How to Check Hypothecation Status of Vehicle Online
If you have bought a vehicle with a loan, then there is a chance that the vehicle has been hypothecated. Hypothecation means that the ownership of the vehicle is with the bank or the financial institution that has provided the loan until the loan is fully paid off. It is essential to check the hypothecation status of a vehicle before buying or selling it. In this article, we will guide you on how to check the hypothecation status of a vehicle online.
Step-by-Step Guide to Check Hypothecation Status of Vehicle Online
Visit the Ministry of Road Transport and Highways website
The first step is to visit the Ministry of Road Transport and Highways website. The website address is https://parivahan.gov.in/parivahan/. This website provides information on all road transport-related services, including vehicle registration, driving license, and more.
Click on the “Know Your Vehicle Details” tab
Once you are on the website, click on the “Know Your Vehicle Details” tab. You will find this tab under the “Online Services” section on the home page.
Enter the Vehicle Registration Number
On the next page, you will be asked to enter the vehicle registration number in the given field. Make sure that you enter the correct registration number without any mistakes.
Enter the Verification Code
After entering the registration number, you will need to enter the verification code that appears on the screen. This code is case-sensitive, so make sure that you enter it correctly.
Click on “Search Vehicle”
Once you have entered the registration number and verification code, click on the “Search Vehicle” button. The website will display the vehicle details, including the registration date, registration authority, and chassis number.
Check the Hypothecation Status
Scroll down to the bottom of the page, and you will find the “Finance” section. This section will display the hypothecation status of the vehicle. If the vehicle has been hypothecated, the name of the bank or financial institution that has provided the loan will be displayed.
Save the Hypothecation Certificate
If the vehicle has been hypothecated, you will need to obtain the hypothecation certificate from the bank or financial institution. This certificate will show that the loan has been fully paid off, and the ownership of the vehicle has been transferred to you. Make sure that you save this certificate safely for future reference.
Checking the hypothecation status of a vehicle is crucial before buying or selling it. It ensures that the vehicle’s ownership is clear, and there are no outstanding loans on the vehicle. The Ministry of Road Transport and Highways website provides a simple and convenient way to check the hypothecation status of a vehicle online. Make sure that you follow the steps mentioned above to check the hypothecation status of your vehicle.