Car Loans - Loan disbursement cancellation

How does Resolver work?

Free forever

Resolver is free. No adverts, no hidden costs. Just raise a case and leave feedback after. Simple! We’ve helped millions of people find a resolution. Get started now and let’s get this sorted.

Know your rights

There’s no jargon in our rights guides. Instead, they’re full of the info you need to get things sorted. We’ll always be on hand with guidance and support to help you get the results you’re looking for.

Get your voice heard

You can be certain that you’re talking to the right person at the right time. We automatically connect you to contacts at thousands of household names, ombudsmen and regulators to find a resolution.

Your car loan disbursement may be cancelled due to a discrepancy found in the formalities related to disbursement. You should be communicated the reasons as to why your loan disbursement has been cancelled. Such communication should be made through a notice. If no such notice is received and the cancellation is processed, it amounts to deficiency in service- which is against consumer rights as per the law.

Resolver will guide you in taking appropriate steps towards the resolution of the issue with your lender. If you’re unsatisfied, you’d be given an option to escalate the matter to the Customer Service Head, the Nodal Officer or the Banking Ombudsman, respectively.

You should know
  • Car loan agreements are quite complex to understand and might cause a dispute or misunderstanding.
  • Locate your car loan agreement and find out whether your concern is mentioned in the document. Keep all other related documents readily available.
  • Determine the type of redressal you want against your grievance and act accordingly.
  • Keep a record of every conversation you have with your car loan provider. Note the name of executives you speak to.
  • Banks have a fixed procedure of car loan complaint resolution, including the hierarchy.
  • Your car loan matter should be ideally resolved within 30 days. Make sure you are given an explanation for delay beyond the stated time.
  • Pay your EMIs on time even if there’s a dispute- if you default, you may weaken your case and damage your credit score.

How to make a complaint against a car loan provider in India?

  1. Follow the bank’s dispute resolution procedure by first contacting the customer care cell of your car loan provider via Resolver.  You can also contact the car loan customer care department by calling on the given toll-free number. Your query should be addressed within 24 hours.
  2. Alternatively, you can state the particulars of your issue and Resolver will assist you in connecting with the right person. At this stage, the bank should ideally provide you an acknowledgment number against your issue.
  3. As another option, you can first try contacting the person who sold you the car loan deal. It might ease the process if you choose to approach the bank directly. You can also submit your complaint via the official website of the bank.
  4. As a next step, you can contact the Chief of the Customer Care Department/ Chief Grievance Officer to escalate your issue via Resolver. You can draft your complaint with the help of Resolver’s free online tool.
  5. The next step is to approach a Nodal Officer to further escalate your matter. A Nodal Officer is internally appointed by the bank for every city/ district. The Standing Committee on Customer Service or the Customer Care Committee of the Board can also be contacted for grievance resolution.
  6. Finally, your issue will be sent to the Banking Ombudsman, which is an independent authority for resolving financial matters. Your complaint will be heard and decided as per the facts and circumstances. You can file an appeal against the decision of the Banking Ombudsman at the Appellate Authority set up by RBI.

Resolver can assist you in escalating your complaint at any of these levels. You also have the option to file a consumer case at a Dispute Redressal Forum but this option is generally costlier and time-consuming. Resolver's free tool will help you get a settlement without taking the legal route.

Find the best rights for you

We have 1,315 pages of rights advice for you covering 1,920 companies and organisations across 4 public & private sectors. Feel free to browse companies for this specific issue - they're all listed below - but the quickest way to find the best rights for you is by using our unique Rights Finder to access our extensive database of advice.

Start by telling us the name of the company or organisation you have an issue with.

Who do you have an issue with?

Raise it for free via Resolver