Background and Context........................................................................................................... 3. B. Purpose of this Guidance .......................................................................................................... 4. C. Target Audience, Status and Content of the Guidance ............................................................ 5. D. Scope of the Guidance: terminology, Key features and business models................................
A lien holder is someone who has either leased a vehicle to you with an insurable interest, or given you money on loan to buy it. The lien holder is usually a bank or another financial firm. When insuring your car, the lien holder is also included on your policy. This will protect the lien holder in the event that you are in an accident and damage the vehicle. The lien holder has a secured interest in the car.
All the vehicles lie in some specific group ranging from 1 to 20 which have been defined by the concerned law and enforcement authorities.It is evaluated that which group does a vehicle lie in by taking in account a number of aspects of the vehicle.What is the size of the vehicle which is measured in seating capacity and also the actual size of the vehicle.the engine size in the units of the horse powers.of the car.The owner ship of the car.