Leased car transfer process in punjab

ee113052 (suzuki cultus) 2022-03-23 23:58:34 +0500 #1

I recently purchased a used changan alsvin which was leased by the first owner. He gave the Noc from bank on my name. Now i want to transfer it to my name but i have heard such transfers are stopped at the moment as the policy is not clear. Has anyone faced the same issue? If anyone can share any authentic info regarding this issue i would be grateful. Thanks

kjohn_18 (kjohn_18) 2022-03-24 08:30:02 +0500 #2

Can u kindly guide how did u get NOC from bank? Did first owner cleared all remaning payment to the bank?

azfarnb 2022-03-24 14:04:52 +0500 #3

I am not sure how the bank did not issue an NOC to lessee and issued it to you? I’m hearing this pehli dafa

ee113052 (suzuki cultus) 2022-03-24 15:36:08 +0500 #4

Yes payment cleared

kaashiif (Kashif Shahzad) 2022-03-24 16:18:17 +0500 #5

Can you please share the bank it was leased from as well as mode of loan like it was Lease or Finance as both have different processes as in case of Finance person is given loan and is owner of vehicle in documents having HPA(Hire Purchase Agreement with Bank and that person's presence is required or thumb scan you can get it transferred) but in case of leasing owner of vehicle is bank so in that case bank will transfer vehicle to that owner first and then it will be transferred to you.

kjohn_18 (kjohn_18) 2022-03-24 18:12:01 +0500 #6

Just curious to know. Did the first owner sold it to u at good price or at loss? Just like to know the resale value of Alsvin