Changing titleholder when car finance paid up

[deweyzeph]

So I paid off my car loan with Wesbank last month, and I've received all the natis documentation and a paid-up letter so that I can go to the licensing department to change the titleholder of the car into my name. They say you're supposed to do this within 21 days, but does anyone know how strictly this is enforced? The queues at the traffic department are a complete crap show again due to Covid, and it's becoming pretty clear that I'm not going to be able to change the titleholder within 21 days. I'm not even sure what date they start counting the 21 days from either because nowhere do they state that. Any consequences if I just leave it for now?

 

[B-1]

So I paid off my car loan with Wesbank last month, and I've received all the natis documentation and a paid-up letter so that I can go to the licensing department to change the titleholder of the car into my name. They say you're supposed to do this within 21 days, but does anyone know how strictly this is enforced? The queues at the traffic department are a complete crap show again due to Covid, and it's becoming pretty clear that I'm not going to be able to change the titleholder within 21 days. I'm not even sure what date they start counting the 21 days from either because nowhere do they state that. Any consequences if I just leave it for now?

Just pay one of those queue companies to do it. Cost me +-R450 the other day. I was about a week over the 21 days.

 

[deweyzeph]

Just pay one of those queue companies to do it. Cost me +-R450 the other day. I was about a week over the 21 days.

Any idea when the 21 days actually starts? Is it from the date that you paid off the loan, the date of the paid-up letter, or the date that you actually received the documents from the courier? Because in my case these dates are all spread a week apart. E.g. I paid the loan, then a week later I requested the paid up letter and documents (and this date is reflected on the paid up letter), and then it took another week for the documents to be couriered to me.

 

[Anthro]

My car has been paid off more than a year.. still havent transferred it to my name .. whoops

 

[Binary_Bark]

Wesbank did the transfer of to my name after it was paid off.
I phoned them and asked them to do the transfer, simple. Not sure if they would still do it though

 

[BradChin]

Any idea when the 21 days actually starts? Is it from the date that you paid off the loan, the date of the paid-up letter, or the date that you actually received the documents from the courier? Because in my case these dates are all spread a week apart. E.g. I paid the loan, then a week later I requested the paid up letter and documents (and this date is reflected on the paid up letter), and then it took another week for the documents to be couriered to me.

They just say 21 days as 'best practice', this is not an enforcable law. i havent done mine for 5 years, i'll do it when i get round to it

 

[deweyzeph]

Wesbank did the transfer of to my name after it was paid off.
I phoned them and asked them to do the transfer, simple. Not sure if they would still do it though

I don't know why they don't just offer this as a service automatically when you've paid off your loan. It's such a pain in the arse. It should be quick and easy to do because your details are already in the system as the registered owner of the vehicle, they just have to change the registered titleholder to the exact same details.

 

[Binary_Bark]

I don't know why they don't just offer this as a service automatically when you've paid off your loan. It's such a pain in the arse. It should be quick and easy to do because your details are already in the system as the registered owner of the vehicle, they just have to change the registered titleholder to the exact same details.

Would agree. Contact them and see if they would do it for you.
They did the transfer and after send the logbook and papers. But like said, was done some time ago.

 

[deweyzeph]

Would agree. Contact them and see if they would do it for you.
They did the transfer and after send the logbook and papers. But like said, was done some time ago.

It's too late now, I've already got the original registration document in my possession. I would assume they can't do anything without that.

 

[Binary_Bark]

It's too late now, I've already got the original registration document in my possession. I would assume they can't do anything without that.

Yeah, you gotta do it yourself now.
Now that you have all the documents, it's not their problem anymore, it's a you problem now.

 

[Tman*]

They just say 21 days as 'best practice', this is not an enforcable law. i havent done mine for 5 years, i'll do it when i get round to it

This ^

There are no penalties for not doing the transfer. All your disk renewals, fines etc will work as per normal.

There are however 2 factors to be aware of:

1. You will need to do an RWC upon transfer. Depending on the age an condition of the car it might be better to get that sorted earlier than later
2. Selling the car will be faster and easier if you already have the RC1 cert in your name, instead of the finance house.

Edit: I've done this quite a few times in the last few years. The easiest method is to get your finance house to courier (normally free) the RC1 to a company such as Weq4you and then they take care of the admin for a small fee. Ive been using Weq4you for 5 years plus

 

[deweyzeph]

This ^

There are no penalties for not doing the transfer. All your disk renewals, fines etc will work as per normal.

There are however 2 factors to be aware of:

1. You will need to do an RWC upon transfer. Depending on the age an condition of the car it might be better to get that sorted earlier than later
2. Selling the car will be faster and easier if you already have the RC1 cert in your name, instead of the finance house.

I've already checked, there's no requirement to do a RWC for a change of titleholder, it's only required for a change of ownership.

 

[B-1]

Any idea when the 21 days actually starts? Is it from the date that you paid off the loan, the date of the paid-up letter, or the date that you actually received the documents from the courier? Because in my case these dates are all spread a week apart. E.g. I paid the loan, then a week later I requested the paid up letter and documents (and this date is reflected on the paid up letter), and then it took another week for the documents to be couriered to me.

As far as I know its the date on the NCO form that was completed by the bank representative.

 

[deweyzeph]

As far as I know its the date on the NCO form that was completed by the bank representative.

That's good news, because they signed the NCO form but never put a date in the date field.

 

[B-1]

My car has been paid off more than a year.. still havent transferred it to my name .. whoops

Its only from when you request the papers though. The bank will be happy if you dont do it as they keep charging admin fees.

 

[ShaunSA]

No consequences if you take a bit longer. But do get it done in a reasonable time. People forget and then sell the vehicle years later and then the paperwork is lost and and and...

No need for a roadworthy so not sure what @Tman* is about

 

[Anthro]

Its only from when you request the papers though. The bank will be happy if you dont do it as they keep charging admin fees.

They sent me the papers already .. oh shoot... I guess I have a issue now

 

[B-1]

They sent me the papers already .. oh shoot... I guess I have a issue now

Just a lot more effort/money involved you can still change the title holder.

 

["D"]

I've already checked, there's no requirement to do a RWC for a change of titleholder, it's only required for a change of ownership.

Unfortunately, both of those happen when an NCO is submitted for processing.

So it would be less hassle for you to simply delay the transaction until the time comes when you want to sell your car.

Otherwise you'll have to pay for a roadworthy test in addition to the other transaction hassles you mentioned in your first post.

(And without a completed/successful roadworthy test, you won't be able to obtain any licence disk renewals!)

 

[deweyzeph]

Unfortunately, both of those happen when an NCO is submitted for processing.

So it would be less hassle for you to simply delay the transaction until the time comes when you want to sell your car.

Otherwise you'll have to pay for a roadworthy test in addition to the other transaction hassles you mentioned in your first post.

(And without a completed/successful roadworthy test, you won't be able to obtain any licence disk renewals!)

A RWC is definitely not required for a change of titleholder. Wesbank themselves have confirmed this, and everyone I've spoken to who's changed the titleholder after paying off their finance has confirmed that they were not required to obtain a RWC for a simple change of titleholder.