Authority letter of the bank>>>

Vehicle Documentation / Registration / Import / Le

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khtaimoor (khtaimoor) 2011-04-29 09:06:23 +0500 #1

Salm to all friends,
Question is that when you take a car on lease 4m bank,the bank gives you an authority letter to drive the car on yearly basis,what is the requirement of the bank to issue the letter,for instance you took the car 4m a bank in KARACHI and then you took this car to Islamabad,will you b required by the bank to present the car to the bank in Karachi?
bcoz if yes, then its very difficult to do so....
Secondly is it legal to this drive the car in islamabad?I know that its mentioned on the authority letter that the car can be driven within Pakistan,its just to Confirm!!!

EXPERTS,plz. help...

drtanveerali (drtanveerali) 2011-04-29 09:10:41 +0500 #2

now a days it is not possible because of fraud cases appear in front of bank, usually people use to take car from one city sell the car in other city. now dueto trakker u cant take car out of city untill u take written permission from bank shown the exact period of stay in other city or so.

qwertypoiu (qwertypoiu) 2011-04-29 09:59:53 +0500 #3

********.

all it is that car is on your name and on the registration there is a point which says leased through xyz bank.

you can drive the car freely every where. you dont need any permission.

when the lease is over the bank transfers it on your name completely.

khtaimoor (khtaimoor) 2011-04-30 08:20:12 +0500 #4

So will i need to present it before the bank to get the NOC after the completion of the tenure,suppose if i am not in Karachi and even if the registration of the car is also 4m SINDH...

qwertypoiu (qwertypoiu) 2011-04-30 08:32:52 +0500 #5

Yes, If the car is On your name you dont have to do any thing.
If it is not on your name you should have authority letter from the owner.

If tracker is installed you will have to inform them about your trip thats it(and this has nothing to do with bank its tracking companies policy).

Other thing is that If you are trying to buy a car in Karachi which is leased and you are just doing agreement with seller. then that is illegal.

Proper way is owner pays off the bank and you pay the owner and get car transfered at your name. this is the legal way.

Second thing is that you can still do that but only if you trust the seller.

other thing is driving a Sindhi registered car is Islamabad( if its a big car like Land cruiser or some thing No problem then) other wise if it a corolla civic you will be subject to more checks on the police pickets.

qwertypoiu (qwertypoiu) 2011-04-30 08:36:53 +0500 #6

If you are in Karachi and you leased your car from there and now you are moving to Islamabad you should contact the bank and update your address etc. and then it will be easy for you to. and for getting your car at your name you will contact that banks branch in Islamabad. its sindh registered so you will have to get the tokens and transfered at your name Karachi(or that city of sindh)

istafa111 (istafa111) 2011-04-30 08:53:40 +0500 #7

If you have leased your car from a Bank in Karachi, and you have moved to another city, then you'll simple go to the local branch of that bank and will ask them to do the procedure as I have paid all my installments. They will ask you some details, such as vehicle registration number, your NIC number and will most probably ask you to write an application to the bank. They will send a request to the branch in Karachi and will get all the details and will take over the case from that point onwards. It'll only take extra time and there shouldn't be any other issue.

I once got my car leased from Rawalpindi and got it cleared from Islamabad as I was a bit lazy to go all the way to Pindi. So I directly went to the Islamabad branch and asked them to do so. They called Pindi branch and confirmed the status of lease and finally asked me for an application.