Used Car from the Bank Employee

arezwan (arezwan) 2018-10-26 18:42:14 +0500 #1

I am looking for a CAR (New/Used). Today I got a good deal of a CAR but the problem is that CAR on the name of bank where he is working. He told me that I will pay him than he will get me the NOC from the bank and I will get the file.

After paying him, I will get the car, book, copy of car card, stamp paper with his thumb impression.

Please give me your views.

Moderator (Moderator) 2018-10-27 10:45:12 +0500 #2

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mohluvhonda (Mohsin ) 2018-10-27 12:05:20 +0500 #3

Dont buy this.. you will b dependent on him for car transfer..

mohluvhonda (Mohsin ) 2018-10-27 12:08:51 +0500 #4

Excise will not transfer car in ur name even if u have noc.. car will ist b transfered in ist owner name and then to ur name.. its a bit complicated and agents will ask atleast 15 to 20k extra and its risky as well. What if, once u pay,and he wont get u that Noc as bank will issue NOC to him, not to u.

bilalzamalik (Bilal Malik) 2018-10-27 12:34:54 +0500 #5

Bhai there is not much to worry about this I sold a lot of bank cars say the cars market value is 10 lacs first thing is I apply in the bank for termination sheet that tells me what is left of the bank suppose I still have to pay the bank 8 lacs then I go to the bank with the buyer and ask him to deposit the amount in the nonchequing laon account.at this point I hand over the vehicle and original book then I usually sign a sale receipt and tell the buyer to keep the rest of the money and pay me after the file and n.o.c comes deal done last week I sold my revo for 48 lac still had to pay the bank 2930000 we went to bank together he verified from the counter that I can not withdraw money from the loan account and happily paid the amount I needed 14 lacs to book a new (1kd)revo via bank so he gave me that money and will pay the rest after 15 days when I hand over the file and n.o.c
But one thing to note is when ever I enter such a sale I always hand over the file at excise office so that the vehicle gets off my name immediately

Moderator (Moderator) 2018-10-29 10:30:30 +0500 #6

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bilalzamalik (Bilal Malik) 2018-10-29 10:38:53 +0500 #7

If the car is leased from a islamic bank(ijarah) then it is registered in there name (mostly) the only exception I know is albarqa and dib so with the other islamic banks u can apply for the noc in somebody else's name and the vehicle goes straight on their name from the banks if it's a conventional bank then it is registered in the leasees name which can be transferred to the buyer again with a 2000 hire purchase agreement charge in lahore that's what I know

bilalzamalik (Bilal Malik) 2018-10-29 10:41:21 +0500 #8

Even if it has a back to back transfer it is nothing illegal the expenditure varies for car to car

arezwan (arezwan) 2018-10-29 18:14:18 +0500 #9

Thanks for the quick reply. I think my description wasn't correct.

He is employee of that particular bank. I paid the bank through Pay Order a specific amount and now bank will give me NOC through him. Than I will pay him rest amount.

arezwan (arezwan) 2018-10-29 18:15:53 +0500 #10

I will soon share the PICs as well here, CarSure rated it 8.7 in their inspection, lets hope for good in future AMEN.

bilalzamalik (Bilal Malik) 2018-10-29 19:27:15 +0500 #11

Ameen and good

anon35615524 2018-10-30 18:37:59 +0500 #12

@arezwan Bro mind sharing some details regarding the vehicle? Its make, model, model year, color, odo reading, etc.

For Sure, IN SHA ALLAH. Ameen.

Carsure score is not on a scale of 10 (I have done this twice). Its on a scale of 100, so the figure will be 87. 85 / and above is a pretty good score.

Please recheck your score, and if I am wrong regarding scale, kindly correct me.

Thank you.

Moderator (Moderator) 2018-10-31 11:20:15 +0500 #13

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arezwan (arezwan) 2018-10-31 12:56:35 +0500 #14

Carsure score is not on a scale of 10 (I have done this twice). Its on a
scale of 100, so the figure will be 87. 85 / and above is a pretty good
score.

CarSure is a good service but I don't know why am I not fully satisfied by them.

As a engineer I don't like errors in reporting e.g. I already knew before the inspection there is a issue with "Rear Right Power Window" and they didn't told me about it, when I asked them about they told me that yes it isn't working but in the report they mentioned it is working. During drive test they insist me to drive the car?? WHY and they just checked the ABS. What about Clutch Operation, Gear Shifting? In the report they mentioned they are smooth, how they knew it without driving?

Two people in a team of inspection, one of them is denter/painter/both(rare case for me) then who is electrician? who is mechanic?

In the report there is a checkpoint "Front Sub Frame is Accidented" in full version of web browser it is marked as a cross (X) but when I viewed it in the mobile APP it is marked as Accidented. if it is then why he didn't told me at the spot about it? (I knew it isn't Accidented IINW).

From my perspective they must update their SOP

1) Drive test done by the carsure team, not by the buyer or seller (if both parties seller and buyer agree on it).
2) Team? please define team(who is who? and let us know the role of each team member as well during inspection)
3) All team members must be a part of drive (if not all then more than one)

As an engineer before the inspection I already done my research about it but still I believe on experts (THE INSPECTION TEAM)

anon35615524 2018-11-01 09:37:06 +0500 #15

Well... Unfortunately, aap ka experience theek nai raha. I have taken their services twice in Islamabad, and am completely satisfied. May be, some things vary from person to person, or city to city, but overall, SOPs, Quality of service, professionalism must be the same.

I have just checked, here is the link to one of the latest reports: https://www.pakwheels.com/carsure-reports/312860 ( through the link: https://www.pakwheels.com/products/pakwheels-inspection )

The overall score is based on 10 (pehlay aesa nai tha, it was based on 100), whereas other parameters are based in percentages (100 scale).

Now, that's something strange. With my 02 times experience, they did not ask me to drive the car, instead, they drove the car themselves, and I also insisted them to drive themselves. Agar main drive karoon ga, to team ko issues ka kaisay pata chall sakay ga?

Well, I think, it can be a possibility. Jo banda denting daikh sakta hai, wo paint work b daikh sakta hai, and it's not very difficult. Similarly, a mechanic can also look for some electrical things. They are just inspection team, they are not repair guys, jo agar issue aye to masla hall kar k dein. Unka kaam just inspect kar k btana hai. AC chall raha hai, theek hai, Tick ka Nishaan, nai chall raha, cross ka nishan. Ub kyun nai chall raha, iss k liay, I think, relevant persons are there in markets. (Main innki waqalat nai kar raha, just sharing my point of view. Others can totally disagree).

I have a bad habit, main bohat zyada sawaal jawab karta hoon' (mainay dono baar teams ka acha khaasa sir khaya tha, since I believe, jub takk aap puchein gey nai, aap seekhein gey nai!) Agar koi minor issues they, dono baar teams mujhay btaa k gye thein.

If you are not satisfied with the team, you can first directly contact them, if you have their contact nos. Otherwise, still, you can call on Pakwheels Contact No. and show your concern.

And I totally agree with all of your 03 last proposals!

arezwan (arezwan) 2018-12-17 19:29:32 +0500 #16

As per my commitment (sorry for late response "I switch the JOB as well ")