Open Papers - Transfer Of A Vehicle

[Spinner]

Hi all,

I'm buying a car from a relative of mine who will be migrating soon. He is the first owner of the vehicle. Some one told me that I should have the open papers rather than transfer it to my name as this will add value to the car when I re-sell it. Usually I don't expect to use car for more than 2-3 years.

What do you guys think about having open papers? Is it a wise decision? What would be the practical difficulties I will face specially considering the previous owner will be out of the country.

thanks in advance

S

[Ripper]

Hi all,

I'm buying a car from a relative of mine who will be migrating soon. He is the first owner of the vehicle. Some one told me that I should have the open papers rather than transfer it to my name as this will add value to the car when I re-sell it. Usually I don't expect to use car for more than 2-3 years.

What do you guys think about having open papers? Is it a wise decision? What would be the practical difficulties I will face specially considering the previous owner will be out of the country.

thanks in advance

S

with present regulations etc... I don't think you'll have any problems... Just get the transfer forms signed from the present owner and keep with you so just in case if you need to do it for some reason you wont have issues... Now you can get transfers done in a day btw

yes the number of previous owners makes it lil difficult to sell cars at times... I remember when i was hunting for one...i called a guy about his car and the moment he said there have been 6 owners on the book...i just didn't bother to even ask for any more info

But i think it's illegal to run a vehicle on open papers But lotsa people do...

The only hitch i can imagine is that if you meet with a bad accident and when the cops get you they might check for the legal ownership of the vehicle... not too sure about it but i think that would be the only problem...

[Kim]

but make sure the current owners signature is correct, and reverify

[podilamaya]

According to legislation it is illegal but many practice it.

You would be in trouble if your car met with serious accident or stolen, in both cases owner (owner of last registration) must be present.

I can recall once my aunty sold her car open papers, and car was stolen from that owner, when the police found car, she had to go release car from court.

[pissa]

given the present security situation, the seller has more risk of selling with open papers than the buyer. say the vehicle end up in the hands of your friendly neighbourhood pussies......and they use it to blow up someone or something, or to transport their explosive goodies and get caught...the police will track the owner, and guess what, it's you!!!....and they;ll expect you to come up with excuse as well...

[big Daddy]

Best is to transfer it to your name...I had my car in open papers. when i wanted to sell it, the best offers i got is from people who want to put a loan. then they need documents from orginal owners...the person i bought the car left the country and i could not get any (copis of ID and letter permitting me to sell) if you tranfer it to your name before selling, the new owner has to wait for six months for another transfer.. so i lost lot of good offers because of this..

/bigDaddy

[Spinner]

Thanks guys for all these valuable information.