There is a lot more to selling or buying a car than the transaction of check and a handshake! For an effective and clean sale, there are documents you need to prepare and a protocol to follow in order to complete an automobile sale. This article will take you through the basic documents that are compulsorily in order to make an effective sale.
Original Car Registration booklet
This takes top honors as the most important document in a car sale. This booklet includes all the original information of an automobile and even if you are the 2nd or the 3rd owner of the car, it is required to present this copy in order to make an effective sale. If you have purchased a brand new car with the intention of selling it /upgrading it down the line, make sure, you keep the original car registration book secured, as it will be needed during a sale.
Vehicle Revenue License
First Vehicle Revenue License is issued for all Motor Vehicles except Motor Cycles and Three Wheels by Office of the Provincial Commissioner of Motor Traffic, Western Province. This is issued for a year starting from Registered Date, and needs to be duly renewed and presented to the new owner when you sell your car.
Vehicle History Reports
Considering the strict laws regarding vehicle safety and efficiency, most buyers will request a detailed vehicle history report before committing to a sale. You should be prepared to supply this for the sake of the buyer, but also to make your job easier in terms of pricing and advertising your vehicle. A vehicle history report will provide details about the vehicle including past accidents, any instances of theft or odometer tampering and major repairs.
Valid Vehicle Insurance Policy Certificates
A valid license and a well-maintained insurance policy are initially the most required documents with regard to automobiles. Settling your insurance bills in a timely manner and keeping steady records of it will show your buyer that you have treated your vehicle well which builds the confidence.
Valid Emission certificate
Emission certificate is a recent requirement, which was made due to environmental issues regarding the unfriendly fumes vehicles emit to the environment. Even though it is not a compulsory requirement when making a sale, it is always good to have it ready in case your buyer demands it.
From a seller’s perspective, having these documents clean and ready helps to set a fair market price and it normally builds immediate trust when shown to prospective buyers. From a buyer’s standpoint, a having clean documents and reports helps the decision process, making it easy to discern if the vehicle warrants the asking price, which ends up as a win-win situation for everyone in the end!