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Mohit Pandey   16 October 2019

Agreement For My car sale

I am Selling my car with fianance on it to my friend on a condition that rest of the instalments he is responsible to pay and if there will be any mechanical and any physical damage will occurs he will bear all the expenses and he will also be responsible for everything about the car...so is it possible to sell car with fianance on a agreement plz help me out...


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 2 Replies

Real Soul.... (LEGAL)     16 October 2019

yes you should make agreement detailing everything,but get the nod from financail agency too they can transfer the balance lon on your friend so that you will be free from liablities. Check with your financing agnecy if they be redaily to acccept

G.L.N. Prasad (Retired employee.)     16 October 2019

Avoid such sale and give it on rent or lease and mention all conditions you impose like that rent/lease amount must be remitted to loan account etc., and after clearing of the loan, the sale can be made for a nominal amount of Rs.1,000/- only.  Get the draft through an advocate.


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