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    Car Finance Notes

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    arqumc
    Ready delivery allows a customer to receive a vehicle without specifying it in advance due to limited availability. Advance booking is required for new vehicles since there is high demand. The customer will receive a delivery order in the dealer's name and sign a vehicle acceptance form. They will also receive a letter of authority to drive the vehicle. Advance booking requires a provisional booking order form and payment of advance taxes and registration fees. The key differences are that ready delivery allows for an open invoice used vehicle while advance booking cannot be an invoiced vehicle and requires documents like a provisional sale certificate from the dealer.

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    Car Finance Notes

    Uploaded by

    arqumc
    17 views1 page
    Ready delivery allows a customer to receive a vehicle without specifying it in advance due to limited availability. Advance booking is required for new vehicles since there is high demand. The customer will receive a delivery order in the dealer's name and sign a vehicle acceptance form. They will also receive a letter of authority to drive the vehicle. Advance booking requires a provisional booking order form and payment of advance taxes and registration fees. The key differences are that ready delivery allows for an open invoice used vehicle while advance booking cannot be an invoiced vehicle and requires documents like a provisional sale certificate from the dealer.

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    CAR FINANCE

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    car finance notes

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    Ready delivery allows a customer to receive a vehicle without specifying it in advance due to limited availability. Advance booking is required for new vehicles since there is high demand. The customer will receive a delivery order in the dealer's name and sign a vehicle acceptance form. They will also receive a letter of authority to drive the vehicle. Advance booking requires a provisional booking order form and payment of advance taxes and registration fees. The key differences are that ready delivery allows for an open invoice used vehicle while advance booking cannot be an invoiced vehicle and requires documents like a provisional sale certificate from the dealer.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    17 views1 page

    Car Finance Notes

    Uploaded by

    arqumc
    Ready delivery allows a customer to receive a vehicle without specifying it in advance due to limited availability. Advance booking is required for new vehicles since there is high demand. The customer will receive a delivery order in the dealer's name and sign a vehicle acceptance form. They will also receive a letter of authority to drive the vehicle. Advance booking requires a provisional booking order form and payment of advance taxes and registration fees. The key differences are that ready delivery allows for an open invoice used vehicle while advance booking cannot be an invoiced vehicle and requires documents like a provisional sale certificate from the dealer.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Ready Delivery (New or Used Car) Advance Booking (New Car only)

    It is better for the customer that the Vehicle is not Usually the vehicle is identified. Vehicle can be
    identified / specified at this stage due to token available for delivery as well. But since the
    issue demand orders are too many, advance booking is
    required.
    Hence there is a conditional offer letter here first
    and then the firm final approval is provided.
    Valuator will provide price and customer will pay
    for the valuation in case of DM. If no vendor is
    communicated by EAMVU at this stage, then it shall be
    assumed that the vehicle registration / hypothecation
    shall be done through the dealership.
    i. Delivery Order will be given to the Purchase Order will be made in the name of the
    customer in the name of the dealer Manufacturer or Vendor or Dealer
    ii. Obtain acknowledgement of both the customer  then Provisional Booking Order Form will be taken
    and dealer on the Vehicle Delivery Acceptance from the Dealer.
    Form; and
    iii. Handover Letter of Authority to Drive to the
    customer.

    Authorized Dealership or Manufacturer or Vendor Manufacturer or Vendor or Dealer


    Transfer fee Advance vehicle Tax (registration fee)
    Reimbursement in case of late delivery or change
    in price
    Can be an open invoiced vehicle. Used for quick Cannot be an invoiced vehicle at all.
    delivery in case of delay in advanced payment
    delivery
    In case of Ijarah: non-filer vehicle lease facility In case of DM, advance motor vehicle tax will be
    advance tax will be paid by the bank and reimbursed paid by the customer on behalf of bank as well.
    from the customer. In case of Ijarah: Non filer Vehicle lease facility
    advance tax
    In case of DM only: First year takaful contribution will be paid upon
    First year takaful contribution delivery and recovered in rentals.
    Hypothecation charges will be paid upfront in case Hypo charges will be paid upon arrival of vehicle
    of DM to the vendor/dealer by the customer directly.
    (based on which the Dealer shall initiate vehicle
    registration & Bank’s HPA marking process and will
    accordingly arrange for the new car’s HPA marked
    registration challan from the ETO which will be
    provided to the Bank later on).
    NRP Cases will be dealt here only Sales will arrange Dealer’s Provisional Sale Certificate
    (mentioning the Vehicle details, such as Engine No.,
    Chassis No., Color, Invoiced / Open Invoice, payment in
    favor of dealer or manufacturer name, itemized
    registration cost & related services details [if
    applicable], etc.)

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