Jump to content

Welcome to Autoworld Forum !

Sign In or Register to gain full access to our forums. By registering with us, you'll be able to discuss, share and private message with other members of our community.

Close
Photo

Ncd Transfer To New Car?


  • Please log in to reply

#51
vr2turbo

Posted 19 July 2013 - 07:58 PM

vr2turbo

    Forum Ninja

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 71,444 posts
  • Gender:Male
QUOTE (cute_boboi @ Jul 19 2013, 03:34 PM) <{POST_SNAPBACK}>
Your agent help you to transfer the NCD over. Got some paper work / computer entries / tel call involved one.
Not magic show, left hand come right hand or blackout-technique smile_tongue.gif
That is the purpose of the agent, to do the run around for you, and get their commission.

I deal direct with my Insurance company that is why I get 10% rebate direct from them.
They contact my former insurance on my behalf.... smile_thumbup.gif

#52
swinee

Posted 12 August 2013 - 10:45 PM

swinee

    Fast & Furious

  • Members
  • PipPipPip
  • 2,042 posts
QUOTE (vr2turbo @ Jul 19 2013, 07:58 PM) <{POST_SNAPBACK}>
I deal direct with my Insurance company that is why I get 10% rebate direct from them.
They contact my former insurance on my behalf.... smile_thumbup.gif

hmm..
i do understand that the NCD is not transferable to the new owner even a proper ownership transfer for the vehicle had been carried out..
wat if let say my car is going to renew the insurance on Jan 2014, but if i m planning to sell it as stated in the scenarios below:
i) sell it at Dec 2013 if in time to save on the renewal of insurance premium, then only go n cancel of the policy..
ii) if could not sell in time so have to renew at Jan 2014, if i was managed to sell off later in Feb/Mac 2014. so in that case could i recoup back almost the full portion premium i paid earlier?
smile_question.gif

#53
vr2turbo

Posted 13 August 2013 - 07:43 AM

vr2turbo

    Forum Ninja

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 71,444 posts
  • Gender:Male
QUOTE (swinee @ Aug 12 2013, 10:45 PM) <{POST_SNAPBACK}>
hmm..
i do understand that the NCD is not transferable to the new owner even a proper ownership transfer for the vehicle had been carried out..
wat if let say my car is going to renew the insurance on Jan 2014, but if i m planning to sell it as stated in the scenarios below:
i) sell it at Dec 2013 if in time to save on the renewal of insurance premium, then only go n cancel of the policy..
ii) if could not sell in time so have to renew at Jan 2014, if i was managed to sell off later in Feb/Mac 2014. so in that case could i recoup back almost the full portion premium i paid earlier?
smile_question.gif

Yup, NCD not transferable from owner to another. Can only transfer from car to car of same owner.
For your scenario, you can claim back some premium of the unused months of insurance cover but if not mistaken insurance company have guideline on the refund which is much lower then prorated months calculated direct.
Check with your insurer.... smile_tongue.gif

#54
cute_boboi

Posted 13 August 2013 - 11:33 AM

cute_boboi

    Heart Like a Wheel

  • Members
  • PipPipPipPipPipPip
  • 23,883 posts
  • Gender:Male
QUOTE (swinee @ Aug 12 2013, 10:45 PM) <{POST_SNAPBACK}>
hmm..
i do understand that the NCD is not transferable to the new owner even a proper ownership transfer for the vehicle had been carried out..
wat if let say my car is going to renew the insurance on Jan 2014, but if i m planning to sell it as stated in the scenarios below:
i) sell it at Dec 2013 if in time to save on the renewal of insurance premium, then only go n cancel of the policy..
ii) if could not sell in time so have to renew at Jan 2014, if i was managed to sell off later in Feb/Mac 2014. so in that case could i recoup back almost the full portion premium i paid earlier?
smile_question.gif


If you sell after Jan 2014, you can go cancel the policy to get back the remaining balance pro-rated. Not full premium refund.
If you don't intend to drive it in public road, then no need renew also can. But if get stolen during that time, no insurance coverage.

"When Columbus started out he didn`t know where he was going. When he got there he didn`t know where he was and when he got back he didn`t know where he had been." - Anonymous

#55
swinee

Posted 13 August 2013 - 10:45 PM

swinee

    Fast & Furious

  • Members
  • PipPipPip
  • 2,042 posts
QUOTE (vr2turbo @ Aug 13 2013, 07:43 AM) <{POST_SNAPBACK}>
Yup, NCD not transferable from owner to another. Can only transfer from car to car of same owner.
For your scenario, you can claim back some premium of the unused months of insurance cover but if not mistaken insurance company have guideline on the refund which is much lower then prorated months calculated direct.
Check with your insurer.... smile_tongue.gif

since the pro rated months is lower means it would be best to sell it off b4 Jan 2014..
the car is not mine, the same goes to the insurer..family members one..gotto sort it out at least get some headlines from siffu here first..haha smile_tongue.gif

