Go Back   Team-BHP > Team-BHP > Team-BHP Advice > On buying a car


Reply
 
Thread Tools Search this Thread
Old 14th June 2012, 22:24   #361
BHPian
 
Fornax's Avatar
 
Join Date: Dec 2009
Location: Bombay
Posts: 288
Thanked: 78 Times
Default New rules at HDFC Bank for Car Finance

I have booked a Chevy Beat by paying 25000, and having been in the know, asked the dealer to ensure that the car alloted to me undergoes PDI. I also made it clear that in case the car is found to have any defects, scratches or repairs, I am within my rights to reject it.

However, when I applied for a car loan with HDFC Bank, they said, they would not disburse untill the dealer issues a insurance cover note. Now, for issuing the insurance cover note, the dealer has to assign a engine and chassis number, which means I will lose the insurance amt, if indeed the car is rejected by me. Also, I am not sure how the dealer will assign a car and give me insurance note having only received 25000.

Its very confusing at the moment. Also, HDFC Bank stated that this cover note procedure started only 3 months back.

Please help with your suggestions.
Fornax is offline   Reply With Quote
Old 15th June 2012, 08:05   #362
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,761
Thanked: 1,771 Times
Red face Re: New rules at HDFC Bank for Car Finance

Quote:
Originally Posted by Fornax View Post
I have booked a Chevy Beat by paying 25000, and having been in the know, asked the dealer to ensure that the car alloted to me undergoes PDI. I also made it clear that in case the car is found to have any defects, scratches or repairs, I am within my rights to reject it.

However, when I applied for a car loan with HDFC Bank, they said, they would not disburse untill the dealer issues a insurance cover note. Now, for issuing the insurance cover note, the dealer has to assign a engine and chassis number, which means I will lose the insurance amt, if indeed the car is rejected by me. Also, I am not sure how the dealer will assign a car and give me insurance note having only received 25000.

Its very confusing at the moment. Also, HDFC Bank stated that this cover note procedure started only 3 months back.

Please help with your suggestions.
@Fornax
This is confusing. Why would you want the dealer to do the PDI when you should do it personally to check for any defects/issues. Secondly why does HDFC want the Insurance note from the dealer when you could buy the Insurance online/through agent and submit it to them.
Normally the car loan amt is disbursed after you have paid your part to the dealer isnt it? Once you have paid your part, the dealer assigns the car to you (subject to you approval post PDI), you take an insurance and submit the papers to HDFC before the registration. Pls correct me if I am wrong in my understanding.
ghodlur is offline   (1) Thanks Reply With Quote
Old 15th June 2012, 08:19   #363
Distinguished - BHPian
 
condor's Avatar
 
Join Date: Jun 2006
Location: Speed-brkr City
Posts: 9,656
Thanked: 2,766 Times
Default Re: New rules at HDFC Bank for Car Finance

Can you ?

1. Do the PDI
2. Once you are satisfied, and accept the vehicle, take the Chassis / Engine num & give it to the insurance co.
3. Get the cover-note
4. Go for regn.
condor is offline   (1) Thanks Reply With Quote
Old 15th June 2012, 08:43   #364
BANNED
 
Join Date: Jan 2007
Location: NAMMA BENGALURU
Posts: 5,613
Thanked: 2,434 Times
Default Re: New rules at HDFC Bank for Car Finance

Quote:
Originally Posted by Fornax View Post
However, when I applied for a car loan with HDFC Bank, they said, they would not disburse untill the dealer issues a insurance cover note. Now, for issuing the insurance cover note, the dealer has to assign a engine and chassis number, which means I will lose the insurance amt, if indeed the car is rejected by me. Also, I am not sure how the dealer will assign a car and give me insurance note having only received 25000.

Its very confusing at the moment. Also, HDFC Bank stated that this cover note procedure started only 3 months back.

Please help with your suggestions.


Hi Buddy,

Whatever the Bank has mentioned is Correct, And NO, this rule is in force from the day Auto-Loans started and is adhered to by most of the Banks Pan India

I doubt the dealership here, Chevy Beat and they dont have a car in stock for you..? Simple things that you need to do in your scenario..

1) Ask the dealer for the cars available in stock, or wait untill stocks arrive.
2) Do the PDI and confirm the car with the Chassis & Engine number, give the details to the disbursing bank.
PAVAN KADAM is offline   (1) Thanks Reply With Quote
Old 16th June 2012, 16:38   #365
BHPian
 
Fornax's Avatar
 
Join Date: Dec 2009
Location: Bombay
Posts: 288
Thanked: 78 Times
Default Re: ARTICLE: Pre-delivery Inspection (PDI) & Check List

Thanks Pavan, ghodlur and condor.

