Cars have become a necessity nowadays, and people love to have a vehicle, as numerous brands are offering different designs, features at varying prices. There are umpteen popular car brands, and one of them is Holden; it an immensely popular brand dealing in automobiles. It earlier manufactured cars, but presently, it only imports them and marks them under its brand name, Holden. Holden originated in the southern part of Australia in the year 1856 and was founded by Henry James Holden. It was initially called by the name General Motors-Holden, and later, its name was changed to Holden.
Holden imports already manufactured car models and sell them under their brand name. It has some kind of partnership with top car manufacturing companies such as Suzuki, Chevrolet, Nissan, etc. Holden also handled the distribution of American brand Cadillac and Opel brand of Europe in 2009 and 2012, respectively. Everyone loves to own a Holden car, but the major problems arise when they have to sell it. Selling a car is a challenging task as you need to take care of different things and also ensure that you get the right amount for the car. You can get an estimate for your car by consulting some people such as Holden dismantlers and other agents dealing in Holden cars as they have sufficient knowledge about it.
Some things to take care of while selling your Holden
Proper documentation is necessary while selling as well as purchasing a car. There are various formalities and forms that need to be filled for selling it in a completely legitimate way. Proper paperwork also protects you from facing any legal issues later on. There are few mandatory forms such as Form 28; it is an application for the NOC, Form 29; it is for transferring the ownership of the car and the Form 30 to report the transfer of the car. You must get these forms filled adequately by the buyer and take a copy of government ID proof of the owner along with the insurance documents and RC of the vehicle.
You must take the signature of the buyer on all the forms to have some security. Documentation is necessary because it is proof that you have handed over the vehicle to the other person, and now he is responsible for everything or event that involves that vehicle. For instance, if any crime is commuted using that vehicle, you won’t be accountable for it.
Sign the documents after getting complete payment
Sometimes the buyer offers you to pay the amount in some installments approving to it entirely depends on you, but you must ensure one thing that you don’t sign on the documents before receiving the full payments as once you sign on the documents, the complete ownership of your Holden car goes to the buyer. Even if the buyer has given you coequal or a DD, wait for encashing as you never know they might get bounced, and you have to suffer huge losses.
Why is it necessary?
If you sign the papers of transfer without receiving the full payment, there are chances that he might fly away with your car as he is now the legal owner of your car. In such a situation, you are left with no option other than filing a lawsuit against him, which will take a lot of time.