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The new car bought on 31st January 2009 Spark LT Model white colour wants to sell If I get around Rs.3,70,000/- car was Hypothicated to SBH Mangalore, Can I sell or have to get permission from bank?

By Shankaranarayana on Jan 19, 2010


  • Hi,
    If you want to sell your car, then you can sell it but only thing you have to do is the loan preclosure. Once you settledown the resale price with buyer, you just informt o bank that you want preclose the loan. They will let you know about the formalities and then you can take the amount and close your loan.
    There is no need of any permission of bank. If the buyer want to go for a loan again in same bank then it will be even easy for you. Bank people will directly transfer the loan amount of buyer to your loan account and close your loan. this is only in case if the buyer get a loan in same SBH mangalore. It is better if you can contact the bank people for formalities.
    Answer by Kuladeep on Jan 20, 2010

  • Expert Hi,
    Mr Kuldeep have given complete details regrding selling of car under loan.
    Answer by Shiva Shankar on Jan 23, 2010

  • The price mentioned negotiable, my contact no.9663408749
    Answer by Shankaranarayana on Jan 24, 2010

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