[triedeverything]

Originally Posted by triedeverything

I'm not sure if this is the right thread - but here goes. Getting the RC book.... errr...un hypothesized has been clearly mentioned. I would like to know if
- there is something that needs to be done from the insurance point of view? I see one document to the insurer. I've just renewed my insurance, will I need to send this document to the present insurer or can it be done the next time I go window shopping for insurance next year?
- Maybe hoping for the moon, but does this in anyway reduce the premium?

Sorry for the bump, but is there anyone here who foreclosed their loan and did something to make sure the insurance records are updated?

[Mission_Safari]

Originally Posted by triedeverything

Sorry for the bump, but is there anyone here who foreclosed their loan and did something to make sure the insurance records are updated?

I checked with HDFCergo on updating the insurance records after the HP removal from the RC. All they said was scan the RC copy and mail it to them. That should take care of the updation.

[amitbjha]

Documents Required
1. RC Original copy
2. Insurance self attested photocopy.
3. NOC from Bank(Original).
4. Form-35 (original)Two in number issued by bank.
5. Affidavit
6. Registered Envelope

Steps required
1. Go in the morning probably at 10:00 AM with all the papers except
affidavit.
2. In front of RTO there are many notary buy a afidavit and fill it there
itself(basic information about car).Get it attested notary will do it
themself(cost 80 RS).
3. Go to counter no 8.Show all the documents.He will sign on it and
enter into their register.
4. The guy at counter no 8 will ask to collect the relevnt file of your car.
5. Go to right of Counter 8 and show the sign. The guy here some tiwari
will write the CAR No and will get the file from some record room.
6. The CAR File will be send to counter 8 again.The guy at counter 8
again will match the sign with the original sign you have done at the
time of purchase.
8. He will ask you to sign at a place.
9. He will ask to get the sign from RTO officer.
10. Go to RTO officer with the file he will match your face and sign on it.
11. Go gain at counter number 8.He will enter the Fee 100rs on it.
12 . Go to counter number 2 and submit the fee.He will give you a receipt.
13 submit a copy to counter no 8.
14. Go and collect the RC after two days in the evening.

Total Cost : 180 RS
Total Time : 2 Hours.

I hope this will help to many people here. I decided to do it byself after a agent asked me 1000rs for this.

[madhukar_n]

I had the worst experience w.r.t to RTO. I got convinced it is the most corrupt govt organization. at least in karnataka.. thanks to yediurrappa govt.
the story goes like this:
my car was registered in the name of company. so on the RC book, it had to hypptheticated, clearance certificated and transferred to my name. so i went to yeshwantpur rto to for all this process. he just cleared the hypothetication and gave me the RC book. but when i went to yelahanka rto he sent me back saying get me the clearance certificate. i again went to yeshwantpur rto and there they started harassing me for one document after the other. they made me run around 6 times(so everytime i went i had to apply half day leave as they used to make me wait) and after i gave all the docs, he started telling come tomorrow and it will be ready and the tomorrow never came. First time i went to rto was jun 10th 2009 and till aug 5 th nothing happend. i got totally pissed off and went to some agent and asked him to get everything done. on aug 8th he started moving the file and aug 18th i got my RC book. the total cost was 2500/-.
After this i made a vow not to enter RTO without an agent !!!!!!

[BaCkSeAtDrIVeR]

Originally Posted by madhukar_n

.... went to some agent and asked him to get everything done. on aug 8th he started moving the file and aug 18th i got my RC book. the total cost was 2500/-.
After this i made a vow not to enter RTO without an agent !!!!!!

If you had met the agent at first, you would could have saved 2K. You have paid maximum of 1.5K. (my guess).

[iTNerd]

Sold my SX4 just 2 days after listing it in carwale.com, and that too, to the first person, who inspected it! The buyer wants to pay off the full amount in 2-3 days, so that he can get the car before diwali (by 16th October).

Now the problem - the car has still 6 EMI left on the auto-loan (car hypothecated with HDFC bank).

