Two-wheelers have become a popular choice among vehicle buyers in the country due to the convenience that they offer. If you are looking to purchase a two-wheeler, it is necessary to familiarise yourself with the various formalities that will have to be done post purchasing the vehicle. Further, you will also have to get your documents in order before making the purchase.
In order to purchase a two-wheeler that meets your needs, it is necessary to compare the various two-wheeler options that are available in the Indian automobile market. Once you zero in on a two-wheeler that is right for you, you can proceed to purchase the vehicle. If you choose to make the purchase through an automobile dealership, you may be asked to submit the below-mentioned documents:
If you don’t have the required funds readily available with you, you can choose to avail a loan from a financial institution to purchase a two-wheeler. If you are taking a two-wheeler loan, you will need to ensure that you meet the eligibility criteria specified by the loan provider. Most financial institutions require applicants to meet a certain age limit, have a steady source of income for a minimum of 1 year, etc. You will also need to submit certain documents to the loan provider for your application to be considered.
If you are a salaried employee, you may be asked to submit the following documents:
If you are self-employed, you may be asked to submit the documents mentioned below:
Once you purchase a two-wheeler, it is mandatory to insure the vehicle, as per the Motor Vehicles Act, 1988. Vehicle owners should at least have a third-party liability insurance cover, if not a comprehensive/bundled/package two wheeler insurance policy. Vehicle buyers can purchase a motor insurance cover for their vehicles through an agent or from an insurance company directly. Further, policy buyers can also choose to purchase two wheeler insurance policies through online or offline channels.
Those who wish to purchase the insurance cover online can either visit the official website of the insurance provider or visit a trusted third-party insurance website. It is advisable to do your due research before purchasing a two wheeler insurance policy. The documents that you will be required to submit to purchase an insurance cover, in this case, will vary based on the insurer you choose to purchase the policy from.
Before the vehicle can be operated in public places, it is mandatory for the vehicle to be registered under an RTO that is located in the vehicle owner’s area of residence or business. In most cases, when you purchase a new two-wheeler, the vehicle registration is done by the automobile dealership. That said, vehicle buyers can also choose to get the vehicle registered at the nearest RTO by themselves. The documents that are required to register your two-wheeler are as follows:
*Note: This is a general list of documents. The documents that you will be required to submit may vary based on RTO rules.
If you are purchasing a two-wheeler, it is required to do some research with regard to the bike that you will be purchasing, the costs involved, etc. You should also ensure that you are well-versed with the paperwork and formalities involved in purchasing a two-wheeler for a smooth and hassle-free purchase experience.