If you have a bank loan against your car, you will have to first settle the loan. RTA will not transfer your car unless you have a clearance letter from the bank for the chassis number on the car. If the buyer of your car is looking for car loan, it is advisable that you take a token amount and once buyer gets approval for the car loan from his bank, take the approval letter and then go ahead with the sale. In most case, your buyer’s bank will get involved in this as they need to mortgage the car.