Query on Hypothecation Removal & Car Exchange!!

[Ankx]

Hi Friends

I may have some complication in Car Exchange. Please read my situation and try and help me

• I had bought car from Thane (where I was residing on Rent in a flat) MH04 registration, so obviously I had submitted rental agreement and all those papers to Thane RTO

• My car loan is from ICICI – no problems there

• My car RC book was old (paper make – not card make as it is done now)

• My car loan finished last year and I got all the required docs from ICICI bank in Pune - no problems there

• Now I have shifted completely to Pune (MH14) from the last 6 years and when I enquired with RTO agents in Thane – They said that you would need to file Hypothecation removal from Thane – Seemingly no problems there

• But the problem is that – since my RC book is paper type, when I file hypothecation removal in Thane RTO – The agents said that RTO will firstly cancel your hypothecation and then convert your paper RC book to Card RC book and send it on the address on your RC book (which is the rental flat in Thane)

• I have no contacts there with the current occupants & postmen as well, so if it goes to this address – nobody will collect it and it will be sent back to Thane RTO – which is still OK

• But if it comes back to Thane RTO – as per the process the owner of the car has to collect it from Thane RTO by showing address proof

• I was even offering the best RTO agents in Thane a very a good HEFTY fees to get the RC book (card type) converted.. but nobody seems to be completely sure that they can achieve that

• They said if it does not happen (depends on mood of RTO saheb log / sirs) – Then it is your risk and your RC card!!

My next questions to experts is

1) Has anybody faced any such situations in cross RTO Hypothecation removal in Maharashtra?

2) Is there any workaround? Does anybody know any better RTO agents / powerful agents in Thane? – Fees is not an issues as of now

3) 1 agent told me that – Sir – If you are anyway planning to exchange your old car at new car dealerships – The EXCHANGE guys / etc @ dealerships do everything –Is this true?? and if it is - Will new car dealerships in Pune take care of this Cross RTO exchange?

4) Also will new car dealerships / Exchange Guys in Pune able to take care (obviously with FEES) of this process for my Old car when I want to purchase a new car from them? Because remember my car is Thane RTO registered

 

[Releesh]

Re: IMP Query on Hypothecation Removal & Car Exchange!!

check the possibility of change of address first. Then try to cancel the Hypothecation. try to contact Pune RTO and give your address proof for the change of address and Hypothecation cancel.

 

[pras]

Re: IMP Query on Hypothecation Removal & Car Exchange!!

Hi Ankx,

As Releesh said first give a change of address and then once the address is changed go for the hypothecation cancelled.

 

[JohnyBoy]

Re: IMP Query on Hypothecation Removal & Car Exchange!!

Ankx,
I had same issue - hypothecation cancellation and address change at the same time. The RC book after hypothecation cancellation went to my old address and returned back to the RTO. I went to the RTO and collected it. It was not easy, had to go through multiple agents. Then I figured out the process, which I should have followed.

1. As others suggested, change your address first. You have to fill form 33 - "Intimation of change of address to be recorded in the Certificate of Registration" and submit in Pune RTO. Then you can remove the hypothecation. You can also ask the Pune RTO whether you can do both at the same time there. It should be possible.

2. If you are going to sell the car soon, I think the dealer can take care of it. You give them the current RC with Thane address and hypothecation cancellation letters from ICICI. May be you can sell the car to a Thane dealer, who may be ready to do it.

 

[anshuman8]

Re: IMP Query on Hypothecation Removal & Car Exchange!!

@Ankx

What the Agents/Thane RTO has told is the true process. Only you have to apply some agent/resources when the card goes back un-delivered. Else tell your old landlord to collect on your behalf.

I think if you are selling the car, just give it as it is to the dealer. They will do everything needful.

 

[alexddas]

Re: IMP Query on Hypothecation Removal & Car Exchange!!

Ankx,If you had decided to sell/exchange the car then do as the used car dealer says as they are handling these type of cases daily.
ie,give your car along with the RC book and the documents to cancel the hypothecation to the dealer, they will find a buyer for your car and they will change the Car RC to the buyer and the cancellation of hypothecation in one step,
the new RC will be delivered to the new RC owner at his address with in one month.
Make a proper agreement with the used car dealer pointing out that you had sold the car with the documents to the dealer on such and such date.