#56
swinee

Posted 13 August 2013 - 10:52 PM

swinee

    Fast & Furious

  • Members
  • PipPipPip
  • 2,042 posts
QUOTE (cute_boboi @ Aug 13 2013, 11:33 AM) <{POST_SNAPBACK}>
If you sell after Jan 2014, you can go cancel the policy to get back the remaining balance pro-rated. Not full premium refund.
If you don't intend to drive it in public road, then no need renew also can. But if get stolen during that time, no insurance coverage.

thx for the reply.. smile_thumbup.gif
btw, if i was to sell a car to a 2nd dealer which is still under bank loan, how to ensure that they will clear up the remaining balance with bank instead of sambung bayar? smile_question.gif



#57
vr2turbo

Posted 14 August 2013 - 08:04 AM

vr2turbo

    Forum Ninja

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 71,444 posts
  • Gender:Male
QUOTE (swinee @ Aug 13 2013, 10:52 PM) <{POST_SNAPBACK}>
thx for the reply.. smile_thumbup.gif
btw, if i was to sell a car to a 2nd dealer which is still under bank loan, how to ensure that they will clear up the remaining balance with bank instead of sambung bayar? smile_question.gif

Always worrying selling to used car dealer.... smile_blackeye.gif

#58
cute_boboi

Posted 14 August 2013 - 05:49 PM

cute_boboi

    Heart Like a Wheel

  • Members
  • PipPipPipPipPipPip
  • 23,883 posts
  • Gender:Male
QUOTE (swinee @ Aug 13 2013, 10:52 PM) <{POST_SNAPBACK}>
thx for the reply.. smile_thumbup.gif
btw, if i was to sell a car to a 2nd dealer which is still under bank loan, how to ensure that they will clear up the remaining balance with bank instead of sambung bayar? smile_question.gif


For me, if I am in that situation, I will find ways to clear off the loan myself first. Borrow from parents, bro/sis, b/f, g/f, sugar-daddy, etc. Then get the clearance letter from finance.
When sell to 2nd hand car dealer, dealer will ask you got outstanding loan ? You say don't have, show the clearance letter.
I will ask for banker's cheque or bank draft (not normal personal/company cheque).
Also, JPJ now has a new "transfer form" for car dealers, ensure that is done. Else car dealer will give you their own letter to confirm you sell the car to them on XXX date, time, signature, etc.

Also, always get photocopy document that you need to pass to 2nd hand car dealer (better prepare yourself first, as car dealer normally use those blur photo-copier to ... well ... make things blur)

Remember, once sell, straight go cancel insurance. Otherwise, if accident, then it is still claimable.

"When Columbus started out he didn`t know where he was going. When he got there he didn`t know where he was and when he got back he didn`t know where he had been." - Anonymous

#59
vr2turbo

Posted 15 August 2013 - 08:19 AM

vr2turbo

    Forum Ninja

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 71,444 posts
  • Gender:Male
QUOTE (cute_boboi @ Aug 14 2013, 05:49 PM) <{POST_SNAPBACK}>
For me, if I am in that situation, I will find ways to clear off the loan myself first. Borrow from parents, bro/sis, b/f, g/f, sugar-daddy, etc. Then get the clearance letter from finance.
When sell to 2nd hand car dealer, dealer will ask you got outstanding loan ? You say don't have, show the clearance letter.
I will ask for banker's cheque or bank draft (not normal personal/company cheque).
Also, JPJ now has a new "transfer form" for car dealers, ensure that is done. Else car dealer will give you their own letter to confirm you sell the car to them on XXX date, time, signature, etc.

Also, always get photocopy document that you need to pass to 2nd hand car dealer (better prepare yourself first, as car dealer normally use those blur photo-copier to ... well ... make things blur)

Remember, once sell, straight go cancel insurance. Otherwise, if accident, then it is still claimable.

Wah! bro. cute, seems pretty experience in this line..... smile_thumbup.gif

#60
cute_boboi

Posted 15 August 2013 - 04:34 PM

cute_boboi

    Heart Like a Wheel

  • Members
  • PipPipPipPipPipPip
  • 23,883 posts
  • Gender:Male
QUOTE (vr2turbo @ Aug 15 2013, 08:19 AM) <{POST_SNAPBACK}>
Wah! bro. cute, seems pretty experience in this line..... smile_thumbup.gif


Just to inform potential sellers to beware, caveat venditor smile_tongue.gif

"When Columbus started out he didn`t know where he was going. When he got there he didn`t know where he was and when he got back he didn`t know where he had been." - Anonymous