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Old 18th July 2007, 15:55   #1
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Default Loan and Out of state registeration

I will be purchasing a new vehicle shortly from Noida, but will be registering it in Ludhiana.
The route for such a thing is to get a temporary number in Noida for 1000rs, and this number will be valid for 1 month.
I am not sure about how the loan thing will work out.
My workplace is Noida, so I suppose only a Noida Based bank will give me a loan? Or can I take a loan from a Bank in Ludhiana also?
What about the Registration part then. What is the procedure for this.
Has anybody done something like this, i,e, got a vehicle from a different state, than the state of registration?
Please give some detailed info about any procedural difficulties involved?
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Old 18th July 2007, 16:05   #2
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Well, i bought my car from delhi and got it registered from Faridabad and my house is in dehradun
Loan was also taken from a delhi based bank. The only issue is you should be able to show proof of residence from whichever place you want to take the loan/get the vehicle registered. Thankfully I didnt face too many issues , apart from the fact that I got my reg papers 2 months after i got the car as I went through some people who knew this stuff.

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Old 18th July 2007, 16:13   #3
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I have proof of residence for Ludhiana, since thats where my Permanent residence is.
But my place of work is Noida.
In your case it was Intra NCR thing, so must be easier.
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Old 18th July 2007, 16:17   #4
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Well it wasnt easy as the haryana govt was cracking on the RTo's as a lot of people were getting their cars registered from haryana while buying them from del to pay much lower registration taxes. If you have a proof of residence of Ludhiana it shouldnt be a problem . Just talk to the guys at the showroom and the bank, they should be able to assist you with that or give you advice.
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Old 18th July 2007, 16:22   #5
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Even punjab has just 2% registeration, much lower than 3-5% approx in UP.
Moreover I do not own any property in Noida, so registering a vehicle here would have to be on the rented apartment, something which I do not want to do.
So Ludhiana is the best option since I belong to ldh, and most of my permanent residence docs are from there.
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Old 18th July 2007, 16:24   #6
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Yes it makes sense to get it done from Ludhiana if that is the case.
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Old 18th July 2007, 17:36   #7
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TSK, our Getz was bought from Hyundai Motor Plaza Bombay since they were offering more discounts as compared to Hyundai dealers in Pune. They even agreed to get the car registered in Pune RTO and they did. The entire deal worked out cheaper than buying a car in Pune and registering it here. They had to pay octroi at Pune for the car which was a small amount IIRC. My cousins Santro was bought using the same route and the deal saved him around 15-20k.
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Old 18th July 2007, 17:58   #8
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Tanveer - Registeration in UP for diesel vehicles is 5%, irrespective of individual or company owned (where petrol is 2.5% & 5% respectively) so I too think it makes better sense to register from Ludhiana.

About loans I think you should be able to get it financed from LDH since all big banks are there anyway & you have proof of residence there. I don't think it matters to them where you work as long as you have your salary slip & IT return.

I bought my mom's car from Delhi though & had it registered there as I had proof of residence but the car was financed through our bank in Moradabad. I think they had no problems as loong as they recieved the RC of the car.
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Old 18th July 2007, 22:07   #9
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Oh ok.. Thats nice to know.
I will be purchasing from Noida, since its more convenient, and will go to Ludhiana for the registration. Will contact a Ludhiana branch for the same.
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