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Old 8th October 2016, 19:20   #91
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Default Re: Guidelines: Car Ownership Transfer in Bangalore

Originally Posted by Chetan_Rao View Post
Don't see what else I could've done, except transferring the car before handover which isn't practical at all.
Yep. you are right. This isn't practical - especially if one is selling a car thru some advertisement. I had a similar experience - both as a buyer as well as the seller.

The buying experience was butter smooth.
1) I handed over the DD
2) The previous owner had kept all the paperwork ready - signed it
3) I engaged a services of a broker - He initiated the transfer procedures within 2 -3 hours. I got the fees paid receipt from RTO on the same day
4) I got the insurance transferred on the same day
5) I got the RC card within 2 weeks

The seller was also from bangalore, but different RTO. So I had to take a NOC.

Absolutely I did nothing other than sign the required papers. I paid the broker 2.5K for the job.

The selling experience was a bit more tedious. The buyer did not want to shell out any money to a broker and neither was I willing to pay. Also the buyer was from a different district - near Mysore

1) Got the DD from the buyer
2) Signed and gave the papers to him
3) Handed over the car to him also, along with the keys, but the original RC card I retained. He took a copy of the card and left immediately for his hometown (mysore)
4) I went to the RTO, applied for a NOC (By submitting the original RC card, PUC certificate and a nominal fees - I think less than rs.50/-
4a) I called up the insurance folks and informed them about the ownership change. They said that the insurance can be issued in the new persons's name only after the RTO changes the ownership.
5) After 2 weeks, I got the courier from the RTO with the RC card and a NOC certificate.
6) I couriered this to the buyer - cost Rs.30 or so
7) After multiple follow ups with the buyer over phone and whatsapp, he transfered the vehicle in his name. Sent his revised insurance and the RC card. This took almost another 30-40 days.
8) I submitted the copy of the revised ownership along with the copy of the new insurance taken by the buyer to my old insurance folks. (For NCB letter)
9) After about 2 weeks, I got a NCB letter with 50% NCB from the insurers, valid for 3 years

The whole process took about 2 months! :-) But it got done with no major hiccups other than effort required for communication and follow up.
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