If 2022 is the year that you have decided to buy or sell a new car, here’s how to do that with no regrets.
1. Conduct Due Diligence – This means that you should do a search on the NTSA website to confirm the ownership details of the car.
2. Ask for the Log Book to confirm if the ownership details match the NTSA records.
3. Conduct a KEBS Search to confirm the mileage of the vehicle and a KRA Customs Duty Search to ensure the Vehicle has no outstanding tax obligations. Also conduct a Collateral Registry Search to ensure the vehicle has not been used as Collateral for a Loan.
4. Take the Car for physical inspection by a Trusted Mechanic. He/She should examine the physical state of the car and record his/her findings. This will help you in negotiations with the Seller.
5. Get a Lawyer to prepare a Sale Agreement for the Sale/Purchase and have it properly witnessed.
6. Pay by Cheque which will serve as a Receipt of the Purchase or have a Lawyer prepare for you an Acknowledgement that will serve as a Receipt.
7. Pay all the Taxes associated with the Purchase.
8. Register your details in the NTSA portal.
9. Get a Good Insurance Cover for your new Motor Vehicle.
10. Enjoy your ride.
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