Legal Formalities of Second Hand Bikes in India

India is growing as one of the largest two-wheeler markets in the world. There are various reasons to buy a bike rather than a four-wheeler. The need depends on person to person. Some prefer super sports bikes with great look and feel while some just need for their daily commute. Second hand bikes are much affordable as compared to new bikes. 

After finalizing your second-hand bike one needs to fulfill the following paperwork.

Transfer Vehicle Registration Certificate (TVRC): This is one of the most necessary documents which gives buyer the ownership of the bike. To get TVRC you need the following documents for buying and selling of bike.

• Original Registration Certificate (RC) of the Vehicle: RC is the registration book of the two wheeler. This includes the of the receipt number and a stamp of the RTO. In case of any seal one requires NOC from the bank that the loan is clear with a signed and stamped form 35.
• Insurance Certificate: If you have purchased bike insurance then current insurance certificate is transferred to the new bike owner’s name.
  
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• Transfer Papers: Two forms i.e Form 29 and 30 are mandatory which can be obtained from the RTO.  Form 29 refers to the notice of transfer of ownership of bike after the TVRC process it is given to the new owner and Form 30 is an intimation and transfer of ownership of the bike.
• Valid Address and Identity Proof: One need to submit a copy of any one document like Passport, PAN card, Aadhaar card, etc.
• Pollution Certificate: This is the certificate provided to the bike owner after they take pollution under control test. 

If you are interested to buy a new bike, you can fulfill this wish by avail a Low-Interest Bike Loan from Bajaj Auto Finance with exciting offers and deals!