Legal Question in Consumer Law in India

Re: car finacing

No problem if the finance is pledge based even than vehicle has not yet been transferred from your name to its purchaser. Maximum pledged vehicle will be forfeited which you have sold if finance remains unpaid. Don't worry and be happy as you are not more liable.

Re: car finacing

you may get the vehicle transferred immediately.

Re: car finacing

it is not legally right you should inform teh finance company the details regarding teh sale of vehical an details of the purchaser

Re: car finacing

Hello.

First of all you may contact the party to whom you have sold and go for a deed of transfer of vehicle in his name. To be clear it is preety late to do but this would be on safer side.

If the finance dispersed is on his name then there is no problem but intimate finance company with the transfer deed of the vehicle so you dont have any liabilities relating the vehicle in future.

In case of need please contact a local lawyer.

Re: car finacing

No, it is not legally right; you should inform the financiar about your having sold the vehicle; you may also inform the registration authority about the sale by sending a letter per registered post.