InvestorQ : Can a borrower sell the commercial vehicle before repaying the entire loan amount?
Anjali Desai made post

Can a borrower sell the commercial vehicle before repaying the entire loan amount?

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Nishita Gala answered.
3 years ago
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No, one cannot sell the commercial vehicle unless the loan account has zero outstanding.

For selling a commercial vehicle taken on loan, one must first repay the entire loan amount and then get a no-objection certificate (NOC) from the bank or NBFC. Only after receiving the NOC can anyone sell off the commercial vehicle.

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