[anandpadhye]

I have a company car lease, which has expired and I have all the papers (NOC, etc. from the company). I also have a letter from the company saying the NCB can be transferred to my name. However, I don't intend to transfer the car into my name, I am exchanging it, so need advice on the whole process.

Here are the details:
- Current car is in the name of the company but lease is over, all dues are paid, I have all NOCs
- I am buying a new car in my name (not on company lease)
- The new car downpayment is not yet made, will be done in a couple of days, so VIN is not allocated
- I need to get the 45% NCB on my current company car transferred to my new personal car (NOC from my company is available)
- The new car insurance quoted by the dealer is inflated as usual so I am looking to buy my own

Can someone let me know the process?

Thanks in advance!

[aadya]

Originally Posted by anandpadhye

I have a company car lease, which has expired and I have all the papers (NOC, etc. from the company). I also have a letter from the company saying the NCB can be transferred to my name. However, I don't intend to transfer the car into my name, I am exchanging it, so need advice on the whole process.

Here are the details:
- Current car is in the name of the company but lease is over, all dues are paid, I have all NOCs
- I am buying a new car in my name (not on company lease)
- The new car downpayment is not yet made, will be done in a couple of days, so VIN is not allocated
- I need to get the 45% NCB on my current company car transferred to my new personal car (NOC from my company is available)
- The new car insurance quoted by the dealer is inflated as usual so I am looking to buy my own

Can someone let me know the process?

Thanks in advance!

We have to get the NCB reserving letter from the current insurer. Submit it along with the transfer of ownership document(lease to self owned) to the new insurer. Use coverfox to search for good deal and pitch with that as the base to the agent.

[Aravindpn]

Hi All,

This question is more from RC transfer point of view.

I bought a used Honda City in Thrissur Kerala two weeks back and the insurance of the car was in expired status when I bought it. Now I need to give docs for RC transfer. Iam planning to fill the details in ICICI lombard website for survey inspection and issue of new policy. My questions are:

1. Valid insurance is required when we submit docs for RC transfer? I presume its yes.

2. If instead of online process, If I visit any insurer office will they issue insurance in my name or in the name of old owner (as in RC)?

2. When I fill forms for new insurance, shall I fill my name or old owner's name in insurance policy to facilitate RC transfer (if this has a bearing on RC transfer)? In any case premium payment will be made by me as the old owner had reduced car cost to the extent

Thanks
Aravind

[Sail]

Dear All,

I have recently purchased a pre-owned car in Delhi via a dealer in Gurgaon.

The car has comprehensive Insurance by Kotak till the end of the year, and 3rd party Insurance by Bajaj Allianz valid till Dec 2023.

I have spoken to Kotak about the name transfer on their toll-free no, they need new RC + last owners NOC. I am expecting to receive the new RC by the coming week, but I don’t have the last owner contact no. I think the dealer is also not in touch with the last owner (I did question the dealer, they gave some vague reply that nothing is require, just drive the car etc. and tried to avoid).

Now, what options do I have? Do I need to buy new comprehensive insurance on my own? Or keep fighting with Kotak over emails.

And lastly, what about the 3rd party insurance? Is it the same case as the comprehensive one or it will be automatically transferred to the new owner?

Appreciate your kind guidance as I am new to pre-owned car and not very much aware of insurance transfers.

Brdgs,
Sail