Is this the normal practice?

[Fivegear]

Hi,

Went down to make the downpayment for my new ride today. I will probably get my car next week. The SE told me he need to get hold of my IC for a week for purpose of the full settlement of the existing loan settlement. In addition, it is also required for the De-registration of the existing car.

 

Actually I am not too comfortable with letting my IC to someone else. But is this a common practice?

[RadX]

yup...they need to dereg your car....and do some stuff at LTA

 

Did you take a letter form them on holding your IC?

[Fivegear]

Err...no. They are from a reputed company though. It's a Honda.

[RadX]

try asking fm them....although as you mentioned, they are a reputable Co....not too much to worry la

[Simpleman]

New registration process do not require buyer to surrender IC to dealer.

To de-reg, I guess the old practice prevails.

1 week too long, 3 days should be sufficient if coordination among

various parties are in sync.

[Ccssgm]

Normal Practise......Is for Full Settlement .... No Need IC.....If for De-Reg ..

 

They need your IC to apply the PIN No.....(I also dun Know wat Pin No)...

[Aspri]

I left my IC at Kah Motor for a week. Should be ok but then if you suay and meet a black sheep...

 

Anyhow, no choice, just get it back at the earliest opportunity loh.

[Apollo]

normal lah... just tat they did not take ur IC and do it, it's their used car dealer who hang around there.

[Turbonetics]

Hi,

Went down to make the downpayment for my new ride today. I will probably get my car next week. The SE told me he need to get hold of my IC for a week for purpose of the full settlement of the existing loan settlement. In addition, it is also required for the De-registration of the existing car.

 

Actually I am not too comfortable with letting my IC to someone else. But is this a common practice?

 

nobody is suppose to hold on to your NRIC.

i don't think this is the right way.

if they really need it,they can just photocopy your NRIC.

Edited January 20, 2007 by Turbonetics

[Julian]

i do that also

[Maxus-MIFA9]

My new ride only require 3 photocopies of my NRIC. One for my new car reg, one for de-reg. and one for car loan.

 

[Curahee]

They photo my IC when i purchase my civic at kah motor.

Edited January 20, 2007 by Curahee

[Nero159]

Hi,

Went down to make the downpayment for my new ride today. I will probably get my car next week. The SE told me he need to get hold of my IC for a week for purpose of the full settlement of the existing loan settlement. In addition, it is also required for the De-registration of the existing car.

 

Actually I am not too comfortable with letting my IC to someone else. But is this a common practice?

 

Should be okay as long as it is a reputable dealership. When I traded in my car recently, the SE held my IC for almost a month as so much paperwork needed to be done to export my old car and transfer the old registration number to the new car, etc... and also, it was over the Christmas and New Year holidays. Whenever I needed my IC during that time, I call the SE to collect the IC and return when I'm done with it. Of course, I know this SE for many years liao. I can understand your concern but as long as the dealership is reputable, it should be okay. May be you can ask them to issue you a letter stating that they have your IC for ..... purpose?

Edited January 20, 2007 by Nero159