To help you keep on the right track, SundayET outlines the process of closing a loan while pointing out the areas where individuals are likely to make mistakes. In fact, closure of the loan is almost as important as opening the loan, failing which could leave you in a position where your absolute claim over the vehicle cannot be established. Little, however, is said about what you need to do when you have finished paying your loan off or when you���re in a position to prepay your loan and rid yourself of the tension associated with paying EMIs. All you hear is about quick and documentation-free the process is and how your chances of owning that car or house, don���t have to be just dreams. There���s little that stands in the way of your getting a loan these days or at least that���s what most bank advertisements portray it to be.
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