Check If a Vehicle Is Under Finance – If you buy your car or bike on Loan and want to check the loan amount is cleared or not then this post will very helpful for you.
In this post, we have provided some easy tips to check your car or bike’s loan is cleared or under finance. With the below methods, you can easily check your Vehicle Loan status Online as well as Offline.
How To Check If a Vehicle Is Under Finance
Every vehicle has an RC (Registration Certificate). The RC book contains all kinds of information about the car. RC book is issued by the Government’s Transport Department.
From the vehicle’s Registration Certificate you can check if your car or bike is under finance or cleared. In the RC Book, there has a column named “Hypothecation”.
If your car or bike is under finance then in the Hypothecation column you will see the Financer name or the bank name. If your loan amount is cleared then you will see “N/A” in Hypothecation.
Also, you can visit your nearest RTO (Regional Transport Office) if you faced any issues.
Also, Read – Tutorials Page
Check Online If a Car Or Bike Is In Under Finance Or Cleared in India
In India, you can easily check your Vehicle loan status From the RC Book or by visiting RTO Office. If you want to check it online there are two methods you can try. One is by sending an SMS another one is using the mParivahan app. Also, you can try the mParivahan website.
Method 1 (SMS) – Send an SMS from your mobile by Typing VAHAN MH01E8857 to 7738299899. After few minutes you will receive an SMS with your Vehicle details.
Method 2 (mParivahan app) – mParivahan is a mobile application provided by the Indian Government to get digital RC Book online. The app is available on the play store.
Follow The Below Steps To Get Your Digital RC Online and check your current Vehicle Finance status.
Step 1 – Download the mParivahan app from the play store.
Step 2 – Signup or Login Using Your Mobile No.
Step 3 – After log in you will see an RC search option just like the below image.
Step 4 – Enter the Vehicle Registration number and click on the search icon. Now you will see some basic details about your Vehicle. But to get complete details you have to click the “ADD TO DASHBOARD” option. Enter the Chassis NO and Engine No to verify ownership. See the below image for reference.
Step 5 – After verifying your details you are able to see the complete Vehicle details along with the finance details.
If the financer tab is marked “N/A”. Then your Vehicle is not in under finance.
If The financer tab is marked “Any Bank name or Finance company name” then your Vehicle is under finance. Please see the reference image.
Method 3 – By visiting the mParivahan website – parivahan.gov.in. Click here to visit the website directly.
Also, Read – Check If a Mobile Number is Busy Without Calling.
Why Showing The Financer Name Even After Cleared Loan Amount?
If you have recently cleared your loan amount and still in your RC book shows your bike under finance then you have to take NOC (No Objection Certificate) from the financer company and visit the RTO office for update.