Closing Your Car Loan? Don’t Forget These Essential Documents! #shortvideo

Closing Your Car Loan? Don’t Forget These Essential Documents!
When it’s time to close your car loan, ensuring you have the right documentation is crucial for a smooth transition. Here are three essential documents you should take with you:
No Objection Certificate (NOC): This document is issued by the lender, confirming that the loan has been fully repaid and that they have no objection to you removing the hypothecation on the vehicle. It’s a vital piece of paperwork that protects your ownership rights.
Form 35: This form is required to remove the hypothecation from your car’s registration certificate (R/C). Submitting Form 35 to the Regional Transport Office (RTO) is necessary to update the vehicle’s ownership records, ensuring that you are recognized as the sole owner.
Intimation to Insurance Company: Informing your insurance provider about the closure of your loan is essential. This step ensures that they update their records and can assist you in adjusting your policy as needed, especially if you plan to change coverage or switch providers.

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Видео Closing Your Car Loan? Don’t Forget These Essential Documents! #shortvideo канала Smart Legal Advice