Buying and transfer of car owned by company

[koopoori]

Hello,

I have finally been able to land a very good condition honda civic 2010 after rigorous searching. However, the car is registered to a private company's name who happen to be the seller's inlaws. He has the authority letter issued by the company.

I want to ask if this is any different from buying a car from an individual i.e. are there any disadvantages to buying a car registered to a company. Also, can anyone please tell me the transfer procedure and the documents required since I have never bought a used car before.

Bonus: Could anyone also please tell me the cost of transferring ownership to my name?

JazakAllah.

[Hassan0001]

They will simply provide you two letters addressed to excise. One is transfer of ownership or noc letter in your name and second a verification of noc. Transfer fee is 2k to 3k in islamabad. No IT tax will apply as vehicle is older than 5 years.

[koopoori]

Jazak Allah brother thank you for the quick reply. Also, what is the procedure for transferring ownership since I never did it before. I am based in Karachi.

[IceCold]

Go the excise office and ask for procedure. Alternately you can always hire an agent to do all of this for you against some extra fees. There are plenty of agents near the office but will have to be careful as many are scams artists as well. Better if they have an office.

[shoaibmunir068]

I am going to purchase a vehicle 2002 model 847cc but its owner is some Company and that Company is dissolved and the current possessor of the vehicle says that " Company Khatam ho Gail hai"
what should I do to transfer that car on my name???

[sardarg]

only way is that current owner 1st transfer the vehicle in his name. After his name & cnic appear as owner over the govt documents, afterwards you may buy and immediately transfer the vehicle under your cnic.

if present owner decline that process you may drop the idea of buying an item for which ownership is non-existent.

@shoaibmunir068

[Hassan1991]

This topic was automatically closed 10 days after the last reply. New replies are no longer allowed.