This is a formal complaint against the kind of mental & physical harassments, I received while trying to finance a used car from Kotak mahindra Bank, Delhi. I simply can't understand why the bank is ready to finance easily for a new car, but asks hell lot of docs while going for a true value car. Even, if the bank is a partner of that showroom. It simply means that even the partners are not sure about the quality of true value cars. Then how can Maruti expects its customers to be loyal enough?

Further if the bank is asking for the documents, it must state it at one go. To ask for furnishing the docs in parts have harassed me both mentally & physically for almost two weeks, that too despite booking the car in advance.

Its the first time, I have heard that there are negative areas for car loans. I must ask how much valid is the idea of negative areas.

Further on which basis they create negative areas. Is it legal ???

I booked a car on 14th June 2007 from Alianz Automobiles, Safdarjang Enclave, Delhi. It was an Alto of July 2004, not that old either.

I financed through Kotak Mahindra Bank, which they claimed to be their partner. I submitted all the documents they needed.

Thereafter they kept on asking for documents in parts apart from the one I already submitted. Further I called up almost 25-40 times in this 1 week rather than themselves calling me to update my status.
Their customer service was something, which I could rate 1 on a 10 point scale.

Finally, they suggested me that I should rather go for a new car, as getting financed for it is easier.

Further, I would spread across this message to as many people as possible, so that they should also not fall in the trap.

Kotak Mahindra is one of my worst experience ...