Finance

Things To Know Before Buying Second-Hand Bike

The world is facing a pandemic, Coronavirus, which was first reported in Wuhan, China on New Year’s Eve of 2019, has now infected more than 18 million people in the world. This global catastrophe has taken the lives of over 700,000 people. To reduce the spread of novel coronavirus, the Indian government has implemented a lockdown on its people in the last week of March. However, since June, the lockdown has been lifted in certain areas and life is getting normal again. However, people are following safety measures like social distancing, frequent hand wash, wearing a face mask, etc. In such an unprecedented time, traveling in public transport can be risky. That is why more and more people are buying their own vehicles. People are opting for two-wheeler more than they are buying four-wheeler.

Now the question is, should you buy a new bike or a second-hand bike. Well, we are living in an unfortunate time where many businesses have stopped due to COVID-19 pandemic and people are saving more than ever because no one has seen the future. This is the reason why people are opting for second-hand bikes. However, there are certain things that you should know keep in mind before buying a second-hand bike. Here is the list of things that you should consider:

Decide From Where You Want To Buy

You can either buy two-wheeler from a private seller or a reputable dealer. A dealer will have a wide range of two-wheelers, from which you can choose from. All the bikes are thoroughly checked, when it comes to documentation, ownership history, mechanical aspects, registration papers, etc. On the other, buying a second-hand bike might be cheaper but it comes with certain risks. you should only buy a bike from a private seller in case you know the person, or you have enough knowledge about bikes.

Thoroughly Inspect Your bike

Make sure you check every part of the bike thoroughly. Parts like brakes, steering wheels, headlights, rearview mirror, chassis, clutch, tires, chains, fuel tank, etc. You should also take a bike for a ride to ensure the smooth operation of its engine. Checking bike parts are important as any cracks, leaks, wear, and tear in these parts can cost you a lot. Also, you should ask questions and clear all your doubts.

Check The Documentation

You should check the following documents while buying a second-hand bike:

  • Service Book
  • Pollution certificate
  • NOC
  • Sales Receipt and RTO forms (Forms 28, 29 and 30)

Two-wheeler Insurance policy

Before signing final papers, you should make sure that the bike you are purchasing has a valid two wheeler insurance. If it is not insured under an insurance plan, then make sure that you buy bike insurance online as it is not only necessary but compulsory also. Necessary as it will protect you financially in case of damage occurred to you or your bike due to accidents, man-made and natural disasters, theft, fire, etc. It is compulsory as per the Motor Vehicle (Amendment) Act, 2019, all bike riders need to insure their bikes with a two wheeler insurance plan. You should also renew your bike insurance timely to continue the benefits and financial coverage.

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