Dear Mr. Singh,
a friendly suggestion ! 1. You cany sell yr car directly without involving the bank !
2.it is always better to sell your car in the open market rather that attempting an exchange. Reason - dealer will get the valuation done by a valuer then quote a price which will certainly be lesser than the market.
3. put up an advertisement in the classifieds column of a good newspaper - TOI, dainik jagran. I can assure you of a good response. Fix the deal, take advance and get the payment deposited in the bank from whom you have availed the loan ( hope it is a Nationalised bank as they will not charge any pre-closure amount !) Bank will provide you with an NOC, a/cs statement with zero balance & a signed Form 35 two copies, which you have to arrange. This will be handed over to the new buyer.
4. Bank will collect their full & final payment and give you the balance which you can utilize as margin money for a fresh loan for the vehicle you intend to buy !!
5. keep a copy of the current registration certificate & obtain a copy of the same when the registration is transferred on the new buyer's name - keep copies for yr personal record and give one set to Hyundai dealer who will give you an exchange bonus for Rs. 10,000 applicable on Santro. Currently there is a very good offer available on Santro. My friend has booked one at Lucknow.
6. I have taken the same route and sold my 2007 Santro top model fully loaded and took Rs.25K more than what valuers offered me !
7. you may even quote yr price which if suitable I may go for it. As I am yet to buy one & awaiting a good festive offer.
8. Lastly, I am no auto expert but have tried to give you the best solution.
Rajeev Shukla
9793062333