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Thread: Transfer of Vehicle after full payoff

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    Default Transfer of Vehicle after full payoff

    Hi


    A friend had leased car from a bank and now paid off. He has an NOC from the bank which states that he can transfer the vehicle to his name, and the rest of documentation. Now when he is selling the car, how can he transfer the car to the name of the purchaser without registering the car to his name first. Someone told him that he needs double registeration, first he should register it to his name, transfer it and then the purchase can register it to his name. Anyone has any information on it, please guide.





    Thanks

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    if he has paid off, the car must be on his name...thats what the NOC says that you have paid off and the car is now urs...in order to sell it..you need a tranfer letter ...

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    a_pakwheeler83

    you understand rite
    http://www.pakwheels.com/forums/members-member-rides/266031-accord7362s-merc-thanks-god-loved-ones-who-remember-me-prayers ,199119-thanks-god-2011-ford-edge-limited-awd-3-5-v6

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    noc is basically the outhorising


    say gudbye to payments :p

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    the NOC from the bank says that the guy who had leased the car can transfer the car to his name. The car is still bank's property on documents.

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    Default

    what the bank says is that the guy who had leased the car can write excise and taxation another NOC to refer the purchaser, and to transfer the car to the purchasers name. So its not clear whether double registration is required or this NOC will work for the purchaser. the main idea is to avoid double registration

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    u r moving in rite direction just confirm with T&E office and if possible avoide DReg.
    http://www.pakwheels.com/forums/members-member-rides/266031-accord7362s-merc-thanks-god-loved-ones-who-remember-me-prayers ,199119-thanks-god-2011-ford-edge-limited-awd-3-5-v6

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    PANICSLAYER can help u the best in this case sir...he had been in car leasing department of mcb bank...he will surely help you....and he would be cming online in smtime as he comes online at this time
    The Flag is the Embodiment, not of Sentiment, but of History.

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    Ur friend has to transfer the car in his name 1st and then to any other name. Simple
    Suggestions required

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    ok, someone said the guys who sit outside civic center can do this.. ? is that right? who is the proper person to contact?

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    see i told u panicslayer will help u and he came online ...
    The Flag is the Embodiment, not of Sentiment, but of History.

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    Brother,

    Bank issue one NOC & Open transfer deed on the bank name.
    this shows that the person possesing these documents can transfer this car to his name but transfer fee would be double.
    You should simply transfer the car to your friend name why you pay the double fee and your friend also pay the fee.

    i have transferd from lahore one of the car with same case.

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    Default

    @ Naeem, Thanks for th reoply.

    He has only one NOC which is written to Excise and Taxation that the guy who leased the car can own the registeration and all. thre is no open transfer letter. is there any such document along with NOC?

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    What panicslayer has said is 100% right.

    If someone says that he can get it done, bypassing that procedure, that would be 'illegal' and it will be detected at a later stage (when ever that car will be transferred in future).

    All the leasing bank give a NOC at the end of the leasing period, which says the bank has no objection if the car is transferred in XYZ's name. That XYZ is the person lessee (who signed the contract and got the car from the company/bank). They (bank/leasing company) will never issue a NOC in somebody's else name.
    "Never drive faster than your Guardian Angel can fly."

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    EXACT ANSWER JUST DID SO IN LAST TWO DAYS.


    I have a bank leased car, paid full kept the NOC till sale and sold the car, then car registred in the name of new owner. How? Paid two fees ie. 1200+1200 (bank to lesse and lesse to new buyer) attached bank Transfer letter + own transfer letter + form F + fee challan + an affidavit. Docs prepared by an agent for Rs. 300 and I got the registration book after transfer today after just three days. Effectivly the buyer becomes the first owner on paper and my car sold well because of this reason. Need more help let me know, and its Islamabad registered case.
    Lucky guy.... Allah is the gratest.....Seat belt saves life...

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    Apart from banking leasing agreements, in normal car name transfer prcedure, does Transfer deed in enough or affidavit is also required?
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    Are you in Karachi? or this all was done in ISB? And i think registration fees in Karachi is double that of Isb, around 2500.

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    This was done in Islamabad
    Lucky guy.... Allah is the gratest.....Seat belt saves life...

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    Quote Originally Posted by Scorpion1983 View Post
    EXACT ANSWER JUST DID SO IN LAST TWO DAYS.


    I have a bank leased car, paid full kept the NOC till sale and sold the car, then car registred in the name of new owner. How? Paid two fees ie. 1200+1200 (bank to lesse and lesse to new buyer) attached bank Transfer letter + own transfer letter + form F + fee challan + an affidavit. Docs prepared by an agent for Rs. 300 and I got the registration book after transfer today after just three days. Effectivly the buyer becomes the first owner on paper and my car sold well because of this reason. Need more help let me know, and its Islamabad registered case.



    salam ......!!

    i am in same condition .. searching lots but found one Answer the double transfer ..

    if the buyer of your car is paid two fees i-e 1200+1200 then how the buyer of your car is become the first owner ...???
    please .. clear it for information

    in my knowledge the car first transfer to you then the buyer ... that's means the 3rd owner

    like ....

    on certificate book pages 1-4
    1st owner is company/bank
    2nd owner you (lease the car from bank (paid off))
    3rd owner the buyer of your car


    is am right ..... ?

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    Quote Originally Posted by Atif_Jawaid View Post
    salam ......!!

    i am in same condition .. searching lots but found one Answer the double transfer ..

    if the buyer of your car is paid two fees i-e 1200+1200 then how the buyer of your car is become the first owner ...???
    please .. clear it for information

    in my knowledge the car first transfer to you then the buyer ... that's means the 3rd owner

    like ....

    on certificate book pages 1-4
    1st owner is company/bank
    2nd owner you (lease the car from bank (paid off))
    3rd owner the buyer of your car


    is am right ..... ?
    As per my knowledge when you lease a car the car is registered to the individual or company leasing the car and there is a clause in the Registration book / file that the car is under lease agreement with XYZ Bank.
    When you pay off the finance amount bank give you clearance that all the dues are recovered and bank has no right to claim whatsoever now.
    And when you sell it can be transferred to buyer's name with that NOC directly .
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