[phpBB Debug] PHP Notice: in file /viewtopic.php on line 920: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone.
[phpBB Debug] PHP Notice: in file /viewtopic.php on line 920: getdate(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone.
Autodealer UAE • View topic - How to sell a bank owned car ?

How to sell a bank owned car ?

Ask any questions regarding Autodealer.ae and how it works! If you have any Comments please feel free to share them here.

Moderator: azi malik

  • Share

How to sell a bank owned car ?

Postby Khayyal on Sun Oct 14, 2012 3:13 pm

Am selling currently my Jeep which is owned by the bank. What is the process if I wish to sell the car and have a buyer ? Unfortunately I cannot pay the remaining amount so would need to use the buyers cash. Thanks for helping.
Khayyal
Newbie
Newbie
 
Posts: 2
Joined: Sun Oct 14, 2012 3:10 pm
My Ride: I don't know what I ride
My Profession: MD
My Dream Ride: Porsche 911

  • Share

Re: How to sell a bank owned car ?

Postby root on Sun Oct 14, 2012 10:32 pm

You'll need to talk with your bank, as you cannot sell it before you've settled the mortgage! Your buyer might want to take over your loan if s/he qualifies by the bank to get a loan. Or you'll need to get it settled through some bridge loan which the bank should be able to arrange.

Hence, in short, talk with your bank :)
Come and discuss at the most lively forums about Cars, Bikes, 4x4s...at http://www.autodealer.ae at the Autodealer UAE Forums.
User avatar
root
Site Admin
Site Admin
 
Posts: 3637
Joined: Tue Aug 02, 2005 1:45 am
Location: Dubai
My Ride: VW Touareg V8 2005
My Profession: Car Enthusiast
My Dream Ride: This month: Nissan GT-R

  • Share

Re: How to sell a bank owned car ?

Postby Brembo on Mon Oct 15, 2012 7:42 pm

you will have to settle the loan with bank first. for that you need to find a buyer who will trust you enough to hand over xxxxx aed. once loan settle with bank they will give a letter which you can take to rta and transfer ownership to new buyer.
all this cannot be done in a day as the bank will take their normal processing time which could be anything from 2-4working days. kinda sucks but thats how it is.
User avatar
Brembo
Street Racer
Street Racer
 
Posts: 630
Joined: Sun Mar 04, 2007 7:43 pm
My Ride: riced up honda civic
My Profession: delivery boy
My Dream Ride: toyota corolla white

  • Share

Re: How to sell a bank owned car ?

Postby Khayyal on Mon Oct 15, 2012 8:21 pm

Thanks Brembo.
Khayyal
Newbie
Newbie
 
Posts: 2
Joined: Sun Oct 14, 2012 3:10 pm
My Ride: I don't know what I ride
My Profession: MD
My Dream Ride: Porsche 911


Return to Questions or Comments about Autodealer.ae

Who is online

Users browsing this forum: No registered users and 0 guests

cron