Table of Contents
- 1 How do I know if my bike has clear or finance?
- 2 What are the formalities to buy a second hand bike?
- 3 How do you know if a vehicle is financed?
- 4 What are the documents required for bike loan?
- 5 Is it safe to buy a bike on a classified website?
- 6 How much should I spend on maintenance on a second-hand bike?
How do I know if my bike has clear or finance?
Go to the RTO webiste, click on the ‘Vehicle details’ and provide your Vehicle Regn No etc and then you will get full RC details which may also show the Hypothication details, if any.
What are the formalities to buy a second hand bike?
Here is the list of all the important documents that you need to check before purchasing a used motorcycle:
- RC(Registration Certificate) book.
- Two wheeler insurance policy.
- Forms 28, 29, and 30.
- PUC certificate.
- Road tax certificate.
- Address proof and passport size photos.
- Sales receipt of two-wheeler.
Can I buy 2nd hand bike in EMI?
In order to be eligible for buying a second-hand bike on EMI, the applicant is required to belong to the minimum age category of 18-21 years. CIBIL score is mandatory along with the financial stability to repay the bike loan if any other loans are taken prior.
How do you know if a vehicle is financed?
check the RC book , hypothecation/lien page will mentions details of the same. If the borrower has cleared the dues , this page will also mention the date of lifting lien. U need to check in RTO(Road Transport Office). If the vehicle is under loan they will have details of it.
What are the documents required for bike loan?
General Documents:
| Documents Required | Salaried | Self Employed |
|---|---|---|
| Income Proof | Latest Salary Slip Latest Form 16 | Latest ITR |
| Bank Statement | Latest 3 months Bank Statement | |
| Age Proof | Passport Driving Licence Birth Certificate Pan Card |
What should I look for when buying a second hand bike?
A second-hand bike bought from a private seller won’t come with a warranty, so if it develops a fault you’ll need to cover the cost of repair. Cracks on frames are rare but can indicate the bike has had a hard life. Make sure the bike hasn’t been subjected to neglect and check whether the frame has been damaged.
Is it safe to buy a bike on a classified website?
On classified websites you may not have this luxury, so take extra care. Buying from a reputable bike shop reduces the risk of a dodgy seller, especially if you’ve already got a relationship with a shop and are on good terms.
How much should I spend on maintenance on a second-hand bike?
Think about setting aside around roughly 10 per cent of the bike’s value for potential maintenance costs. A second-hand bike bought from a private seller won’t come with a warranty, so if it develops a fault you’ll need to cover the cost of repair.
What should I look for when buying a motorcycle?
On metal bikes, check the welds for small hairline cracks that follow the shape of the weld. If there are cracks around the welds, we recommend you consider not buying that bike. There’s no harm in asking how many miles the owner has clocked on the bike.