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Old 1st January 2010, 12:27   #1
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Default Tata Nano - Buying a car from an allottee who does not want to take delivery

Hi Guys

Need some help. Went to Wasan Motors and he said there are a couple of Nanos ready for delivery but both of them do not want to take delivery.

How do I check whether the person has taken a loan for the car or or not?

I almost made the deal for one Nano and this morning Wasan called me and told me that this person has taken a loan and buying the car is a risk as once we make the payment the allottee may not pay off the loan and it is then our liability once car is transferred. And the allottee was now asking for a premium as her loan closure amount was Rs 20k! shocker!

I am making the payment to Wasan by pay order and they are paying off the allottee.

He has another car which I am checking tomorrow. I have told him to call this allottee with his allotment letter and proof that he has not taken a loan. Got a little upset and I told him that if it does not happen tomorrow and if the allottee does not turn up with the papers I am not interested.

Please advice how should I check as the RC book is not there and the car I will be seeing tomorrow is not even registered

Thanks in advance
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Old 1st January 2010, 12:28   #2
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And a very happy new year to all the Team-Bhpians!
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Old 2nd January 2010, 01:44   #3
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The best option would be to buy the car from the person who got it financed and currently can give u a proof that he/she have forclosed the loan.

moreover, if i am not wrong there is a option of transfer of loan (not sure). you might want to use that (if available)
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Old 2nd January 2010, 10:51   #4
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An option of a loan transfer exists.

you have to pay a nominal transfer fee.
A Rs 20K premium is certainly not justified.

Even if I consider the on road price of the Nano at Rs 2 lac, that translates to 10% of the amount.
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Old 2nd January 2010, 11:24   #5
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Vehicles are governed by the Sale of goods Act.

Ownership passes with possession. The RC book is only incidental evidence of ownership. Its like a government record but not actual ownership.

Get a valid receipt and a delivery note from the allottee and you should be set for your NANO experience
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Old 2nd January 2010, 11:54   #6
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Is the car registered yet, if yes, check RC , it have details if purchased on car loan.
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Old 2nd January 2010, 16:37   #7
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Thanks Guys for the response. The deals done!

Got a car thats not been taken on loan. Took the xerox of the receipt and the allotment letter.

Car is going for registration and will get the delivery on Wednesday 6th jan '10

Hopefully everything will go smoothly.

Thanks tejas for coming along!
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Old 6th January 2010, 00:29   #8
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Default Finally - The Nano Arrives!

Hi Guys

Got the Nano this evening. Went for a long drive and just got back. Pics attached. Quite late right now so buying experience and how we came down to buying a Nano story tomorrow.
Attached Images
  
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Old 6th January 2010, 00:35   #9
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mods, can you change the title of this thread and move it to the car purchase or initial ownership reports forum? or should I just start a new thread tomorrow.
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