You are here : Community » Forums » Finance/Loan & Insurance » NCB Certificate issue
Today's Posts | Search Forums | My Messages

NCB Certificate issue

#1 06-Jul, 2010 07:06 PM
Taurus
New Arrival
Joined Date: 16 Jun 2010
Location: Mumbai
Posts: 16
Likes: 0

Hi,

I am enjoying 65% NCB on my old car which I just exchanged for a new i10 (yet to be registered). The dealer assured us a benefit of 65% on Insurance amount if we get him the NCB certificate from our Insurance company.
While the manager of NIC promised us that he will issue NCB in a day, now his staff is playing traunt and asking tons of documents for the purpose. At present we only have the delivery note for handing over my old car to the dealer. My dealer wouldn't proceed for registration till we hand him the NCB (that's he already reduced from my total cost) and NIC wouldn't issue us a NCB cert on this.
Please suggest what should we be doing here on.

Thanks,
Umesh.



0 members liked this post
 
#2 08-Jul, 2010 10:24 AM
Ck Dr
Road-tested
Joined Date: 26 Jan 2009
Location: Rajkot
Posts: 84
Likes: 0

Do one thing take insurance from same company which will you provide 65% NCB because there will required no documents its the best thing to do & it will be from outside it will be cheap also i have done the same thing for my NEW honda city



0 members liked this post
 
#3 08-Jul, 2010 10:58 AM
Banwari Lal Sharma
Moderator
Joined Date: 19 Jan 2006
Location: Mumbai
Posts: 4192
Likes: 28

Nothing to worry. Buy the new car by paying full premium i.e. pay the 65% NCB amount as well. When you get NCB, get it registered on your new car Insurance. You will get your money back. You can transfer the NCB until 3 months.

Probably NCB certificate can be issued only if:

  1. Insurance has expired.
  2. The insurance has been transferred to the buyer's name.
  3. You cancel the current Insurance.

I'm slightly doubtful that you will receive NCB certificate on delivery note!




CarWale Android App is launched. Download by searching for CarWale in Android Market on your phone or using this link: https://market.android.com/details?id=com.carwale
0 members liked this post
 
#4 08-Jul, 2010 11:23 AM
Taurus
New Arrival
Joined Date: 16 Jun 2010
Location: Mumbai
Posts: 16
Likes: 0

Posted by Devendra

Do one thing take insurance from same company which will you provide 65% NCB because there will required no documents its the best thing to do & it will be from outside it will be cheap also i have done the same thing for my NEW honda city



Hi Devendra, thanks for your response. However, I am getting this under the free insurance scheme by the company and hence do not have a choice to opt for Insurance company. Besides I really do wish to move out from NIC.



0 members liked this post