please help. my friend came home fr. qatar. with a carloan.
my friend came home from qatar with a carloan. he decides not to come back in qatar coz he's visa will expire next mont. if the company renew the visa, its fine. but if not, thats the big problem. he didnt have accomodation and transportation. what is the best way for him to settle his carloan? while outside qatar please advise.
I know that if you are going to sale the car till you have the loan the person whom want to bay the car must also pay for the bank new interest like that he is baying new car from the car dealer .If he make del with new bayer to give him cash , he may pay for the bank rest of loan !
If he needs to settle this. the best option would be selling the car with his/her friend's help.
though u make deals with the bank. the conclusion is goning to be the same. either sell the car, and pay the intrest also.
I meant to say without settling the car loan, exiting the country.
The best way is that your friend discuss this situation with the bank management, he could transfer the car loan to somebody ( if anyone is willing to purchase the car. Also if he comes back to qatar and then leave officially then there maybe some problem for him while exiting the country next time.