Points to be taken care while selling car

I am trying to sell my car. what are the points that I have to take care with respect to the documents, RTO, etc ? Is it enough that the buyer brings the relevant documents and I just sign it or are there any more responsibilities from my side ?

If you are selling directly to the new owner, please ensure that the registration is changed to the new owner's name. You can insist that you want to see the original RC book with the name changed, or new RC book if they issue a new one when the owner changes.

Ask for the original document, not photocopy. You can keep a photocopy for your reference if you want.

If the car remains in your name after selling, if it gets involved in any accident/crime, you will get dragged into all that.

If you are selling through authorized car dealers (Maruti True Value etc), you need to only deal with them and they will give you a paper as proof of sale to you. Again, if you want to be doubly sure, you can ask them to give a copy of the RC book once the new owner registers.

Tomy.

Great suggestions. Selling through authorized car dealres is the best way.

Selling your car through authorized dealer is always a better option until and unless you are selling it to someone you know. But what about the commission we need to pay the dealer. Does it depend on the type of vehicle say, custom car or sport utility vehicle. I think it depends on some percentage of the sale. Does anyone have any detailed information about how much percentage is exactly paid to such car dealers.

Typically we dont give anything as commision. We sell it to them for pirce X and they sell it to the end user for price Y (we will not even know what is Y). The difference is their margin. Autohorized dealers (like Maruti TrueValue) will pay you upfront before selling it off and collecting the money from the end user.

If we sell directly to the end user, we might get better than X (probably upto Y), but then we have to take lot of pains to find a buyer (maybe Ads etc) and be careful with the paperwork and money transactions. Considering these pains, many prefer to lose that small margin part and do a clean transaction.

Another advantange in selling to authorized dealer is if you are buying a new car while selling the old one. We will get some benefits if exchange bonus is there.

Tomy.

I will not advise to sell car to dealer as eventually you will end up getting 15,000-20,000 lower. As its a dealer business to buy and sell car, why will he offer you the actual value.

I suggest , in this hi tech zone, to sell car using online portals and there are many users who comes to these sites online for buying used car. Used Car in Delhi is the biggest market and with trends changing, many upcoming buyers and sellers are metting on these online exchanges to do transactions.

MOD NOTE: Link removed. Using this forum to advertise other portals is not allowed.

That is not always true. I wanted to sell off my old Maruti 800 (2000 model) when I purchased Ritz. The best offer I got from people (end users) was Rs.65K. Maruti True Value gave me Rs.60K + 10K exchange bonus = Rs.70K (and a clean transaction).

If I had sold it directly, I would have ended up losing Rs.5K (since I lose the 10K exchange bonus), plus all hassles in the paperwork and money transaction.

I guess true value people will do all minor repairs and keep it in good condition and try to sell it at a higher value, which we will not generally get if we deal directly with the end user. The trust factor is different for induvidual and a reputed company.

Yes, if you are not buying another new car, then the 10K wont be in the picuture. But I dont mind losing 5K for a clean transaction without any headaches. For bigger cars, you may be right on the figures you mentioned.

Tomy

This is a pretty simple process. Just got to a local RTO or driving school. They will provide you with all the forms required. The forms mention where the buyer should sign and where the seller should sign. 

The forms seller will guide you with the right set of forms depending on RTO change/no change. 

In addition to this get an deed signed on  a stamp paper that you have sold your car to XYZ person and going forward you have no outstanding liability on the car. This will absolve you of any resposibilities till th transfer happens in the RTO books. 

If you go through an agent he will do all this for you.