What are the important documents you need before buying a car?
- Payment Documents
- Deed of Sale
- Car Title
- Official Registration
- Insurance Papers
Buying a car is a big financial decision. While you are getting a vehicle that allows you to travel around, you also have the responsibility to maintain it and keep it in good running order. The process of buying a car might seem simple at a glance, but there are a number of details that you have to keep in mind before you make a purchase.
These details include car documents — important pieces of information that are required by various offices and agencies to make sure you would be able to purchase a car without any issues. If you are looking to buy a new car soon, here are some of the important documents that you need to look for beforehand.
Payment Information
If you are buying a used car, one of the first things you need to look for is the payment information. These usually come in the form of official receipts (which helps you know the purchasing price), the car dealership that it was brought from, vehicle make and model, date of purchase, and a signature that confirms the purchase. Official receipts will let you know if the vehicle has been legally purchased by the seller, which means that he will be able to sell the vehicle to you.
Deed of Sale
Aside from the necessary payment information, make sure the car also possesses a deed of sale. This document provides you with all of the important information about the car that you are going to purchase. These details include the car’s body type, year, model, plate number, vehicle identification number, motor number, registration number, and contact details of the seller. The deed of sale is an important document that must be present in your car at all times, as it is regularly used to verify vehicle ownership.
Car Title
An important document when buying second-hand vehicles, the car title is legal proof that vehicle ownership has been transferred. This also serves as an official contract between you and the seller. Car titles include details like vehicle price, notarization from the local legal office, odometer reading, signatures, and purchasing date. This is another document that you should keep in your car for verification purposes.
Official Registration
In addition to having your purchase verified, the vehicle must also have official registration from the local transportation office. This is another document that contains basic information about your vehicle, along with the region of the office it has been registered at. It is important to make sure it has been registered in the correct region, as transportation offices require them for verification purposes.
Insurance Papers
If you have an existing insurance policy, you would need to make sure you have the necessary papers when you buy a car. If the seller has an insurance policy for the vehicle being sold, make sure you have it transferred to you to claim it. Insurance policies provide you with financial compensation in case of any emergency.
Key Takeaway
When buying a car, there are a number of details and information that you need to have checked to make sure the purchasing process would proceed smoothly. By having these documents, you have all of the necessary information to buy and own your car legally.
