Buying a new set of wheels is exciting and time-consuming at the same time. You have a multitude of choices to make. And making the crucial decision of which car to buy is the most significant one. After considering a number of factors such as, make, model, mileage, appearance, maintenance costs, and engine performance, among others, you select the one.
Then comes another crucial decision of choosing the right financing option. After all, buying a car won’t bring you much joy if you’re going to be neck-deep in car debt. As if the process of arranging for car finance or choosing the right car wasn’t time-consuming enough, you have another added onto the list. And that is getting the much-dreaded paperwork ready before you can drive the car home.
To simplify your process, we give you a low-down of a check-list of required documents, based on whether you are buying a new or used car.
For a New Car Purchase
The purchase of a new car is relatively simple, in terms of the documents required.
Below is the checklist for a new car purchase:
1. Driver’s License
Of course, this is one of the most important documents to have before you even think of buying a car! You are required to have driving authorization, so having a license is mandatory and your dealer will ask you for one. This also serves as an identity proof, along with other documents, such as electricity or phone bill.
2. Proof of Insurance
This is absolutely necessary if you want to avoid any unpleasant financial surprises in an emergency, such as an accident. And since emergencies do not give any indication before appearing, it would be wise to buy car insurance when you’re buying a car. Moreover, your dealer will request to see the insurance policy before he lets you drive off with your new purchase.
Of course, if you’re paying in cash, you don’t require a check. If not, you will need to pay for your car with a check. Your dealer may accept any of these: check for a pre-approved loan, bank, personal, or a cashier’s check.
For a Used Car Purchase
To purchase a used car, however, the process is slightly more complex because one needs to procure the right documents from the seller in order to safeguard one’s interests over the long-term.
1. Deed of Sale
For your own sake, be sure to procure the Deed of Sale, by filling out the vehicle deed of sale form, available on many websites. To protect your interest, fill out all the necessary details to make it a detailed deed.
2. Car Title
This is the most important proof of the binding contract between you and the previous seller. The Car Title, in effect, is the document that shows that the car ownership has changed from the previous owner to the new one.
3. Registration Certificate
It provides important information about the car such as engine and chassis number. If you need to transport your car from another region, www.suncoastautotransport.com provides the best car transportation service. When you bring the car to a new location, you will have to re-register your car to the new one.
First, make sure that the previous owner has paid all the previous premiums. Then check whether the car had been involved in an accident by determining if any claims had been made previously. Lastly, have the policy transferred in your name.
Apart from the above-mentioned documents, make sure that you also get the maintenance schedule from the previous owner to keep track of the servicing schedule. Finally, whether you’re buying a used or new car, make sure that you get a purchase receipt for the same. Happy Driving!