I would apply for pre-closure of the loan and pay off the remaining amount with 3% penalty. I am newbie when it comes to selling car/RTO stuffs and so please excuse if I am asking any silly questions:

1) How much time it would take for the NOC to come from the bank? Would it be possible to get it hand to hand, after the paying up the pending loan amount/balance?

2) As the RC is in my name, what is the formality that I have to do, so that I can sell off the car to the buyer? that is, with the NOC from the bank, do I have to first remove the hypothecation from my RC ? Can I just give the NOC from the bank to the buyer?

3) Do I need to sign any legal agreement with the buyer?

4) The insurance on the car is valid till July, 2010 with no claim so far. Can I transfer some part of it to the new car that I'll be getting?

5) Do I have to inform the insurance company to change the name to that of buyer?

To sum it all, the buyer wants to pay the full amount in 2-3 days and acquire the car by 16th Oct (before Diwali). Is that possible? If yes, could you suggest what steps I should take up? Please, please throw some lights to my confused questions!

[simply_sunny001]

Guys,

Do anyone have the customer care email/contacts of the Tata Mototrs Finance Ltd (TMFL), i had a 3 year loan with them for my safari which was completed last month.

Sept 09 was the last EMI, but its been almost 1.5 months, i havnt receieved the NOC which i believe should have been with me by now.

Where can i escalate the matter to get it resolved quickly ?

please advise

thanks

[benbsb29]

My answers to your queries as below.

Originally Posted by iTNerd

1) How much time it would take for the NOC to come from the bank? Would it be possible to get it hand to hand, after the paying up the pending loan amount/balance?

Following the payment of the last EMI on my car loan, i contacted my bank (Kotak Mahindra) by email asking for the procedure regarding the NOC to be initiated at the earliest. I received the NOC within 2 weeks of this request via courier. So, basically you need to be pushy and also demand things more quickly.

Originally Posted by iTNerd

2) As the RC is in my name, what is the formality that I have to do, so that I can sell off the car to the buyer? that is, with the NOC from the bank, do I have to first remove the hypothecation from my RC ? Can I just give the NOC from the bank to the buyer?

I believe you will need to get the hypothecation removed before selling it.
The person in whose name the car is registered needs to sign on the forms received along with the NOC from the bank before submitting to the RTO.

In Bangalore, the process for hypothecation removal is fairly simple. Go to the RTO where the car is registered with the NOC and all original documents. Pay Rs.100/-, get a receipt and submit the documents along with the receipt to the RTO. You will be given a receipt and asked to collect the documents with the hypothecation removed after 3-4 working days.

Originally Posted by iTNerd

4) The insurance on the car is valid till July, 2010 with no claim so far. Can I transfer some part of it to the new car that I'll be getting?

NCB is applicable to the user, and not to the car. This can hence be transferred to your new car.

Originally Posted by iTNerd

5) Do I have to inform the insurance company to change the name to that of buyer?

Following hypothecation removal from the RC, it has to be updated to the insurance company as well.

Originally Posted by iTNerd

To sum it all, the buyer wants to pay the full amount in 2-3 days and acquire the car by 16th Oct (before Diwali). Is that possible? If yes, could you suggest what steps I should take up? Please, please throw some lights to my confused questions!

For details on the actual procedings after selling your car, i would wait for someone else to provide the details, as i am not too sure myself.

Hope that helps!

[mohan41]

I bought my Santro AT in Jul 2007 with loan from ICICI. Half the car purchase amount was paid by myself, and the loan was taken for remaining half (duration one year). Sometime in early 2008 I went to US and came back in March 2009. During this period I didnt check the loan. After I came back, I checked my bank statements and confirmed that they have not deducted any EMI after Jul '08. They had however not sent any NOC to my address in Bangalore.

I have to contact ICICI but I have misplaced any documents related to this loan, and all I have now is my bank account statements which shows the EMI debit from my ICICI bank account. All the EMI debit entries look like "LABNG00011000727/LN INST JUL08". Is the first word in the entry i.e., LABNG00011000727 the loan account number? If so I can quote the same and contact customer care asking them to send NOC and other documents.

