I agree with this, i have sold my two vehicles and later those vehicles were successfully transferred on purchaser's name .. the main concern is to provide a NOC to the Excise showing correct details. No need for the seller to transfer the vehicle on his name first... just NOC having appropriate content will address this... for your ease, i am copying the text of proposed NOC letter of the bank which Excise and Taxation Department accepts.
----------------------- NOC DRAFT -----------------------------------
To,
Motor Registration Authority,
Excise & Taxation Department,
Lahore, Punjab
Subject:: Transfer of Vehicle
We, the ABC BANK has sold one vehicle under the following particulars:-
Make:: ___________________
Mode:: ___________________
Engine No:: ________________________
Chassis No:: _______________________
CC:: ___________________________
Color:: _____________________________
Registration No:: _______________________
Above vehicle was leased to Mr. XYZ S/o Mr. XYZ CNIC No. NNNNN-NNNNNNN-N. This Lease facility has now been fully adjusted by Mr. XYZ S/o Mr. XYZ CNIC No. NNNNN-NNNNNNN-N and ABC BANK has no liabilities against the said vehicle.
In this regards ABC BANK has no objection regarding the transfer of above mention vehicle to Mr. PQR S/o Mr. PQR having CNIC No. NNNNN-NNNNNNN-N
For and on behalf of
ABC BANK
Signature & Stamp