where should i get a car loan and how much is insurance?

Discuss which cars to get, where to get them from, tricks and traps to avoid, insurance... Also, great place for First time Car Buyers in UAE!

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where should i get a car loan and how much is insurance?

Postby robindubai on Mon Aug 21, 2006 12:48 am

back again

both the lady and i are buying soon, so how much is insurance roughly, for say drivers with decent track records (in UK) and for, e.g.

a 4x4 - say a few years old, value approx 100kaed
a MS say 1999?

And any tips on best places to get loans for second hand vehicles?
thanks
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Insurance

Postby Craig on Mon Aug 28, 2006 3:55 pm

Any insurance broker will help you with car insurance. Without no claims here, you might be looking in the region of 4.5 - 5% of the value of the vehicle as your insurance premium, which will be increased in the first year by the fact that you have to insure for 13 months as opposed to the normal 'year' (for registration purposes). I would go for a well known brand name (Royal, Axa, etc) and avoid the local companies. You may struggle a bit when it comes to flexibility if the vehicle is more than 6 years old.

Whilst I am involved with various forms of insurance, I don't do car insurance - so personally I insure through Gargash Insurance Services as a broker - 3369700 I think...

For finance, pick a bank - they're all as bad as each other here!

Hope this helps.
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good suggestions by Craig

Postby root on Tue Aug 29, 2006 12:37 pm

I have very little to add, other than if you buy a used car through a dealer they normally can help arrange finance as well. Or go to your own bank and negotiate them down to what market offers at around 4-5%.

For Insurance make sure you have your no claims bonus from UK, as that will help.

Another tip is that pay the extra 200 dirhams and get a rental car replacement in case your car has to go to a workshop after an accident. Insurance based repairs can take weeks and renting a car during that period can put you down a few thousand dirhams easily.

Again as Craig mentioned, try to go for the international brands, as they normally will pay full repair properly a lot of times from the agency.
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