Second Hand Cars: Customers have moved to the second hand market due to rising prices of new cars and long waiting periods. Many online and offline platforms have become available for this. However, there are many cases of fraud with customers while buying an old car.
Authorisation Certificates for Car Dealers: Sales of second hand cars are also happening fiercely. Customers have moved to the second hand market due to rising prices of new cars and long waiting periods. Many online and offline platforms have become available for this. However, there are many cases of fraud with customers while buying an old car. In such a situation, the Ministry of Road Transport and Highway has taken a new route to identify the authenticity of any dealer. Has introduced a rights certificate to identify such dealers. This move of the Ministry will reduce fraud and promote transparency.
The Ministry has amended Chapter Three of the Central Motor Vehicles Act, 1989 for this. This Babat issued a notification on 22 December. As per the notification, the process of giving notice of delivery of the vehicle between the registered owner and the dealer has been detailed. The old cars market in India is slowly gaining foot। In recent years, this market has received a further boost from the introduction of online marketplaces that buy and sell old vehicles.
As per the notification, dealers are now empowered to apply for registration certificate renewal for motor vehicles, renewal of fitness certificate, duplicate registration certificate, NOC, RC transfer. It stated that these rules will help in identifying and empowering dealers / intermediaries of registered vehicles. In addition, there will be adequate protection from fraudulent activities in the purchase and sale of such vehicles. The new rules will come into effect from April 1, 2023.
