Yes, you can buy a Used/Pre-owned vehicle by taking a Vehicle Loan. The terms & conditions are different depending on the bank you would deal with. However I could advise you of the services offered by Commercial bank. They have a policy to finance Used Vehicles as long as it is not older than 3 years. Moreover the valuation should be from an Approved Used Car dealer.
The interest rate would be slightly higher as well.
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Thanks again!
Hi, buying a used/old car with a personal loan would be cheaper and easy. Try it out. Best of luck.
That's not true! It's below 7 years. If it's 6 years old the loan will have to be repaid in 1 year. 5 yrs old - in 2 yrs, and so on.
Thank you all for your valuable answers. That is very kind of you.
Regards
If you really want to buy the car and the bank doesn't approve a "car" loan, take a "personal" loan and buy the car.
I dont think any bank would refuse the chance to make easy money,
as long as the car is not more than 3-4 yrs old
Yes, you can buy a Used/Pre-owned vehicle by taking a Vehicle Loan. The terms & conditions are different depending on the bank you would deal with. However I could advise you of the services offered by Commercial bank. They have a policy to finance Used Vehicles as long as it is not older than 3 years. Moreover the valuation should be from an Approved Used Car dealer.
The interest rate would be slightly higher as well.
Best of luck!
Your can appply but the bank only consider car with less then 4 years old.
Check this thread for apply it:
http://www.qatarliving.com/node/80642