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An Authorization Letter For Car Loan is a crucial document in the Indian vehicle financing process that establishes the formal permission granted by a prospective borrower to a financial institution for processing their car loan application. This document is particularly important in situations where the borrower needs to authorize the bank to conduct necessary verifications, access relevant documents, or process the loan in their absence. It needs to comply with Indian banking regulations, the Banking Regulation Act, 1949, and RBI guidelines for vehicle financing. The letter should clearly specify the scope of authorization, including document verification, credit assessment, and loan processing details. It's commonly used when there's a need for remote loan processing, delegation of loan-related tasks, or when dealing with multiple stakeholders in the car purchase and financing process.

1. Date and Place: Current date and location where the letter is being executed

2. Recipient Details: Name and address of the bank/financial institution to whom the authorization is being given

3. Subject Line: Clear indication that this is an authorization letter for car loan

4. Authorizer Information: Complete details of the person giving authorization, including full name, address, and identification numbers

5. Vehicle Information: Detailed description of the vehicle including make, model, year, and vehicle identification number

6. Authorization Statement: Clear and unambiguous statement of authorization for loan processing

7. Loan Details: Specific details about the loan amount, purpose, and basic terms being authorized

8. Duration of Authorization: Validity period of the authorization

9. Signature Block: Space for signature, name, and date for the authorizer