AUTO LOAN HYPOTHECATION
Repaid your car loan but unable to sell? Your vehicle may still be marked as hypothecated to the bank; you need to do this now
Paying your final car loan EMI doesn't automatically make the vehicle legally yours. Hypothecation, where the bank's name appears on your registration certificate, remains until you formally remove it. You must obtain a No Objection Certificate (NOC) and Form 35 from the lender and submit them to the RTO to transfer full ownership.
Word of the Day: Hypothecation — here’s today’s word meaning, usage, and real-world applications
Word of the Day: Hypothecation — Hypothecation is a key financial term every borrower and investor should understand today. It means pledging an asset as loan collateral while keeping ownership and daily use. This system powers home loans, car loans, margin trading, and business financing worldwide.
Why Kunal Shah’s Cred is betting on secured loan products
Kunal Shah-promoted fintech has conducted market study and spoken with lending partners, but it is still early days, say sources. Unlike consumer credit, secured lending has a long physical leg to the business too. An NBFC executive highlighted the importance of control over loan disbursal and credit underwriting processes for secured products.
HSBC India teams up with Tata Motors for EV financing solutions
HSBC India has collaborated with Tata Motors to provide loans to the corporate sector employees for buying electric vehicles (EVs). The deal offers customers with a salaried account with HSBC India a bespoke loan solution to buy from Tata's EV portfolio. People who avail this loan will get a special accessory kit for the EV they purchase, along with other advantages like low processing fees, zero depositions, no hypothecation, and no documentation fees.
How to get the best resale price for your car
Some simple tips can help you get a better deal when your sell your vehicle.
Why the economy needs a low interest rate regime
For credit markets to revive again and for lending to expand as needed, we need a low interest rate regime. This cycle will peak and correct as it always does, but right now we are closer to the bottom than the top.
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What Lakshmi Vilas Bank account customers should do post imposition of moratorium?
If you are a customer of LVB, you would be understandably worried about the future of the bank and more importantly, your own money in the bank. So, let us look at what account holders should do and what they can expect once the merger with DBS India is completed.
How to get a loan to buy a pre-owned car
Most banks and non-banking financial companies (NBFC) offer loans to buy pre-owned/used cars. The terms and conditions and charges vary from one lender to another. Select lenders may offer you up to 100 per cent financing but most will offer you up to 80 per cent.
Loan fraud case: No wrongdoings found in functioning of Carnation Auto by bankers, says ex-Maruti chief Khattar
Khattar, who has been booked by the Central Bureau of Investigation (CBI) for an alleged bank loan fraud of Rs 110 crore, said no lapses in operations or financial management were found in the company by the investigating audit authorities and expressed hope that he will be vindicated once the probe is over.
NBFCs go on an overdrive as economy rebounds
The NBFCs have witnessed a recovery in growth since the second quarter of this year, primarily due to improved sale of cars, multi-utility vehicles and tractors.
Banks may charge higher booking rates for Nano
Banks may charge a differential rate for providing booking finance for the Nano with interest rates on booking finance being higher than auto loan rates for the car.
ICICI to take a relook at its used car financing business
ICICI Bank is re-examining its used car financing business model. The bank has stopped giving credit limits to its direct selling agents (DSAs), at a time when other banks have only tightened their DSA limits, after being hit by a spurt in delinquencies and fraud.
ICICI to take a relook at its used car financing business
ICICI Bank is re-examining its used car financing business model. The bank has stopped giving credit limits to its direct selling agents (DSAs), at a time when other banks have only tightened their DSA limits
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