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COD Certificate of Deposit

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What is a COD Certificate of Deposit

The Certificate of Deposit is a Document Issued by an Registered Vehicle Scrapping Facility in Compliance with the Ministry of Road, Transport & Highways. This certificate Signifies that your Old Vehicle has been Properly Scrapped and Recycled According to Environmental Standards. In the Automotive Industry it is the First Formal Document Issued When a Vehicle is Handed Over to an Authorised Registered Vehicle Scrapping Facility. It Confirms that the Vehicle has Entered the Regulated and Organised Scrappage System. This Certificate is Gigitally Generated on VAHAN Portal and Linked to Government Transport Databases, Ensuring Verification of Ownership Details, Chassis Number, and Registration records.

Benefits of  COD Certificate of Deposit

A Certificate of Deposit (CoD) for Vehicle Scrappage Offers Significant Financial Benefits When Purchasing a New Vehicle, Including 15%–25% Road Tax Concessions, ~5% OEM Discounts, and Registration Fee Waivers. It acts as a Legal Document Confirming Vehicle De-Registration, Which can be Traded or Sold Online if the Owner is not Buying a New Vehicle Immediately. 

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Key Benefits of a Certificate of Deposit (CoD):

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  • Significant Tax Savings: Owners can receive substantial concessions on road tax (up to 25% for personal vehicles) upon producing the CoD when buying a new car or bike.

  • Manufacturer/OEM Discounts: Many car manufacturers offer special discounts, often around 1.5% to 5% of the ex-showroom price, upon submission of a valid CoD.

  • Monetization Potential: If you do not intend to purchase a new vehicle immediately, the CoD can be sold or transferred to another buyer, turning the scrap value into immediate cash.

  • Registration Fee Waiver: The certificate allows for a waiver of registration fees for the new vehicle purchase.

  • Legal Compliance and Safety: The CoD serves as proof that the vehicle has been legally scrapped, helping to deregister it from the RTO database, thus removing any future liabilities.

  • Instant Scrap Value: Beyond incentives, you receive payment from the Registered Vehicle Scrapping Facility (RVSF) for the scrap value of the vehicle, usually 4–6% of the ex-showroom price.

  • Eco-Friendly Certification: It verifies that the old vehicle has been disposed of in a compliant manner, promoting sustainable mobility.

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