Have an Old Car? Here’s all you need to know

With the introduction of the new scrappage policy there are a lot of doubts in you mind if you have an old car. Here we provide you with all the information that is needed if you have an old car.

Basics

Let us  first to begin with the age of your vehicle. As of now we are talking about 4 wheelers in specific but a lot of these key rules apply for 2 wheelers. Although the rule for scrapping is for 20 years but the registration of the vehicle is valid for 15 years.

So now if you are faced with the option of re registration of your vehicle then there is a recent development that there will be increase in costs of re registration.

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Have you recently re-registered?

If you have recently have re-registered you car then you just have to wait 5 more years before you scrap it. Anyway the re-registrations of the vehicle is valid for 5 years which in short makes it 20 year old.

Should you Sell?

If you have a vehicle that is 20 year old and you think that you are getting a more than sufficient value for it you should go ahead and sell. On the other hand if you have a small car which might not fetch good value when you sell it then you should go for scrapping it. Now when you scrap the vehicle make sure that you get a vehicle scrappage certificate.

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Vehicle Scrappage Certificate

With this vehicle scrappage certificate you are entitled on a 4% to 6% incentive on the ex-showroom price of the vehicle. Along with that there is a 20% to 25% drop in the road tax that is levied on your new vehicle.

All this finally results in getting a good value for you 20 year old vehicle. To know more about this click below

New Vehicle Scrappage Policy – Benefits for you?

Are you considering to buy used old car?

If you are considering to buy a second hand vehicle under the used car market the you need to be careful with 2 main things. Make sure that it has enough years left before the RC renewal comes in.

So if you have an old car or you are considering to buy one then you need to be careful the above mentioned pointers. Join our new WhatsApp update list by clicking here. For more such content stay subscribed to the Motoroctane Youtube, Google NEWS, Facebook and Twitter. We also have a paid car consultancy service for all your doubts – Know more before one of your largest investment.