Selling Truck Guide: Tips To Sell Your Used Truck in India
Buying or selling a used truck involves a lot of effort. During the selling process, you have to find the right buyer who will give you a reasonable price for the used truck. Also, there is a lot of paperwork involved during the sale. From finding the right buyer to transferring the truck insurance policy, here is a guide that will help you in selling your used truck.Read more
Ways to Sell Your Used Truck
To get the best price, here are the two ways available that will help you to sell your truck-
1. Traditional Method
This is the most preferred way of selling a used or second-hand truck. You can publish an advertisement about your truck and its details in the local newspaper or connect with your local truck dealers. Also, you can inform your friends or relatives and ask them to promote it.
It is recommended to place a 'For Sale' board with your contact details on the rear windshield of your second-hand truck.
At last, do not forget to fix a leaflet on the notice boards of your housing society, truck association, nearest shopping club, and at your office. All these mediums of promotion will help you in selling your second-hand truck.
2. Online Promotion
The second method to sell your used vehicle is an online promotion that is convenient and time-saving.
Here you can place an advertisement in an online portal that caters the second-hand truck sellers and buyers. Check the ratings & reviews on their social media pages and google my business to get the correct feedback.
Documentation Required for Selling a Used Truck
If you want to sell a used truck, you need certain documents, including personal & truck documents, and RTO papers.
For personal documents, you will need a self-attested copy of the PAN card, address proof (Aadhar card, driving license, or voter ID card), and 2 passport size photos.
In RTO documents, you will be required 3 copies of Form No. 28 along with the imprint of the chassis no., 2 copies of Form No. 29, two copies of Form No. 30, and one copy of Form No. 35 with a bank stamp. Moreover, you have to issue one copy of NOC, one copy of the sales affidavit, and one copy of the clearance certificate.
Now moving on to the truck documents, you will be required an RC, PUC, and commercial vehicle insurance policy for your truck without an exemption. Also, you will need an invoice in case there is a mismatch in the RC details. However, you can only transfer the commercial vehicle insurance policy when it has to be transferred to the buyer.
Here are some important documents discussed for selling the used truck-
1. PAN Card
The first document on the list is a PAN card. You should have a PAN card to sell a used truck. If you haven’t generated a PAN card, you are required to give Form No. 60 to the buyer. This form is a declaration given by a person who does not have a Permanent Account Number (PAN) or Common Index Register Number (CIRN).
2. Address Proof
You can submit any government authorised document like Aadhar card, ration card, utility bill, passport, driving license, etc., as address proof.
3. Registration Certificate (RC)
A truck registration certificate is a document that proves your truck is registered with the nearest Regional Transport Office (RTO). It has the technical information related to the truck and about you.
4. Pollution Under Control (PUC) Certificate
PUC is an essential certificate issued by an authorised petrol pump or an authorised pollution testing centre.
Under this, your truck is certified for following the emission norms. It is compulsory for all the heavy-duty vehicles in all the variants, petrol, diesel, and CNG to have a PUC. However, if you own an e-truck or it runs on battery, you are free from this test.
5. Application for the Transferring Truck Insurance Policy
Trucking insurance for truckers is an essential document that truckers must-have. As a trucker, you have to apply for transferring a truck insurance policy to the truck's buyer from your insurer.
6. Submission of the Forms
Form No. 28 includes an application to grant a NOC (No Objection Certificate).
Next is Form No. 29. It includes a truck sale paper with an application for the transfer of ownership of the truck to the buyer.
Form No. 30 is a report for the transfer of ownership of a truck. Lastly, the Form No. 35, it includes an application to terminate an agreement of hire/purchase, lease or hypothecation of the truck.
7. Invoice of a Truck
The invoice of a truck is a required document to check all the details with the RC. An invoice is obtained at the time when you buy a truck from the dealer.
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Tips to Follow While Preparing Your Used Truck for Selling
Here are a few tips to maintain your truck before it goes for sale-
1. Before you take the truck for sale, wash it and make it clean.
2. Take it for repair to the mechanic. They will make sure, whether the interior parts are running efficiently or not.
3. Collect all the required documents and make a copy of them. Also, take recent photographs of your truck.
4. Create and publish an ad in a local newspaper or online website for sale.
5. After publishing all the advertisements, focus on choosing a potential and interested buyer for it.
6. Avoid being overly aggressive to sell the truck, as you might not get the best deal. Instead, stay focused and choose a perfect buyer.
7. Be transparent with the buyer and provide the right information about your vehicle.
To guide you, here are all the necessary tips mentioned to sell your used or second-hand truck. Also, make sure you have all the important documents like RC, PUC, and truck insurance policy to sell your truck.
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