Failed to repay car loan

alok mishra (Querist) 21 September 2016 This query is : Resolved
What happens when anyone fail to repay it's car loan

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Raj Kumar Makkad (Expert) 21 September 2016
What is your relationship with the contents of this query?

Are you financier/banker/guarantor/loanee or just a student????

The situation for every above-noted concerned shall be different.

Ms.Usha Kapoor (Expert) 22 September 2016
you may've hypothecated the ear with seller while agreeing to buy in ENIs they will dispossess you from the car and auction and recover the sale proceeds for discharge of the loan. If sale proceeds are not sufficient they may even recover from yuu the balance through your personal liability.

R.K Nanda (Expert) 22 September 2016
State real facts.

Kumar Doab (Expert) 22 September 2016
Post full facts of the matter and reply to points raised by Expert Mr.Makkad.

Rajendra K Goyal (Expert) 22 September 2016
Academic query, state material facts of the problem if any.

Raj Kumar Makkad (Expert) 25 September 2016
The silence of author is sufficient to prove our contention.

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