I have sent a mail to the dealer and awaiting their reply. Its been more than 2 days, but they dont seem to be able to get back with an answer. Here is the email verbatim:

Hi Ankit,

I spoke to few people in the know, and would request you for the following information:

1. Do you have a Apr/May manufactured Super Red Chevy Beat in stock?
2. If you dont, what is the earliest time for it to be in stock?
3. Once you have it in stock, I would like to inspect the vehicle before being alloted in my name.
4. Once inspected and approved, I will give you 3 lacs in cheque as my own contri, and the insurance company can be handed over the insurance note, following which they will disburse the finance amt.

Let me know if this works for you, and also answers to 1&2.

Thanks
Milind Kolekar
(Chevy Beat LT Option Pack. Super Red.)
Fornax is offline   Reply With Quote
Old 19th June 2012, 14:17   #366
BHPian
 
VikrantD's Avatar
 
Join Date: Aug 2010
Location: Thane
Posts: 86
Thanked: 10 Times
Default Re: ARTICLE: Pre-delivery Inspection (PDI) & Check List

I need urgent help from the experts. Our organization is donating a vehicle, Tata Venture, to an NGO. The dealer is offering a 2011 manufactured vehicle with a discount of Rs. 50,000. Why am I worried??? Because the maintenance of the vehicle will be borne by our organization.

I need help. I need to understand whether this will be a good deal. Also, we are purchasing the vehicle in June 2012, ideally how old can the vehicle be? If the dealer is saying 2011, how old in 2011????
VikrantD is offline   Reply With Quote
Old 20th June 2012, 21:59   #367
BHPian
 
Fornax's Avatar
 
Join Date: Dec 2009
Location: Bombay
Posts: 288
Thanked: 78 Times
Default Re: ARTICLE: Pre-delivery Inspection (PDI) & Check List

Quote:
Originally Posted by Fornax View Post
...
I have sent a mail to the dealer and awaiting their reply. Its been more than 2 days, but they dont seem to be able to get back with an answer...
Now, it's been 6 days, but the only response is, they still don't have a car they can allot to me! This is for the Beat, cannot imagine what awaits those that go for lesser cars from GM stable viz. UVA or Optra.
Fornax is offline   Reply With Quote
Old 28th June 2012, 13:29   #368
BHPian
 
Rotorhead's Avatar
 
Join Date: Sep 2006
Location: Bangalore
Posts: 926
Thanked: 17 Times
Default Re: ARTICLE: Pre-delivery Inspection (PDI) & Check List

I have booked a Skoda rapid elegance recently and the car has arrived at the dealer stockyard. The VIN number is TMBBLENA5CXXXXXXX which when decoded says its manufactured in th month of may 2012. Now for a very amateurish question (sorry abt that) - Is it okay to consider this particular vehicle since it seems to be more than a month or more old or should i request for car manufactured recently , for example by june.
Rotorhead is offline   Reply With Quote
Old 4th July 2012, 16:10   #369
BHPian
 
Rotorhead's Avatar
 
Join Date: Sep 2006
Location: Bangalore
Posts: 926
Thanked: 17 Times
Default Re: ARTICLE: Pre-delivery Inspection (PDI) & Check List

as i understand the dealers themselves also carry out a PDI from their side before delivering to customer. Will they share their pdi to the customer or will the provide the same on request? When i checked with TAFE , they said that their pdi document will not be shared with the customer. As a customer should i not be aware of this?
Rotorhead is offline   Reply With Quote
Old 4th July 2012, 16:32   #370
BHPian
 
Join Date: May 2009
Location: Bombay
Posts: 357
Thanked: 100 Times
Default

Quote:
Originally Posted by Rotorhead
I have booked a Skoda rapid elegance recently and the car has arrived at the dealer stockyard. The VIN number is TMBBLENA5CXXXXXXX which when decoded says its manufactured in th month of may 2012. Now for a very amateurish question (sorry abt that) - Is it okay to consider this particular vehicle since it seems to be more than a month or more old or should i request for car manufactured recently , for example by june.
Absolutely fine to consider. I recall when the wait period for the Polo was 3 months, i had received mine in early Oct with a manufacturing VIN that read July. 22,000 km and one service later, i have never been happier. In fact so happy that got myself a Vento TDI as well.
NevGin is offline   Reply With Quote
Old 16th July 2012, 16:31   #371
BHPian
 
noidea's Avatar
 
Join Date: Apr 2010
Location: Kolkata
Posts: 141
Thanked: 71 Times
Default Re: ARTICLE: Pre-delivery Inspection (PDI) & Check List

Took delivery of Polo yesterday but the dealer insisted that PUC certificate is no longer provided by the dealers or the manufacturers and that we have to get it done ourselves.

