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-   -   Car loan disbursal in another city. (https://www.team-bhp.com/forum/indian-car-loans-insurance/39809-car-loan-disbursal-another-city.html)

superamerica 18th May 2008 12:36

Car loan disbursal in another city.
 
I have a case where i would like to gift a car to my dad residing in bangalore. I work in chennai. In such a scenario i can get a loan only in chennai because that is where i work and have my residence proof (required documentation for car loans).
In the above scenario i have the following questions :-
1. Can i get the loan approved in chennai against the invoice of a car dealer in bangalore and get it disbursed to him in bangalore?
2. Has anyone out there done something like this of late? If so, can you point me to contacts in banks/agents in chennai.

eclectix 1st 18th May 2008 15:09

Am not aware of Car loan.

I've done a similar thing for House loan. So it could be possible for a car loan also.
cheers:

GTO - Touring 19th May 2008 15:15

As long as the bank has a branch in both cities, it is not a problem at all.

shankar.balan 19th May 2008 15:21

one hundred percent this is possible
i have done exactly the same thing but in reverse location
i work in bangalore and my dad lives in chennai and we bought him a car which was delivered to him in chennai and whose loan i pay for in bangalore

this is very easily do able via the good banks like ICICI and HDFC - they will actively assist you in this
all the best

Quote:

Originally Posted by superamerica (Post 833789)
I have a case where i would like to gift a car to my dad residing in bangalore. I work in chennai. In such a scenario i can get a loan only in chennai because that is where i work and have my residence proof (required documentation for car loans).
In the above scenario i have the following questions :-
1. Can i get the loan approved in chennai against the invoice of a car dealer in bangalore and get it disbursed to him in bangalore?
2. Has anyone out there done something like this of late? If so, can you point me to contacts in banks/agents in chennai.


superamerica 19th May 2008 15:29

Shankar, on a related note. The car is registered on your name in chennai right? That is my next problem. I dont have a address proof at the city (bangalore) where my dad lives. What do we in such a case?

kingshan 23rd May 2008 14:42

I guess the car can be registered in Bangalore using your dad's residence address, be it a rented house he can show the rental agreement to register it, there is an affidavit which needs to be written where the dealer will take care of it at the time of registration, if you can go to the dealer he can clearly explain it to you.

tsk1979 23rd May 2008 15:27

Similar problem here.
I work in Noida, but my driving license etc., gives address proof as Ludhiana, since I belong there.
Now is it possible for me to take a loan from Noida, and purchase and register car from dealer in Ludhiana?

dkamath 23rd May 2008 15:40

Quote:

Originally Posted by superamerica (Post 834863)
Shankar, on a related note. The car is registered on your name in chennai right? That is my next problem. I dont have a address proof at the city (bangalore) where my dad lives. What do we in such a case?

Like Shankar, suggesting to go with private banks. Nationalized banks seem to have tightened their loan disbursal policies, and am quite certain that you would find it tedious to satisfy their disbursal requirements in a situation like this.

shankar.balan 23rd May 2008 15:44

nope the car is registered in my fathers name
their permanent house address is in chennai
i have applied for the loan and am paying the loan back - if I remember right, they will probably ask for your dad to be the co-applicant for the loan before disbursing it.

Quote:

Originally Posted by superamerica (Post 834863)
Shankar, on a related note. The car is registered on your name in chennai right? That is my next problem. I dont have a address proof at the city (bangalore) where my dad lives. What do we in such a case?


tsk1979 27th June 2008 13:39

Pinging this thread again.
I am going to register the car in Ludhiana, no other way to it since my permanent address is in Ludhiana.
However I may purchase from anywhere.
Till date only ICICI bank DSA has told me that I can choose to buy from anywhere and register anywhere.
In other banks I am not too sure if they will accept the performa inovice from Delhi.
anybody gone through this?

CorsaLove 5th November 2008 18:47

Car delivery in another city!!
 
Same Issue with me Guys. I need help pretty fast.

Me and my wife want to take a loan here in bangalore and gift an Alto to her parents in Bhopal. I have got an Invoice from a bhopal dealer also but astonishingly ICICI and also any other bank states that they cannot disburse the loan here and the delivery there.

We are going to Bhopal in the first week of December and would like to take the delivery then, but till date I'm not able to find a solution for this.

Can you guys help me with this please...!!!!

CorsaLove 6th November 2008 18:43

Can anyone give me some tips about this please...??? I have only a few days left before I have to go to Bhopal and take the delivery.

GTO 7th November 2008 11:20

Quote:

Originally Posted by CorsaLove (Post 1041981)
I have got an Invoice from a bhopal dealer also but astonishingly ICICI and also any other bank states that they cannot disburse the loan here and the delivery there.

How about taking the delivery where you are, but registering the car in Bhopal? For instance, I have frequently taken delivery of cars in Mumbai but with a Nasik registration.

CorsaLove 8th November 2008 03:39

Quote:

Originally Posted by GTO (Post 1044096)
How about taking the delivery where you are, but registering the car in Bhopal? For instance, I have frequently taken delivery of cars in Mumbai but with a Nasik registration.

I have enquired with all the top banks but they are unwilling to give an NOC to register it elsewhere. They say it is a new rule. :confused:

tsk1979 8th November 2008 10:14

I bought the vehicle from Ludhiana, and registered it there, however loan was disbursed from HDFC office.
All banks gave me the option of purchasing from Delhi, and registering at another state


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