Buying a used car by bank loan transfer

Name: Qatar Living Classifieds
Rating: 4.1 (228 reviews)
Author: Qatar Living

Hi friends.
Please enlighten me on the following.

If I decide to buy a used car from the seller who has car loan from a bank, Will the bank approve my application just like that, or I have to produce all documents like a letter from the sponsor and salary certificate etc which are needed while applying for a fresh car loan?

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3 comments Sort by rating

By _noms_• 17 Mar 2009 17:51

you will need to produce all the documents the present owner for the car did..

By Buzze• 17 Mar 2009 17:50

Rating: 4/5

i work in IBQ

yes you do need a salary certificate , passport +RP copyand 6 month bank statment to transfer the car loan under your name even the bank will re calculate the out standing for the car as a used car rate ,

even you should conteniue with the same bank becaouse there is no other wank in doha will take over this car for you its not allawed

you want my advice go for brand new car to get low intrest rate

thanks

(IBQ)

By pj661105• 17 Mar 2009 17:02

Yes, you'll need that stuff. Best bet, do a search on this website, top right for car loan transfer, there is a great answer in one of them telling you all that you need. Good luck

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Buying a used car by bank loan transfer

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