If you buy a new car in lahore, the paperwork is extremely simple and quick. But there will be many car sales documents to keep in mind when you decide to buy a used car in lahore.
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• Prepare ORIGINAL COPIES for the following vehicle purchase and sale documents:
• For car sellers:
• For car buyers:
• Notarize the vehicle purchase and sale contract
• Pay registration tax for the vehicle
• Time of Use – Value Ratio
• Carry out procedures to transfer car title
• Examination of circulation and exchange of circulation books
In case you buy a car at a used car dealer, they will probably help you complete the procedure to transfer the title of the car you buy. All procedures for buying and selling use car will take place quickly and professionally. So, what if you buy a use car from an individual? What documents do the buyer and seller need to prepare for buying and selling a car in lahore? What are the steps to carry out the car title transfer procedure?
To avoid problems after buying a car, the buyer must be very careful and ask the seller to prepare complete vehicle purchase and sale documents and carry out procedures for buying a use car in lahore to serve the transfer of ownership. The following article will guide you on the necessary car buying and selling documents that sellers and buyers need to prepare, as well as the steps to carry out car title transfer procedures .
3. Pay registration tax for the vehicle
The location for paying registration tax for each subject is as follows:
For individuals: District Tax Department where permanent residence is located.
For companies or private enterprises: District Tax Department according to the latest address on the Business License.
The car buyer brings all vehicle documents and the notarized Car Sales Contract to the District Tax Department where he or she lives to pay registration tax. After that, you just need to fill in all the information according to the declaration form they give you and submit it to the counter and wait for your name to be called to pay the registration fee. In addition to submitting documents directly at the Tax Department, you can submit documents through the Electronic Information Portal of the General Department of Taxation.Once the registration tax payment has been complete, the tax agency will return the certification receipt to the car buyer and the original set of documents. The set of photocopy documents will be retain by the Tax Department. Note that buyers must carefully check the information on the receipt.
The registration fee calculation rate is base on the vehicle’s usage time from the year of manufacture (year of manufacture is calculate as 1 year) according to the percentage of value of a new vehicle of the same type. Car buyers can refer to the following registration fee rates over time to calculate the registration fee to pay.
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Carry out procedures to transfer car title
Used car buyers bring all documents and registration tax invoices to the car registration location in the locality of residence to complete the car title transfer procedure. The police agency will issue a car registration declaration form. (This declaration requires the signature of the car seller, so the buyer needs to negotiate with the seller in advance about this). You need to fill out all information in the vehicle registration form.
Leave the frame number and engine number blank, this is the place for the traffic police to write down information. Then, you paste 2 pieces of paper with the frame number and engine number that you asked the dealer to help you with at the time of purchase into the above declaration. The officer will check the vehicle and write down the chassis number and engine number on the declaration form. After completing the relevant documents, you return to the room to pay the license plate fee and wait about 10 days to get a new vehicle registration. If the vehicle is roaming, the vehicle will be immediately issued a new license plate and given a date to pick up the vehicle registration. .
The vehicle registration location is usually the road traffic police department of the province/central city where the car buyer lives. In case you are a diplomatic representative agency, representative agency of an international organization or a foreigner working at an organization or agency, you need to go to the Road and Railway Traffic Police Department to register.
5.Examination of circulation and exchange of circulation books
If the buyer and seller have permanent residence in the same province/city (the vehicle still retains its license plate), the buyer can use the vehicle until the expiration date stated on the registration book and inspection stamp,When it’s almost expired, go re-register.
If you are roaming, after receiving the new car registration in your name, the buyer goes to the registration station to change the registration book and check the vehicle’s circulation.At this point, the used car officially belongs to you. Remember to inspect your car , maintain and take care of it regularly for better use.
See more: Notes when buying a used car from an individual selling a car
Through this article guiding procedures for buying and selling used cars, Carfame wishes you “smooth sailing” in buy and sell car in lahore.
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