I need to exchange my Punto (P) which is under loan from SBM, Bangalore. Planning to upgrade to Ford Classic or Scorpio.
So i have some doubts,
1) Do I need to close this loan before selling the car and get a NOC from Bank before going for exchange. If so, do I need to endorse the RC for hypothication removal?
2) Can I directly take the car for exchanging and mention the Hypothication and leave it those guys?
thanashyam recently exchanged his Alto in hypothication to get a new i20. Everything was taken care by the hyundai dealer.
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