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How is the car, against which the overdraft limit set up, valuated?

April 26, 2017car limit overdraft valuated

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How is the car, against which the overdraft limit set up, valuated?

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Valuation of the car is done at the request of the customer. In case the customer is to buy a new car with the limit facility, the invoice price of the new car serves as the surrogate for the car valuation.