[NetfreakBombay]

Visit ICICI, they can look up loan details based on car Registration + your demographic data as well.

[0nubhav]

Hi Guys,

This would be my second post in T-BHP. Didn't know the exact forum but this one to ask this question. I really need your help. Here's the issue :

I am planning to buy a car from Mumbai. I'm located in Bangalore right now. I'll have to take a used car loan for the same. However am not sure if any of the Indian banks have this facility wherein I can take a loan from Bangalore and get the vehicle from Mumbai. If this facility is available within banks how to proceed with the same procedure. And what all information do I have to collect from the owner of the car.

Would really appreciate any pointers on this !!


Thanks in advance.

Anubhav.

[jinojohnt]

We consumers need to lobby for laws that mandate a contract, so that customers are provided with compensation in case the bank delays the hypothecation cancellation. This is fair enough, as customers are penalised by banks for delay in payments from the customer side. My high hopes...

[samartz]

Hi Guys,

Thanks for all the information regarding removal of HP. I got it done last weekend so just thought to update the same.

Let me tell you the process is very easy and simple and it took me exactly 1 hr right from entering the RTO and finishing the process and comming out of it with the receipt. Total cost to me = 100 (Chalan) + 3 (file) + petrol cost

I hope following information will be very helpful to all the guys and specially to those who has KA04 registration

RTO office : Yeshwantpur Shopping complex

Documents to carry
1. original RC book (keep the photocopy of the same with you)
2. Photocopy of a valid insurance document
3. Photocopy of a valid emmision document
4. Photocopy of Road Tax Receipt (although it was not mentioned in the posts here but i enclosed it and they didnt ask me to take off)
5. Both the copies of NOC and Form 35 (I think, sorry I forgot the correct form no), keep a photocopy of the same for your reference.

You have to reach RTO before 12 o'clock cos the cash counter is open till that time (I went on saturday so may be this timing is for saturday only. if required call up and check before going there) only but the RTO is open till 5.30pm so once the challan (Rs 100) is paid then you can deposit the documents even between 12 pm and 5.30 pm

Steps to be performed
1. Buy a file cover, it is available at the ground floor entrance shops for Rs 3/-
2. Attach all the documents mentioned above in the file
3. Write the Vehicle Reg number on the file cover (for easy reference of RTO guys)
4. Go to 3rd floor, Cash counter is towards you left side.
5. Tell the person sitting at the counter your vehicle reg. no. and the job (H.P. Removal)
6. Attach both the challan slips into the file you recently arranged
6. Now go to the right side of the floor (3rd floor only), there you will find counters.
7. Go to last but one counter (towards your right). Show him the file. He will check the documents and sign on the file (I didnt find the staff to be very courteous but somehow managed, no complains)
8. He will sign on few of the documents and will give the file back to you.
9. Take the file to counter no. 2. This guy will take the documents and will issue you a receipt and will ask you to collect your updated RC book after 5 days after 4.30 pm (and offcourse before 5.30 pm)

So now you are done with the process and have saved some money also which otherwise you would have given it to some RTO agent.

I again thank TBhpians for all the information they have shared and hope that this information will help someone in doing their bit of work.

[sbraj]

My car was registered at Yeswantpur RTO. My address has got changed and now falls under Indiranagar RTO. RC book still has the old address mentioned.

Where should I go for hypothecation process - Yeswantpur RTO or Indiranagar RTO?

NOC received is to the new address. But the copy for RTO do not mention any address. Rather it has the registration number only. But copy for insurance company has address mentioned.

Since my address has got changed, would RTO require a proof of address? What documents would they accept? Bank (SBI/ICICI) statement or landline (Airtel) bill original would do?

[GTO]

Originally Posted by sbraj

My car was registered at Yeswantpur RTO.

RC book still has the old address mentioned.

But the copy for RTO do not mention any address. Rather it has the registration number only.

You answered your own question. Well, almost

I guess you could get the hypothecation removed at the Yeswantpur RTO itself.