Cars24 illegally charging higher foreclosure charges
1 year ago
Hi, i purchased a used car in Aug 2021 from Cars24 online app (loan provided by Cars24 Finance for 5.5lacs). As per the legal agreement during purchase, foreclosure charges mentioned are 5% if closed before 12 months period & 2% if its over 12 months tenure. I completed more than 13months EMI (including Oct 2022) and current outstanding is 4.64 lacs. When requested for foreclosure letter,the cars24 customer service is now asking to pay 5% charges as per their updated policy. I disputed the amount informing that my loan tenure is over 12 months and should be 2% only however there is no proper response from the company. Can I lodge a case if the Cars24 is not holding to 2% charges as mentioned in their sale agreement. Please advise. Thank you ??
You can file a consumer case in consumer court/forum.
Step 1: Register on the website, consumerhelpline.gov.in by clicking on 'New user'.
Step 2: Complainant needs to provide all the required details like name, email id, address and phone number.
Step 3: After completing the registration process, go on to log-in and fill in the username and password. Then go to 'File complaint' so as to file the complaint.
Step 4: Select the complaint type i.e. regarding products, service provider. ( Cars24 in your case)
Step 5: A page containing registration form will open. You have to fill the form with necessary details of the problem or the grievances and click 'submit'.
Sunny Seelam
Replied 1 year ago
Thank you Sir
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