Due to current economic climate i am struggling to get finance, i work as BDM for not very well known property developer, most of the banks have put freeze on us, my salary is paid in cash
i am looking to finance about AED 90ish any suggestions???
HELP: Stuggling to get financeModerator: azi malik
8 posts • Page 1 of 1
HELP: Stuggling to get financeDue to current economic climate i am struggling to get finance, i work as BDM for not very well known property developer, most of the banks have put freeze on us, my salary is paid in cash
i am looking to finance about AED 90ish any suggestions???
Re: HELP: Stuggling to get financeCan you get a credit card?
If yes, try to get an Islamic Bank credit card with a high limit and buy it on that. As its based on fees and not interests, you end up with a good rate when going to high amounts. But it will probably be hard to get a card with high limits without a salary certificate. You need to build your 'credit rating' in UAE. I would suggest that you have a current account, put in the money you get every month in cash into the account, so that when you get bank statements printed, they can see a regular income. In most cases a letter from your company would work, but if you are on freeze, then that won't help either. Still check with your company. They must have atleast 1 bank that they have good relations with (their current account bank), and normally you can go that channel. It's hard these days for real-estate guys and bankers to get financing these days. I guess in the hey-days these 2 groups notoriously abused the systems! Come and discuss at the most lively forums about Cars, Bikes, 4x4s...at http://www.autodealer.ae at the Autodealer UAE Forums.
Re: HELP: Stuggling to get financeI have premier account with Barclays and Noor Bank, they offered me credit card but i dint take thinking it will be alright, i also have salary certificate and letter from employer etc its just Ba**** are not listening at the time i want to buy
Re: HELP: Stuggling to get financeyeah, but you can probably switch banks! shop around and talk to other banks, as the loan market is loosening up.
Come and discuss at the most lively forums about Cars, Bikes, 4x4s...at http://www.autodealer.ae at the Autodealer UAE Forums.
Re: HELP: Stuggling to get financedid you try al hilal bank?
also if you buy from trading enterprises (honda) they keep advertising in the paper guaranteed financing for people with min salary of 4000-5000
Re: HELP: Stuggling to get financeI even tried with halal bank, i have very good terms with them.
Since i cannot get it on my name i even tried on my brothers 20 years old auto part company...and the worst part is no bank is financing used car on company name either Only Mushreq is financing 75% on company name. I dont want to get brand new Honda nissan etc just not my cup of tea, i am looking at 300 srt8
Re: HELP: Stuggling to get financeYou oughta get Chryslers cheap these days after the company filed for bankruptcy!
Try also RAK bank. They seem to be lending these days. Come and discuss at the most lively forums about Cars, Bikes, 4x4s...at http://www.autodealer.ae at the Autodealer UAE Forums.
Re: HELP: Stuggling to get finance
Yeah man, i love them srtzz, recession took my Range so ive to settle myself with nice looking luxury muscle car for some time, still cant decide 5.7 hemi or 6.1 hemi, if i buy 5.7 then ill def lower it with 22" and touch screen nav dvd VS 6.1 which is ready i.e 20" sport tuned suspension & steering + sport seats etc, i will just need nice headunit, mesh grill + exhaust cutouts ! thats about it, fuel will be about AED 150 month extra on srt so i am researching these days, looking at 2006-2007 model as i dont really like the look of 2008 onwards. Chrysler bankruptcy didnt effect the price here in UAE i have been monitoring for some time. RAK is not giving finance to property+finance industry ppl TIP: If you have 90K cash u simply put in fixed deposit for 5 yrs at about 8% annual return against that they will finance @6.25%, which means you can pay off installments + 1.75% or free maintenance
8 posts • Page 1 of 1
Who is onlineUsers browsing this forum: No registered users and 18 guests |