Buying a two wheeler can be one of the important aspects of one’s journey. The feeling of owning a bike could sometimes be unparalleled. Buying something new is always a sense of celebration especially when it’s a motor vehicle.
In India with owning a motorbike brings a sense of freedom as well. This is the reason why the youth are so passionate about owning a motorbike. It is not about the ease which it brings into their life but the freedom that the bike brings along. In the congested cities, bikes are often the life saviour. They are compact can zip through the tiny spaces to reach wherever you want on time.
Before buying a bike, one must be sure that they are not missing out on anything. One of the important things to keep ready are the document for the verification.
List of Document required for new Two wheeler purchase
There are specific documents required to register the bike on the owner’s name. There are certain things which are compulsory one of them is registration at the RTO (Regional Transportation Office) and getting bike insurance online or offline. Also, these documents are necessary to have a database to ensure the genuineness of the owner of the two wheeler. When you have finalised the bike, you want to purchase the next step is to reach the dealership with the documents mentioned below
The necessary identity proof of the individual like Aadhar Card, Pan Card, Driving License etc will be asked for while making a purchase.
To proof the residence a residential proof is needed which could be your passport, Utility Bills etc. In case of tenants; rental agreement along with a utility bill is needed to prove that the person lives in the given address.
Nationality Proof is also needed while making a purchase which could be Voter’s Id or a passport.
Documents required for Bike Finance
In case you decide to buy a bike in finance for which your eligibility is decided by your age, income etc. The necessary documentation for bike finance ae mentioned below
For Salaried Employee
Identity Proof & Address Proof
These two documents have to be submitted the same as when making a purchasing for two wheeler. Along with these documents, the extra documents needed are
Since the bike loan is based on your income thus it is necessary to show the proof of your income. Salary Slips and Tax returns are sufficient for this purpose.
Last 1 year of salary slip is to be submitted to identify the income and the deductions made in past one year.
2 set of Passport Size Photographs
For Self-employed individual bank statements of the last three to six months and income tax return of the last 3 years is needed for loan sanction.
After the purchase, the bike has to be registered at the nearest RTO within 7 days with all the documents of finance, sale and identity proofs.