Documents Required to Purchase a New Bike

List of Documents Required to Buy New a Two Wheeler in India

Given the congested riding conditions in Indian cities, where traffic moves at a snail's pace, can is often the most suitable form of commuting. Not only are they easy to maneuver through traffic, but also require far lesser space for parking, making them ideal for in-city travel. Be it travelling going to pick up groceries, travelling to work, popping over to a nearby store, making a quick trip to a friend's house, a two wheeler helps save considerable time.

In case you are planning to buy a two-wheeler, do be prepared to provide documents which will be required by the dealer, the bank (in case you are taking a loan) and the two wheeler insurance company. Following are the documents which you will need to provide.

Documents Required for Vehicle Registration

• Passport size photograph
• Attested copy of ID proof - Driving License or PAN Card
• Proof of Permanent Residence (attested copies) - Passport, Voter ID Card, copy of LIC policy.

In case you do not have any of the aforementioned documents, you may provide any of the following documents as an alternative. Please note, the documents must be duly attested.

1. Electricity bill
2. Phone Bill (BSNL Land Line)
3. Ration card
4. House Tax Receipt from corporation
5. Index II

In case you are purchasing a two-wheeler in a city other than that of your residence, these are the additional documents you will be required to provide. All documents provided must be duly attested.

1. Copy of Registered Rent Agreement.
2. Copy of your landlord's electricity bill.
3. Letter From Your Employer or Bonafide Certificate from your college.
4. Original Affidavit

Check: Add on Covers in Two wheeler Insurance Policy

Documents Required to Buy a Two Wheeler on EMI

Buying a two wheeler and making the payment in full may not be possible for everyone as some of these bikes or scooters today are really expensive and people may have budgetary limitations. Even if you cannot pay in full, you do not have to delay your purchase as you can always finance your bike up to 100% and repay the amount in easy, flexible EMIs.

You can purchase a two wheeler on EMI if you are a salaried individual or a self-employed person. The rate of interest, processing fee, EMI bounce charges, etc. on these loans may vary based on the lender. While most banks offer 2-wheeler loans, private financing firms such as Bajaj Finserv and Tata Capital have also gained popularity. The EMI facility can also be availed from two-wheeler dealers who have tie-ups with various lending firms.

The tenure for such loans may vary from 6 to 60 months based on the facility offered by the lender. You may check your two-wheeler loan eligibility and compare different options before choosing a particular EMI facility provider. Here are the list of documents that you might need to buy a new bike on EMI.

Documents Required for Salaried Individuals

1. Proof of Identity: Aadhar Card/Pan Card/Passport/Driving License/Voter ID and passport size photos.
2. Proof of Address: Driving License/Passport/Voter ID/ Aadhar card/ Utility Bill/Bank statement
3. Income Proof: Bank statements of Last 3 months, salary slips of last three months/Salary Certificate/Form 16.

Documents Required  for Self-Employed Individuals

1. Proof of Identity: Aadhar Card/Pan Card/Passport/Driving License/Voter ID and passport size photos.
2. Proof of Address: Driving License/Passport/Voter ID/ Aadhar card/ Utility Bill/Bank statement
3. Income Proof: Income Tax Return (ITR), Last 3 months' bank statements

Documents Needed to Purchase a Bike from Dealership

Once you have selected a bike which you are going to buy, you need to visit a bike dealership to purchase the vehicle. You need to submit the following documents while purchasing the vehicle:

Identity Proof

In order to confirm your identity, you have to submit ID proof documents like PAN Card, driving license, Voter ID card, or Aadhar Card.

Address Proof

You also have to submit your address proof to confirm your residential address. For this, you need to submit documents like Rental Agreement, Passport, Aadhar Card, Voter ID, and Utility Bills.

Nationality Proof

To confirm your nationality, you need to submit documents like Voter ID and Passport.

Things to Do Before Buying a Two-Wheeler in India

Before you take a decision to purchase a bike or any other two wheeler, you need to ensure that your hard earned money provides you the best in terms of selecting your new two wheeler. The following are some of the things which you need to consider while purchasing a vehicle in India:

1.  Budget: It is always advisable to purchase a bike which is within your budget range, lifestyle, as well as the capacity to bear services charges and maintenance costs. 
2. Compare Prices: You also need to compare the prices, discounts, and benefits provided by various dealerships before you have made decision to buy. This will make sure that you have invested your money at the right place.
3. Insurance: While purchasing your bike, you have to get your bike insurance by buying a bike insurance policy in order to protect your bike from any unfortunate financial liabilities. Although the third party liability cover is a must, it is also recommended to purchase a comprehensive bike insurance which provides both own damage and third party liability coverage.
4. Test Ride: It is also important to understand how you handle your two wheeler. Thus, taking a test ride of your bike will give you an idea how well it handles and how is its capacity. This will also help you in comparing with other bikes available and finally make the right choice. 
5. Feel Free to Negotiate: Feel free to negotiate the price of the bike with the dealer. They will get you with the additional discount.

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