Important Documents You Should Collect When Buying A Used Car In Nigeria
Sahara Weekly Reports That Purchasing a used car can be an economical and practical choice, especially in a country like Nigeria. However, the process requires careful consideration and attention to detail, as there are essential documents that must be collected to ensure a smooth and legally sound transaction. This article discusses the crucial documents you should gather when buying a used car in Nigeria.
Vehicle Registration Documents
The Federal Road Safety Corps (FRSC) is the arm that approves and release out registration papers or documents for cars or vehicles registered and signed under it. The most important document you should collect is the vehicle’s registration documents. This includes the Vehicle Inspection Report (VIR) issued by the Nigerian Vehicle Inspection Service (NVIS) which verifies the roadworthiness of the car. Additionally, the Road Worthiness Certificate, Proof of Ownership, and the vehicle’s insurance papers are vital to establish the legitimacy of the transaction.
Proof of Ownership
According to Autojosh, Verifying the authenticity of the seller’s ownership of the vehicle is critical. The Proof of Ownership document, often referred to as the Vehicle Logbook or Title Deed, establishes that the person selling the car is the legal owner. It contains information about previous ownership, and any encumbrances or liens on the vehicle.
Vehicle Identification Number (VIN) Check
The VIN is a unique code assigned to each vehicle that contains valuable information about its history. Before finalizing the purchase, it’s important to check the VIN to ensure that it matches the information in the vehicle’s documents and that the car hasn’t been reported stolen or involved in any accidents.
Bill of Sale
A Bill of Sale is a legal document that records the sale transaction between the buyer and the seller. It should include details such as the names of both parties, the vehicle’s VIN, the sale price, and the date of the transaction. This document acts as proof of the purchase and can be useful if any disputes arise later.
Valid Insurance Papers
According to Naijauto, Before driving the purchased vehicle off the lot, make sure the insurance papers are in order. You’ll need to transfer the insurance policy to your name and confirm that it’s still valid. Having insurance coverage is not only legally required but also provides financial protection in case of accidents or damages.
Valid Vehicle Road Worthiness Certificate
The Road Worthiness Certificate signifies that the vehicle has been inspected and declared fit for road use. This document is essential to ensure that the car meets safety and emission standards set by the regulatory authorities.
