Query Approved.

Surprised and Shocked

Its really surprising to know that they dont fianance bike to ladies. I dont agree with that or may be i dont know, but you can try other banks.

Well it doesnt really matter whether the bike is in your name or your boyfriends because police checks for valid documents and does not bother a lot about names, untill unless its something very serious.

sometimes the traffic police create problems if the bike is not registered in the name of the rider... but that can well be avoided if the rider has an authority letter from the owner specifying the the owner allows him to ride the vehicle....

i had faced such kinds of problems in bengal... when i was riding my father's bike...

IMO, the bank is right. Say Rashmi_s(RS) is applying for the loan, hence the bank will have the records under her name stating that RS is holding a bike HHZMA bearing registration XXX. However when it comes to the RTO, the bike is registered under Rashmi_s's boy friend (RSB), so the RC book will contain information stating RSB is holding a bike HHZMA under registration XXX. Now there's a conflict between the bank's record & RTO's record. To avoid this maintainence overhead of who is financed & for whom & who's holding the asset, the bank finances to the person who will become the owner of the vehicle; probably to ease up repossession too.

IMO, you can opt to swap the borrower & co-borrower's name & you'll get the finance arranged. So that becomes the primary borrower as RSB & co-borrower as RS. The bank doesn't care as long as the EMI is being paid.

Well its not a question on gender but on ownership

Oh!!! another information, though not sure, when you buy an asset (HHZMA here), it has to be between the asset owner's name & the bank (hypothecation). If the asset owner is RSB, he's not the primary borrower here, if the primary owner is RS, then she's not the owner of the asset.

there isnt any problem if it is registered in your name..All the cops care is that they should be presented(in case of a checkup) with all the relevant papers.

You want the bike to be registered in your name and want the docs to be in your boyfriend's name. This is a bit confusing. IMO, the owner need not be the person riding the bike at all times.

I will take my case... My brother brought my ZMA for me. He paid the down payment and the EMI's for 24 months. The bike was registered in his name. Even after 5-long-years the bike is still in his name.

And I have ridden the bike in all its life - office commuting, city riding, touring, weekend rides, and the likes. Lucky me, my brother doesn't know to ride a bike! I have been issued tickets on some occasions, but I didn't face the ownership issue with the cops.

However, in my case, it was my brother. The address in my driving license and the address in the RC matched. I don't think that would be the same in your case.

About your question of the bank asking for a co-applicant as the primary loan applicant is a lady, I don't have an answer. My suggestion... wait for a few more months, save up the remaining 30k+ amount and get the bike sans any worries.

i have been riding my uncles activa from the time when it was bought and till now,he too dosen't know how to ride,cops wont create any problem as i have experienced till now though

and hey one of my friend has a unicorn with the bike registered in his wife's name,and he paid the loan i guess??
but lets see what other members say
in ur case its vice versa,his name ur money

Requiring a co-applicant if an owner is lady->Crap. It's common sense as far as I can see. This would tantamount to gender discrimination and law cannot be seen doing that

Can the bike be in your name but somebody else ride it?-> Yes you can, I have been riding my father's bike for over seven years now and his car for over an year. No problemo.

If it is possible though, buy the bike in the name of the user. Not mandatory but advisable.

Lastly, make sure whoever rides 'your' bike has a valid DL else you will be in soup.

Name in both bank & R.T.O records will be the same as far as I can think. The said two-wheeler have to be hypothecated by the loanee to the bank. This is to be done by way of endorsement in the RC book. So name in the RC book will essentially be the one of loanee's.

Well, although my knowledge in this regard is minimal. But I must say this. Do not, I repeat absolutely do not get the vehicle in your name (or in the name of any other female for that matter). I say this for a reason. Imagine a situation, you boyfriend is riding the bike, a stupid jhuggi guy jumps in front of him, he crashes into the guy, the jhuggi guy starts whining as if his friggin leg has broken off and is stuck into his hinie, more jhuggi people gather around the scene and police also arrives. Now first off......police will demand the prescence of the person in whose name the vehicle is registered. That person being a lady, the police will exert more pressure, and you will have to bribe them unless you have some good connections up high.

If the person in whose name the vehicle has been registered is a male, the police still does exerts pressure but on males, the pressure exerted is much less. My friend has gone through this trouble and in his case, the vehicle was registered in his mother's name. She had to go to the police station and that experience was horrible for her. So please do not get the vehicle registered in your name.

With limited awareness i would advise two things
1) Get the papers from you boy friend (if not giving surprize to him) if yes then
2) Contact some other bank agent & get the financing done (dont think should have any problem as generaly ladies get finance for scooty & above CC bikes, may be you need to upgrade your driving licence, after getting the bike in your name (post purchase) contact RTO agent, get the sale letter created & obtain ownership transfer form (easily available in RTO) get it done & submit it in RTO.. and That's it.

for point 2 -- i m pushing coz, i was driving my bro bike, which was in his name, as i went to Pune for my MBA my bro. gifted me his bike to enjoy/rock in pune.. just to avoid issue in ownership he had done above things which i remeber ... now the bike is with me got the name changed in RC. got NOC etc...
I hope i was clear with my explanation