How to sell a bank owned car ?

[Khayyal]

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.

[root]

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

[Brembo]

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.

[Khayyal]

Thanks Brembo.