Car Tips and Tricks: You had also taken a car loan but you have closed your car loan account, then tell that the work does not end here. Even after this there is an important work which you have to do otherwise you may face problems later.
Car Hypothecation Removal: Do this work after repaying the loan
Image Credit source: Symbolic picture
Most of the people take loan from the bank while buying a new vehicle. In such a situation, hypothecation is registered on the registration certificate of the vehicle. It is impossible to sell the vehicle due to its information being in the RC as well. If the vehicle is to be sold, it becomes very important to remove the hypothecation.
Whenever you go to buy a new car in the showroom, you will also see a charge of hypothecation in the price breakup of the car. Along with the record, it is also recorded in your car insurance. In such a situation, if you want to sell the car after closing the car loan, then first get Hypothecation Removal done.
How to Remove Hypothecation
Source: www.tv9hindi.com”