kamer said:
Thank you all for your valuable inputs. Went to book my bike yesterday. Damn irritating experience. I dont have a permanent address in Mumbai. For registration, i gave them a copy of my passport, PAN Card, Voter ID... all registered to my native address and a copy of the rental agreement. They are like- Do you have a electricity bill in your name at the address you are staying.... I said no.. Any bank a/c by that address... no.... Sorry, you cant buy a bike :no: I am like:huh: People who do not have a permanent address in Mumbai cant buy a vehicle!!!!!
They said rules are rules. I now need to open a bank a/c with my current address, get a letter from my firm's HR stating i work there and my address is bla bla....Give them a copy of electricity bill with the name of owner as per my rental agreement.. And passport copy attested (notary). Then they will get my vehicle registered via WAP (Without Address Proof)....
... Insane I say... Taking almost all docs I have and registering my vehicle via WAP!!! Guess I will have to wait for my vehicle. Will take time to open bank a/c and all...
What an experience... Imagine.... Even passport is not a valid document if its not issued in Mumbai!!! A document issued by GOI after so much verification!!!!!
I can understand what you have gone through. I went through the same -- its all rubbish only Yamaha does it. I live on rent in Ahmedabad but luckily one of my bank savings account, my passport and pan card are issued to my Ahmedabad address. Now Yamaha created a massive scene by saying I couldn't have the bike and it won't clear RTO passing. Also the bike I chose to buy, Yamaha SZ wasn't worth all the trouble so I got myself a Pulsar 135 LS and all Bajaj wanted were the usual set of documents, I paid the money upfront and took delivery of the bike instantly and tbh my Pulsar is way better than the Yamaha in terms of performance, mileage and build quality. The Yamaha finance people were asking for 9 blank cheques! Bajaj asked for 2 blank cheques (for the same loan period). Also the loan approval for my Pulsar was instantaneous (took 30 mins in all) as I bought an AC from Croma with Bajaj finance and cleared the loan payment. Yamaha (Busan Auto Finance) also levies a lot more interest than Bajaj does. Similarly you need to pay 4.5% of the total cost of the bike as well as a loan closure fee+processing fee in addition to the outstanding amount should you choose to pay off the outstanding installments after the loan lock in period which is 6 months for Yamaha. Bajaj requires you to wait for 3 months of the lock in period for the loan and then you can pay off the entire amount in a single payment without any processing fee or loan closure fee or any additional interest on the outstanding amount. Yamaha's finance schemes are sheer madness!
BTW a recent credit card bill to your address in Mumbai should do as well. Try that.
Yamaha's requirements while booking the bike irrespective of you taking it on loan or paying upfront(applicable if you live on rent in a city which isn't your native city):-
[1] 3 passport sized photographs
[2] Notarized rent agreement with the photograph of the tenant and the owner attested and signed by both parties
[3] Passport/Pancard/Voter ID/Ration card
[4] Latest Credit card bill
[5] Passbook of your account in a bank of the city your are currently residing in
[6] Latest Electricity Bill issued with the name of your flat owner
[7] Affidavit signed from local police station as proof confirming your residence in the above mentioned documents (upto Rs.500 to be paid as bribe)
[8] 6 months bank statement of the account of the local bank
[9] Proof of workplace and a letter from the HR
[10] Latest salary slip
[11] 9 cheques (8 blank one cancelled) from your savings account with the local bank
[12] Proof of your permanent address with any of these documents ( Passport/Pancard/Voter ID/Ration card ) and electricity bills with your name on it
[13] Postpaid mobile phone bill (latest)
[14] Municipality water bill or gram panchyat bill or a receipt from the housing society for maintenance of the flat,etc or the possession letter of the flat the builder issued to the flat owner
Bajaj's requirements while booking the bike irrespective of you taking it on loan or paying upfront(applicable if you live on rent in a city which isn't your native city):-
[1] 2 passport sized photographs
[2] Notarized rent agreement
[3] Passport/Pancard/Voter ID/Ration card
[4] Latest Credit card bill
[5] Passbook of your account in a bank of the city your are currently residing in (used as address proof)
[6] Latest Electricity Bill
[7] 3-6 months bank statement of the account of the local bank
[8] Proof of workplace and a letter from the HR
[9] Latest salary slip
[10] 1 cancelled cheque and 2 blank cheques