If you have bought any vehicle, you must have it transferred / registered in your name ASAP. Why drive on open transfer letter? Considering resale may get down?
Open transfer letter p drive karna "Ikhlaaqi" taur p hi acha nai lagta!
And regarding resale, to a sane and sensible person, condition of car and clean documents with all the taxes paid, etc. Will matter the most (even if it has the history of 20+ previous owners)!