Sell your bike

Bike Selling Tips By Edelweiss General Insurance Blogs

7th April 2021 8min read 412 views

Your bike is probably your most prized possession. You might have spent years travelling on city and country roads, exploring the great outdoors. But, after all your years together, you may decide it’s time to upgrade. You could be selling your bike to trade it in for a newer model, or perhaps you’d like to purchase a car. Whatever the reason, you should get what you deserve and transfer all the papers over to the new owner properly. To help with the process, here’s our complete guide on selling a bike:

Step 1: Get the Paperwork in Order

Before you can even think about putting your vehicle on the market, you need to have all the paperwork in order. You should have the two-wheeler’s title deed. It’s a document that will prove you own the vehicle and have every right to sell it. You should also draw up a Bill of Sale or Sale Agreement. The document will establish the conditions under which you would like to sell the vehicle. Ideally, ask a professional to help with this. You should also make sure that your two-wheeler bike insurance is up to date.

Step 2: Fix It Up

Before you decide to sell your bike, you must make sure that everything works well. Take your bike to a mechanic to get it checked. You don’t want any loose parts putting a spanner in the works of your sale. Over the years, you may have upgraded certain accessories or added a few elements to the vehicle. If you can, remove the fancy parts and replace them with the original ones. A standard two-wheeler is likely to sell faster and easier than a highly customised one.

Step 3: Wash It Up

Before you show your bike to prospective customers, you need to clean it up properly. Wash off all kinds of dirt, grease and wax and check if you need to touch up any scratches. The cleaner your bike looks, the more you’re likely to get for it.

Step 4: Hand Over the Bike and All the Documents

Once you find a buyer and sort out all the details, you can hand over the bike. You’ll need to file Form 29 at your local RTO. The form proves that the vehicle is being transferred or sold from one person to another. If the buyer is from another state, they will also have to file Form 30 and get a No Objection Certificate (NOC) from their local RTO. You will also have to hand over the original registration certificate or card, the Pollution Under Control (PUC) certificate and the two-wheeler bike insurance policy. Once the sale is complete, you can transfer the insurance policy to the new owner. It's crucial to remember that the buyer cannot benefit from your No-Claim Bonus (NCB). But, if you’re purchasing a new bike, you can transfer your NCB from your old vehicle to your new one.

When the time comes to sell your bike, we hope you enjoy a smooth and bump-free journey!

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