What are the Post Transaction Best Practices for a Seller?

Selling of vehicles is considered the toughest of all easy jobs. Let me explain, selling a vehicle isn’t the major hurdle if the potential buyers have a vision of what exactly they’re looking for and how soon would they want to make the purchase. However, it is the process and the details included throughout the transaction or missing out on any specific detail that could lead to prolonging the process or even hinder the transaction from happening in the first place.

Lets say even after the transaction is completed, there are a few things that have to be kept a note of to ensure that a smooth sales process and majorly to ensure that the customer does not come back with any complaints or that each and every detail of the buyer is kept recorded for any further requirement.

Some of these major points would include the post transaction checklist for seller

  1. Identification: A government approved ID card is mandatory while selling a vehicle to ensure that the transaction has taken place with an authentic seller. It requires a copy of PAN card, Aadhar card or voter ID card and a copy of the address proof, with a photograph of the seller with signature at the back.
  2. Payment Related: PAN card/Form 60 and payment receipt are the two major documents required to be submitted at the time of completion of the transaction. It is required as the most crucial testimony of the transaction made between both parties with complete and accurate details for the same.
  3. Undertaking Documents:
  • Undertaking for RC Transfer:

It is mandatory to get the ownership of vehicle transferred to the name of the buyer. Vehicle ownership transfer which is generally called the RC transfer is important because it ensures that the vehicle and all legal liabilities related to it are transferred to the buyer.

  • Undertaking for Chassis and Engine Number: The undertaking for chassis and engine number is extremely important not just to transfer the ownership of the vehicle but also to rectify important details about the vehicle such as the place where the vehicle is manufactured, year of manufacture, and other significant information.
  1. Insurance: Having an insurance policy is a non-negotiable, when you are transferring the vehicle from one person to another. The insurance as we all know is mandatory for anyone to drive a car on the Indian roads. The importance of insurance is not just to abide by the law, but it also covers the vehicle damage and provides accidental claims.
  2. Delivery Note: A delivery note is one of the most profound ways of ensuring that the vehicle as well as the transaction that has taken place is authentic and within safe hands. It must be signed by the dealer as well as attested with a revenue stamp to ensure its validity. Should there be any misuse happening with the vehicle from the buyer’s side, this delivery note can help you be protected from any legal turbulences, also it testifies that the transaction has now been completed and the responsibility of the vehicle completely lies with the buyer.

The above-mentioned points are some of the best practices to be followed by sellers to achieve a successful sales transaction which ensures authenticity, professionalism and responsibility on their part. It also increases the credibility of the seller in buyers’ perspective and helps to build a great market reputation. After all, at the end of the day what matters is that your customers trust you the most in the market and have a great experience while dealing with you, this will definitely increase the word-of-mouth which no matter how traditional, still remains to the most trusted ways to help gain more and more consumers. Undoubtedly, a great market reputation with an impeccable sales practice leads to a successful business and a brighter future!

Leave a Reply

Your email address will not be published. Required fields are marked *