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After the purchase


After the purchase

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Now that you've bought your car there are a few legal requirements you need to complete.

Transferring registration

When a used car has changed hands, the registration has to be transferred from the seller to the buyer. It's the buyer's responsibility to make sure the registration is transferred according to the law.

Seller's disposal notice

If you have sold your car, make sure you fill out the seller's disposal notice and submit it to the RTA as soon as possible. Ask the RTA for a stamped photocopy.

If the new owner doesn't transfer the registration and gets a traffic fine, you then have proof you are no longer the owner.

Stamp Duty

When a vehicle is registered in a new name, the Office of State Revenue requires you to pay stamp duty on market value or the price you paid for it, whichever is higher.

Stamp duty is 3% of the market value of the car for up to $45,000 then $1,350 plus 5% on the value over $45,000.

Important: To avoid paying a late penalty fee, transfer your details on the registration papers for the vehicle you purchased within 14 days.

Note: all figures quoted above are correct at the time of printing, check with the OSR and RTA for the updated costs. RTA Tel: 13 22 13.

Insurance

Always take out insurance cover, because if you don't and you hit something you have to pay for it no matter how big which could cost thousands or more. Shop around to obtain the best value for your money.

Types of Insurance

Third Party Property - only covers you for the damage your car might cause to someone else's vehicle or property.

Comprehensive - covers you for third party property cover also covers your car for accidental damage.

Post-buy precautions

Soon after you buy a used car it's a good idea to change all oils - engine, transmission, final drive, brake/clutch fluid etc - plus the engine coolant.

Some of these oils/fluids might not have been changed for a very long time. Check to see if your car has a timing belt and when it was last replaced. It has a limited service life and must be changed regularly as recommended by the vehicle manufacturer.

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