Buying a vehicle in Qatar
Hello,
I'm looking to get more details on the process for getting a car loan in Qatar for folks coming from the US (im guessing its the same for everyone), what i would like to know is the following:
1- do you get the loans from the car dealer or from a financial institute (like a Bank)? if from a Bank, do i get the loan first (to get whatever im approved for) or pick the car first?
2- Whats is the minimum or normal down payment for the car loan?
3- can you build credit in Qatar? how are you rated to get the best interest rate.
4- Last but not least, seems like alot of folks are sugesting Land cruisers as the most reliable suv for that region. any other suggestions as far as reliability?
5- advice on buy a car?
I know alot of questions, i really appreciate your help in advance.
Thanks!
Thank you for your replies, very informative and helpful!
1. Go for a Bank loan, preferably the bank where you get your salary transferred.
2. Minimum down payment for a car is 20% of the total value of the car.
3. There is no credit rating as in the US. If this is your first loan in Qatar and if you do not have a credit card from a Qatari Bank chances are that you would get a good interest rate. Try Commercial Bank because they have an interest rate starting from 2.69%.
4. I own a 2011 GMC Sierra and I love it. I am currently looking to sell it off and buy the 2014 GMC Sierra. Ford and Toyota have good cars but the after service sucks. No idea about the others. GMC has excellent after sales service.
5. If you need any other help, kindly lemme know. Would be glad to help a new expat.
First, you can make car loan with the bank. Second, you can do salary loan, take the cash and buy the car of your choice. Third, aside of land cruisers consider nissan, mitsubishi, audi, land rover, ford, jeep/ GMC, etc. Lastly, go for american cars they are more reliable than japanese made.