I bought Honda dio on August 2021 by emi of 24 months from cholamandalam finance. I paid 12 months emi on time. Due to unemployment I can't able to pay 3 emi consecutively for the month of sep,oct and nov 2022. They seized my vehicle and asking full settlement of 66000 to recover my bike. Kindly let me know how can I recover my bike
I paid down payment if 12000
Emi paid (12*4100=49200)
Cost of bike 98000
You have start paying the money back to get your bike back. And make a negotiation with them about the problem that happened will not happen anymore.
You have to settle the issue by personally visiting the said office. Most of the finance companies are interested to seize the vehicles and sell the same at lower cost and make profits.