Bike Ownership Transition: A Closer Look at Transfer Charges

Posted on: Feb 23, 2024 | 3 mins | Written by: HDFC ERGO Team

Bike Ownership Transition: A Closer Look at Transfer Charges

Bike registration is crucial as it guarantees legal ownership of the bike. Often, people relocate or sell their bikes to their friends, family, or neighbours. Also, some people buy second-hand bikes. In this scenario, they must transfer the bike ownership to those they have sold it to. However, this process isn’t as easy as it seems. In this blog, we have decoded all the bike transfer charges that will help you plan your financial plan strategically.

What is Bike Ownership Transfer?

Along with insurance for bike, having a bike registration is also legally binding. Many people in India need help transfer ownership of a two-wheeler. However, understanding the essential stages and regulations can shorten the process and ensure a seamless transfer of ownership. The transfer of bike RC involves two factors. The first is an ownership transfer, whereas the second is a transfer from one RTO to another. The new owner takes legal bike ownership by completing the transfer and assumes all related duties and obligations.

Before beginning the ownership transfer, ensure all outstanding loans or third party bike insurance claims on the bike have been resolved. The seller should get clearance certifications from the appropriate financial institutions or insurance firms.

What are the Bike Transfer Charges?

Although the bike transfer charges are not high, there’s a certain amount that you need to pay the RTO office to have a seamless transfer process.

• For bike ownership transfer, the fees range from INR 30 to INR 35, depending on the state.

• In the case of imported bikes, the cost can go high, up to INR 100.

• Also, some states require a compulsory payment of INR 200 to the RTO as the smart card fee.

Conclusion

Bike transfer has always been challenging, but with a few simple steps, it is as easy as renewing your comprehensive bike insurance

When you sell your bike, you also transfer its ownership. This necessitates changing the ownership in all relevant documents necessary to operate a bike. After completing all the documentation and fee payment, the new ownership usually takes 15-45 days.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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