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hi all, i got an nice deal from my dealer to buy a repossessed car frm a bank,as ther s no original paper for tat car he made me sure tat he can get NOC frm tat bank and can apply for duplcate paper frm the RTO.Wil ther be any problms in transfering the ownership to me after buying it.How shd i make sure frm dealer before buying it so tat ther is no pblm in trasfering the ownership.please help me in tis.

By Gopal on Apr 13, 2010

Answers

  • Expert Hi,,
    It wont be advisable to go for any car without proper documentations. It will be better togo for a genuine car with valid documents for hasle free ownership.
    Answer by Shiva Shankar on Apr 13, 2010

  • Expert as per govt/ rto /insurance companies view there is no diffrence for orig,rc and duplicate rc ..
    but as per market valu it will be less near 15%..to 20% .
    u may buy the vehicle if dealer have a ready rc and change to ur name .once changed name in ur favour than no problem .
    dont belive if dealer ask time to take time for getting rc like 1 month .
    and dont take responsiblity to apply ur self . all work done by seller . insurance must be comprasive ins. not a third party . check vehicle very well. if papers not ready u may give some advance and take in wrriten with time period etc or may refund the advance .thanks
    Answer by GAUTAM JAIN CHENNAI on Apr 14, 2010

  • Dear Friend,
    Buying a car from the bank is not a problem unless and untill you are fully aware of the condition of the car. There are so many factors to be considered while buying a repossessed vehicle. Major issue is that you cannot drive the car, you should take an advisor who can assist you wether it has met with any accidents in the past. Just for your information you can check directly in the RTO wether the earlier owner has given any intimation for stop Transfer. Also you can check the inventory from the yard person what were the things available in the car when it entered the Godown. Sometime the yard people change the music system, exchange the tyres, Battery, etc. to earn few bucks as there is nobody to claim for the same. Anybody can contact me on 9820105656 as i know few people who can join you and give you perfect estimate & then you can go ahead with the bidding.
    Answer by Nikhil Shah on Apr 15, 2010

  • Hi,

    Untill you see the complete set of RC documents for the car, do not even touch it. If the dealer / agent / bank is saying that they'd make the papers for u once u buy it, ask them to first make and produce the valid documents. Only then should u think of buying the car. Also such cars do not generally have a proper service history.
    So think twice before u decide on such a car. Trying to save a few bucks during purchase might prove costlier in the long run.

    Happy driving.
    Answer by Xerxes Printer on Apr 15, 2010

  • Expert I AGREE 99 PERCANT WITH NIKHIL SHAW EXEPT ONE ADVISOR WILL HELP U TO ASSIST . IN BANK YARD U R NOT ALLOWED TO START OPEN THE BONET THAN GUIDER CAN GUSSES THE BIKE BUT IT WILL NO GURRANTY LIKE DRIVING ..
    AND U CANT GET DOCUMENT IMMEDIATE FOR REPOSSED VEHICLE T.. BANK PERSON WILL TREAT AFTER GETTING PAYMENT THAT CANT WRRITE IN THIS PAGE , SIMLY THEY COUNTS US LIKE SCRAPWALA . I HAVE 4 YEARS WELL EXPERINCE IN BANK REPOSED VEHICLE BUSNESS .. SIMLY IT IS GEMBLING BUSSENSS U MAY WIN 1 TIME BUT LOST RECORDS 9 TIMES
    Answer by Gautam Jain Chennai on Apr 20, 2010

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