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  1. Aneesh
  2. Complaints, Objections
  3. Saturday, March 23 2019
I have booked and paid full amount of tata nexon xma. I have paid 81000 cash and remaining balance was paid by my finance from sbi. Now i have change my mind to cancel my booking. Is this possible to cancel my finance too.
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Hello,

Possible but you would need to
> Contact SBI first and ask for cancellation charge
> Contact dealer and initiate for refund from dealer to give amount to SBI
> The number of days dealer takes the higher interest will be required to pay
> As the margin money is also hypothecated to bank, generally the dealer refund margin money along with loan disbursement amount to Bank as consolidated amount after deducting there cancellation charges

The bank will then deduct applicable interest on per day basis along with loan cancellation fees and refund amount to customer
Hope should help !!


  1. more than a month ago
  2. Complaints, Objections
  3. # 1
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