IF SM1 WANTS TO SELL A BANK LEASED CAR WHICH IS ON HIS OWN NAME R THR ANY RISKS INVOLVED OR IS IT EASY TO SELL AND 4GET ABOUT IT 4EVER
MOD EDIT - Moved to Importing/Leasing Vehicles.
Kindly, do not write in caps.
Thanks.
you cant get the car transferred to another party without paying up the financed amount first. In simple terms, first get the cash from the party concerned (bear the loss ur self) and pay it to the bank in person, Reassure if the bank is done with u then wait for the NOC from the bank (along with the other key of ur car), after that, get the car transferred to the other party and u're done
And that loss could be insane. I've had very bitter experiences with leased cars. There is certain amount of risk involved. If one is not a thorough reader/thinker one can easily be fooled.
Thanx for ur suggestions bros. And if the person who is buying the car off u he agrees to pay the rest of the instalments is it risky to do so or is it easy.
@immmmihell, dont try it, brother...its 100% illegal and risky on ur side :-S
@insaan is right... if something goes wrong, its always your neck that is on the line...
you just can't legit your deal with the second party... No way...
SO THAT MEANS THR IS NO WAY TO GET RID OF THE BANK LEASE CAR EXCEPT TO PAY OFF THE REST OF THE AMOUNT TO BANK. WAISA I HEARD THAT BANKS R STOPPING CAR FINANCING....
@immmiyes, u have to get all the installments paid before attempting to transfer ur car...how u comeup with the money to pay-off ur car is totally ur headache