We request the settlement letter
The bank that holds the lease issues a letter stating exactly what is outstanding on the car, valid to a set date. Nothing moves before this is in hand.
Bank lease transfer, explained properly
Most of the used cars in Pakistan worth buying were bought on a bank lease. That is not a problem — an unsettled file is. Here is exactly how we clear one.
The four steps
From lease file to your name
The same four steps run on every car we sell. Nothing is skipped because a buyer is in a hurry, because skipping one is how people end up with a car they cannot sell on.
The outstanding position is cleared
The settlement is paid in full and receipted. This is the step most private sellers get wrong, and the one that causes problems two years later.
The bank issues the NOC
A no-objection certificate plus the original file. We collect it from the branch rather than waiting on a courier.
The excise transfer is completed
The car is transferred into your name at the excise office. You leave with a car registered to you and a file with nothing pending on it.
What you need
Bring four things, that is it
There is no long application on our side. The bank paperwork is our problem; your part of it takes about twenty minutes of signing plus one trip to the excise office, which we attend with you.
Ask about a specific car- CNIC of the buyer
Original plus one copy, for the excise transfer. - Proof of address
A utility bill in your name is normally enough. - Payment method
Cash, pay order or bank transfer — all fine, all receipted. - Time for one visit
You need to attend the excise office once. We come with you.
Buying elsewhere
Three things to check on any leased car
Even if you do not buy from us, do not buy a leased car without these three. They are the difference between a clean file and a two-year argument.
Never pay a settlement to a seller directly
It goes to the bank, against a letter, with a receipt. Any seller who wants the settlement in cash to their own account is a seller to walk away from.
Read the NOC before you pay the balance
The certificate should name the car, the chassis number and state that the bank has no further claim. If any of those is missing, it is not finished.
Check the file matches the car
Chassis and engine numbers on the file must match the plates on the car. We check this on every car before listing it, and you are welcome to check it again.
Questions
Frequently Asked Questions
Want a car checked before you commit?
Send us the registration number and the bank on WhatsApp. We will tell you what the file should look like, whether or not the car is ours.