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Old 3rd May 2016, 17:08   #61
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Default Re: Temporarily relocating abroad: What should I do with my cars?

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Originally Posted by aspire View Post
Hi,

Was reading through the posts, where some folks are handing over the cars to their neighbours/relatives etc, to drive around intermittently, so that the car remains in shape, was just wondering, what if the person meets with an accident? Too much of a hassle, would advise to sell it and move on.

Regards
Shailesh
Trust me, it is a hard (emotional) one, to sell a nice car in India. But keeping a car idle for extended periods or trusting others to take care of your car are not the best things you can do.
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Old 3rd May 2016, 21:34   #62
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Default Re: Temporarily relocating abroad: What should I do with my cars?

My 2 cents in this discussion is that unless you know for certain you will be returning in a maximum of one year, it makes no sense to keep the car. I do understand the emotional attachment, but in this case the financial loss, hassles of having someone drive your car once every couple of weeks, ensuring the car is cleaned and serviced etc. just sound like too much hassle unless you give the car to someone to use.

Additionally, the money kept in the bank and compounding will probably mean you can afford a similar, if not better car once you return.
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Old 5th May 2016, 18:26   #63
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Default Re: Temporarily relocating abroad: What should I do with my cars?

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Originally Posted by SwatiS View Post
Hi All.

I have a similar situation. I have an Amaze that's just completing a year and has run only 5000 kms approx. I would be going to US for atleast 6 months to 1 year.

1. Should I sell it? My parents wound not use it when I am not here. (I am inclined towards selling it after reading this thread).
2. I have a 7 year EMI with HDFC for the loan (Big mistake). Fore-closing the loan is a big mess with them. How does the loan situation work if I sell it?
3. Can I transfer the car ownership to my dad so that he can sell it in my absence? Or is there any way I can authorise him to sell the car (Its currently in my name). Would that make the new buyer as the third owner?
Hi
If you are certain you will be gone only for a maximum duration of a year why do you wanna sell the car ? Please keep it. Your parents may not use it but I am sure that will be willing to start the vehicle occasionally let it idle for sometime. Use the ac check the headlights and all electrical components. This way the car will be in really good shape. Additionally like other members suggested your parents can hire a driver and go for a short drive. Selling the car just because you will be going abroad for a year doesnt make much sense. Good luck.
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Old 5th May 2016, 20:06   #64
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Default Re: Temporarily relocating abroad: What should I do with my cars?

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Originally Posted by SwatiS View Post
I have a similar situation. I have an Amaze that's just completing a year and has run only 5000 kms approx. I would be going to US for atleast 6 months to 1 year.

2. I have a 7 year EMI with HDFC for the loan (Big mistake). Fore-closing the loan is a big mess with them. How does the loan situation work if I sell it?
3. Can I transfer the car ownership to my dad so that he can sell it in my absence? Or is there any way I can authorise him to sell the car (Its currently in my name). Would that make the new buyer as the third owner?
I was in a similar situation last year but the only difference was I had a car which had run 1.2L km. Initially my company had told that my assignment will be for 6 months to 1 year in US and hence I just handed over my car to my cousin to take care of. Few months after coming here, I came to know that I have to continue staying here for atleast 3-4 years. Realized that there is no point in keeping the car and hence sold it.

This is the procedure I followed to sell the car in India being in US:
1. I had few months of EMI left and hence I foreclosed it. All I had to do is to clear off the balance in the loan account and mailed the branch manager to close the account and requested him to hand over the no due certificate and Form 35 to my father (he was the nominee).
2. Downloaded couple of forms from Karnataka RTO website that are required to sell the car (don't remember the exact form names), signed them and posted the hard copies to my cousin.
3. My cousin was then able to sell my car in India with the help of above mentioned documents.
4. Notified insurance company that car is no longer used by me.
5. Ensured that the car's new owner's name is updated with RTO.

If your assignment won't exceed 1 year, I suggest you to keep the car since it's very new. If you are unsure about duration of the stay or if it gets extended after coming here, you have the option to sell it being here. It should be noted that the bank I dealt with was Corporation bank. You must ensure that HDFC too is flexible like them in closing the account and handing over the above documents to person known to you.

Edit: Just noticed that I'm replying to a 4 month old post, sorry

Last edited by guyfrmblr : 5th May 2016 at 20:16.
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Old 5th May 2016, 21:54   #65
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Default Re: Temporarily relocating abroad: What should I do with my cars?

Some years back we used to travel a lot, and always kept upto five cars, three for office staff one for my father and one for me. All five cars used to do about 40-50 k km in 6-7 months, and less than 5000 km in the next 5-6 months till our season began again.
At times I have just disconnected the battery and kept two of the five cars idle for upto five months without any issue. We learned the hard way to also keep air intake and tail pipe covered with a tight fitting dead cap.
Car should be properly washed specially wheel arches and under floor, before the lonng hybernation. Keep fuel to the minimum too. You can also javk up and support the caron blocks.

A few points to remember before restarting after a long hybernation.
Check for rats, insects, kittens etc under the hood, ask a mechanic to look over, and after fitting battery leads try cranking. If car cranks and starts within the first 10 seconds good, otherwise get battery charged externally and try again.
Once started drive atleast a few km, and get your tyre pressue checked. Service the car next day changing air and fuel oil and all other fluids even if it is not due km wise.
Fill up and one longish drive later your car is as good as it was before you left her to hybernate.

Rahul
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