Transferring Financing

[Takmelius]

Hey guys,

I was living in Oman and now moving to Duabi isA. I had purchased a car (peugeot 307cc) and started financing it through a local financing company here. Do you guys know of any way by which I can transfer the financing to a company in Dubai so I can take my car with me?

Thanks

[root]

Have never done this, so not talking from experience.

However, have considerable dealings with banks and financing and i would doubt any easy way to do this.

Normally, you will need to settle 'early' with the Omani finance company, and then try to get a UAE one to finance it. The local finance firms will probably give you a lot of hassle on it as it has to be first in UAE and registered before it can be mortgaged/financed. But you cannot export/move it out of the country before paying off the previous one...and so on and so on.

I reckon you have spoken to your current financing company.

Even if you keep on paying your Omani Finance company from UAE, I dont think you will get export papers as the car is under mortgage in Oman.

Only solution I see is early settlement in Oman or selling it over there (which again means early settlement).

Let us know whatever solution you find...it will be interesting for the wider community.