Have the rules changed??
noidea is offline   Reply With Quote
Old 17th July 2012, 08:04   #372
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,761
Thanked: 1,771 Times
Smile Re: ARTICLE: Pre-delivery Inspection (PDI) & Check List

Quote:
Originally Posted by noidea View Post
Took delivery of Polo yesterday but the dealer insisted that PUC certificate is no longer provided by the dealers or the manufacturers and that we have to get it done ourselves.

Have the rules changed??
I dont think the PUC certificate is given by the dealer at all, it is generally by the manufacturer although not in paper format. Generally any new car comes with a 6 month PUC certificate built in along with the car documents. Its after 6 months that the owner has to get the PUC done by hilself. I hope I am correct in my understanding, experts can confirm.
ghodlur is offline   (1) Thanks Reply With Quote
Old 26th July 2012, 13:36   #373
Newbie
 
Join Date: Aug 2009
Location: New Delhi
Posts: 23
Thanked: 7 Times
Default Re: ARTICLE: Pre-delivery Inspection (PDI) & Check List

Hi Guys,

Sorry if this a wrong thread for my question, but wanted an opinion from the experts.

I booked i10 Sportz AT couple of days back and today the dealer gave me the VIN and engine no. of the car alloted to me. Well actually, he was reluctant to give this information and i had to ask him 4-5 times before he finally listned. He mentioned that car is a March 2012 make, which makes it almost 5 months old now. It probably has been with the dealer for 3-4 months.

Should I consider this car? is it normal to have 4-5 month old automatics in inventory for Hyundai, especially during this period? The fact that i had to ask the dealer few times before he finally gave me the info makes me a bit suspicious, at one time he said "sir gaadi is 2012, month you will get to know only after you purchase the car"?

Any thoughts?
ukoul is offline   Reply With Quote
Old 26th July 2012, 15:21   #374
Senior - BHPian
 
sagarpadaki's Avatar
 
Join Date: May 2010
Location: Bengaluru
Posts: 2,509
Thanked: 1,122 Times
Default Re: ARTICLE: Pre-delivery Inspection (PDI) & Check List

Quote:
Originally Posted by ukoul View Post
Hi Guys,

Sorry if this a wrong thread for my question, but wanted an opinion from the experts.

I booked i10 Sportz AT couple of days back and today the dealer gave me the VIN and engine no. of the car alloted to me. Well actually, he was reluctant to give this information and i had to ask him 4-5 times before he finally listned. He mentioned that car is a March 2012 make, which makes it almost 5 months old now. It probably has been with the dealer for 3-4 months.

Should I consider this car? is it normal to have 4-5 month old automatics in inventory for Hyundai, especially during this period? The fact that i had to ask the dealer few times before he finally gave me the info makes me a bit suspicious, at one time he said "sir gaadi is 2012, month you will get to know only after you purchase the car"?

Any thoughts?

4-5 months old hyundai cars are rare. I suggest you have a thorough look at the car phisically and under the hood if at all you are going for it. Or inist he place a fresh order to the factory for a new piece. You can ask for good discounts if you finalize on going with this 5 month old car
sagarpadaki is online now   Reply With Quote
Old 19th September 2012, 06:56   #375
BHPian
 
Join Date: Jul 2007
Location: Mumbai
Posts: 101
Thanked: 30 Times
Default Re: ARTICLE: Pre-delivery Inspection (PDI) & Check List

Thanks for the PDF but I think the huge watermark across the whole document wasn't necessary. Smaller fonts were just fine or at least the opacity could have been reduced. Anyways thanks.
mod_to_odd is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Ferrari Pre-PDI and Post PDI. ferrariKSA The International Automotive Scene 66 4th January 2012 14:55
Maserati Pre-Pdi and Post Pdi. ferrariKSA The International Automotive Scene 33 21st April 2010 18:57


All times are GMT +5.5. The time now is 03:36.

Copyright 2000 - 2016, Team-BHP.com
Proudly powered by E2E Networks