Secure loan - My father took auto loan
2 years ago
My father took auto loan and he paid complete emi for 3 years on my mother behalf. Now he just expired a few days ago and my mother is a house wife and i have jist started the career. Only one year emi is remaining how can i go for one time settlement
A.Dear Client,
As per the facts mentioned, if you’re unable to pay emi on the auto loan then the bank can confiscate the car and auction it off to recover the loan.
You are even eligible to get a car loan tax exemption if you are self-employed and using the car for business purposes.
As per the facts mentioned, if you’re unable to pay emi on the auto loan then the bank can confiscate the car and auction it off to recover the loan.
You are even eligible to get a car loan tax exemption if you are self-employed and using the car for business purposes.
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A.Dear Client,
In cases where the flow of income has been temporarily disturbed, banks may provide EMI free period. Unforeseen issues like job loss, temporary stoppage in business, operation etc, can be addressed this way. Here the banks may agree to waif-off the EMI collection for a certain period of time (say 3-6 months). After the lapse of this period, the EMI payment must start. You can tell about tour problem at the bank and they may provide you with EMI free period.
Hope this clarifies your doubt and requirement.
Thank You.
In cases where the flow of income has been temporarily disturbed, banks may provide EMI free period. Unforeseen issues like job loss, temporary stoppage in business, operation etc, can be addressed this way. Here the banks may agree to waif-off the EMI collection for a certain period of time (say 3-6 months). After the lapse of this period, the EMI payment must start. You can tell about tour problem at the bank and they may provide you with EMI free period.
Hope this clarifies your doubt and requirement.
Thank You.
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