What's the process (and any tips) after vehicle finance is paid off

[DarkWarrior]

I know you need to get the vehicle ownership in general but what's the process? Any tips or advise ?

 

[sandereo]

Hi -
I recently finalised my car payment and i had to phone my bank's finance department for them to post the logbook(ownership) to my nearest bank.

Then, you need to have the ownership changed from the bank's proxy to your name at the licensing bureau. I paid R150 or so.

Regards, Erwin

 

[Lupus]

The bank sends you the papers via a courier, you go to the licensing department and convert it to your name, costs about R150.

 

[IssiAmd]

Congrats
Most important imo is to resist the temptation of financing another vehicle if yours is still good.

 

[superskully]

Nedbank actually changes the names for you.
Other banks did not, I recall I had to stand in those lines at Licensing, take a days leave.

 

[Paul Kemp]

You request the papers from the bank. They send you the registration along with the change of ownership forms and the bank proxies ID copy.

As already said MFC will do the change of title holder for a nominal fee.
No need to do roadworthy as it’s only a title change.

From a legal perspective Road Traffic Act section 14 says it must be done within 21 days of them sending the papers.

Nothing complicated.

 

[crawler]

Wesbank also offers change of ownership @R300

Needless to say we went that route

Then couriers to your address

 

[supersunbird]

I know you need to get the vehicle ownership in general but what's the process? Any tips or advise ?

Now save your vehicle instalments for your next vehicle.

 

[Willie Trombone]

I know you need to get the vehicle ownership in general but what's the process? Any tips or advise ?

Contact the finance firm and ask for transfer of ownership documents. They will courier them to you or they will submit them for you at a fee.

With MFC you can request them online of you register a Nedbank account.

 

[Lupus]

You request the papers from the bank. They send you the registration along with the change of ownership forms and the bank proxies ID copy.

As already said MFC will do the change of title holder for a nominal fee.
No need to do roadworthy as it’s only a title change.

From a legal perspective Road Traffic Act section 14 says it must be done within 21 days of them sending the papers.

Nothing complicated.

Though I've done it months after the 21 days.

 

[TheMightyQuinn]

Congrats
Most important imo is to resist the temptation of financing another vehicle if yours is still good.

Nope...MOST important is to keep paying your monthly installment ....into a "savings" account or something to that effect.

Great way to save.

 

[deweyzeph]

If your finance company offers you the choice of posting your papers to you or sending them via private courier for a small fee, do NOT make the mistake of taking the cheaper postal route. There is every chance you will never see those papers and then it becomes a major mission to replace them. Don't be cheap, choose the private courier option.

 

[TheChamp]

If your finance company offers you the choice of posting your papers to you or sending them via private courier for a small fee, do NOT make the mistake of taking the cheaper postal route. There is every chance you will never see those papers and then it becomes a major mission to replace them. Don't be cheap, choose the private courier option.

Courier was mahala with Wesbank after I finished paying mine off with Wesbank in 2016,but good point, there is absolutely no reason to be cheap for such important documents.

 

[Sinbad]

Also let your insurer know that the finance company no longer has an interest in the vehicle

 

[deweyzeph]

Courier was mahala with Wesbank after I finished paying mine off with Wesbank in 2016,but good point, there is absolutely no reason to be cheap for such important documents.

Yeah, it's crazy that anyone would offer the post office as an option for sending important documents.

 

[Aghori]

Yeah, it's crazy that anyone would offer the post office as an option for sending important documents.

Unisa sent my Masters degree via post office this year in Feb... I never received it to this day. I just have a letter from Unisa stating that I have done the degree along with a transcript! Fukken pos office.

 

[Dretastic06]

Unisa sent my Masters degree via post office this year in Feb... I never received it to this day. I just have a letter from Unisa stating that I have done the degree along with a transcript! Fukken pos office.

Some guy is balling and getting top government jobs with that master's degree

 

[TheChamp]

Unisa sent my Masters degree via post office this year in Feb... I never received it to this day. I just have a letter from Unisa stating that I have done the degree along with a transcript! Fukken pos office.

Was it not sent by registered post?

 

[Aghori]

Was it not sent by registered post?

God knows... nothing ever arrived and the tracking number is nonexistent.

 

[Paul Kemp]

Though I've done it months after the 21 days.

Ja just noting it because when I got my papers a couple of weeks back the people at MFC made a point of highlighting the 21 days and the settlement letter noted it again.

As a sidenote I doubt(without checking) that any bank would send you your papers via the postal service... yet.