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Loan transfer

Discussion in 'Insurance & Loan Reviews' started by gopscreative, Jul 31, 2012.

  1. gopscreative

    gopscreative Amatore

    Messages:
    215
    Chicago
    Guys, I will be moving to US for my higher studies, hence My friend will be taking care of my Punto. Actually I had taken a loan of around 3.5 lakhs from HDFC bank in which right now 2.6 lakhs is the outstanding amount. Can the loan be transferred to my friend's name and then the vehicle?RC book is in my name itself and its not handed over to bank.. Only guarantee taken by bank was 3 cheque leafs...
  2. fiatlover

    fiatlover Esperto

    Messages:
    1,599
    Bangalore/Kasargod
    Bangalore
    Grande Punto 1.4
    Yes...You can do that...You can tell them that you are selling the car to your friend. It will be like a used car loan for your friend. The bank will take care of the RC transfer.

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