Second Hand Car GST: In the recent GST Council meeting, the GST rate on selling old cars has been increased from 12 percent to 18 percent. This also includes electric cars. Now if you are going to sell your old car, then this change can be important for you. However, there is no need to panic, because in this article we will tell you some easy ways, so that you can sell your car at the right price.
It is very important to know the exact value of your old car, so that you can sell it at the right price. car Many things affect the price of a car.
Car age: The older the car, the lower its price.
Car condition: If the car is in good condition, its price will be higher.
Driving Distance: A car with fewer kilometers driven has a higher price.
Service and Accident History: If the service record of the car is good and there has been no major accident, then its price is also higher.
Brand and Model: Some car brands and models offer more value than others.
Do online research: There are many websites and apps on the internet that can estimate the value of your car. Many of these are free, where you can enter the model, year, and mileage of your car and see an estimated price.
Compare similar cars: Check the prices of cars similar to your car in your area. This will let you know what the fair price of your car could be.
Seek professional help: If you have trouble deciding the price of your car, you can take help from a car dealer or expert. They can examine your car and suggest the right price.
Ownership Transfer: After selling the car, you will have to go to RTO and get the ownership of the car transferred.
Insurance: If your car can be transferred, the insurance company has the information to sell the car. If not, cancel the insurance policy.
Documents: It is necessary to give the car's registration certificate, insurance documents and Pollution Control Certificate (PUC) to the buyer.
Now 18 percent GST will be imposed on old cars, so this will affect the price. If you are selling the car through a registered dealer, then this GST will be applicable. But if you are selling the car directly, you will not have to pay GST. Nevertheless, it is important to keep this variation in mind to determine the correct price.
