Things to Know Before You Sell Your Two Wheeler

After a certain point in time, people feel the need to sell their existing bikes and replace it with an upgraded version, or purchase a car instead. Some might plan to shift to a new place where they might not require a bike and so end up selling it. Irrespective of what your reason is, you are selling your two-wheeler right now and so here are a few tips to guide you in the process.

3 Things to Know Before You Sell Your Bike

1. Preparing your bike

There are a few aspects to keep in mind while getting your bike ready. Firstly, ensure that all your documents such as the pollution certificate, the RC, 2 wheeler insurance , etc. are in place. The next thing to do would be getting your bike cleaned. Just washing your vehicle with high-pressure won’t be enough. You must make sure to clean every part of your vehicle minutely. This will help in selling your bike faster. For an even better and smooth selling experience, it is advised that you get your bike serviced.

2. Setting the Price of your bike

You need to know the value of your bike yourself, before informing others that you’re planning on selling it. For reference, you can go on the web to check the prices of two-wheelers with the same make and model, along with the year of manufacture. Or, you can pay your visit to a dealer who sells used bikes and check the price of the bike. If not that, you can go to any service center that you trust or a garage that is in your vicinity, just so you get an idea of the approximate price.

3. Transferring insurance policy

The 2 wheeler insurance policy must be transferred to the buyer. The insurance policy won’t be valid to you once you sell your bike. Any claims made would apply to the new bike owner and not you upon a simple bike insurance name transfer online . To have your two-wheeler insurance policy transferred, you need to follow a few steps:

1. Within approximately 15 days of transferring the ownership of the bike, it is important to apply for the transfer of insurance as well.
2. Documents or copies of the original policy, date of ownership transfer, bike rc book, bike details, the premium of the policy, etc. must be submitted.
3. The person who is purchasing your bike should provide his/her Aadhaar number or PAN, and driving license for transferring the insurance.
4. Third-party liability policy must also be submitted along with the remaining documents.

If you follow the above-mentioned steps, you will have an extremely hassle-free experience during your bike and bike insurance transfer. In order to transfer your two wheeler seamlessly, you need to ensure that you do not skip any of the aforementioned steps. There is a possibility that if you miss out on bike insurance transfer, you would have to pay for the damages and repairs upon an accident as the policy is still in your name. Hence, remember that you will have to transfer your two wheeler insurance policy along with the bike compulsorily.

FAQ

1. How to sell a bike safely?

To sell a bike safely, meet buyers in a secure location, verify their identity, and only accept payment through trusted methods. Complete all necessary paperwork to transfer ownership.

2. What documents do I need to sell my bike?

Key documents include the bike’s Registration Certificate (RC), insurance policy, Pollution Under Control (PUC) certificate, sales agreement, and Form 28, 29, and 30 for ownership transfer.

3. How can I get the best price for my two-wheeler?

Maintain your bike in good condition, fix minor issues, and have it cleaned and serviced before showcasing it to buyers. Research the market value to set a fair asking price.

4. Why is ownership transfer important when selling a bike?

Ownership transfer is crucial to ensure the buyer is legally responsible for the bike after the sale. It protects you from liability for any future incidents involving the vehicle.

5. What are some common scams to avoid when selling a bike?

Beware of fake buyers, fraudulent payment methods, or requests to share sensitive information. Always verify payment before handing over the bike or documents.

6. Should I cancel my bike insurance after selling?

Yes, cancel your bike insurance or transfer it to the new owner once the sale is complete. This ensures you’re not held accountable for any claims after the sale.