Agreement For My car sale

yes you should make agreement detailing everything,but get the nod from financail agency too they can transfer the balance lon on your friend so that you will be free from liablities. Check with your financing agnecy if they be redaily to acccept

Avoid such sale and give it on rent or lease and mention all conditions you impose like that rent/lease amount must be remitted to loan account etc., and after clearing of the loan, the sale can be made for a nominal amount of Rs.1,000/- only.  Get the draft through an advocate.