ADteacher

Thanks, I don't have kids- it's just me. Parking is quite ample where I live it seems, I haven't investigated it fully but someone in the building mentioned residence permits.

The price of cars do seem quite reasonable to me really. If I took out a loan or finance, typically how long would I be expecting to take it over?

busybee2

you are allowed 2 residence parking permits per apartments, 1200 i think for the first and 800 for the second. then you can park in special areas overnight etc. you need to contact

https://www.abudhabi.ae/egovPoolPort...261828&lang=en

ADteacher

Great! now just to await my residence visa and make a car decision!

busybee2

is bsak still with nbad then go with their bank it will be easier you will get a better deal. just remember that when buying a car on a loan its written down as a mortgage and the bank owns the car until you have paid off the loan and paid the traffic dept to change the gold registration card. if you are on a two year contract which they are usually you must pay off the loan in order to sell the car, and quite often there is a penality if you pay it off early. you need to check the terms as also the interest (if still the case) is calcuated over the whole term of the loan so you pay equal amounts per month so if you pay off early you have already paid off the interest anyways.

there is no need to go for a bigger car just because of the wackey racing drivers here, go for a strong car, look at honda or volvo or vw etc. as i have said before try and get a saloon car that has a lot of metal behind you. ie dont go for a little yaris or mazda 2 until you are very familiar with the driving here. a lot of the rental cars are corollas and lancers not the nicest. ramadan is one of the best times to buy cars you have missed that but there may well still be deals on, and when they get their new shipment of models then they will sell the older models a little cheaper, also look at demo cars, good deals to be done. if you are only going to be here for 2 years contract then look at making sure that the car you buy you will be able to sell on again obviously if you are working at bsak people stay on for years.

busybee2

u can rent but as soon as your get your visa you must exchange to a uae driving licence. i remember all the new staff disappearing in the first weeks of school off to do this paperwork and that paperwork... hi ho oft to work you go.

busybee2

bsak pro is brill he gets things done very quickly. but quite often banks require 3 months of salary etc, u may well be ok though as bsak isnt going anywhere...

Millhouse

I love it when you go all out with a long post.

busybee2

me i just ramble along..... so much information in my head to pass on, shall i stop then

ADteacher

No no, don't stop busybee- it's very helpful! I'm in the process of opening my account with nbad through bsak so manybe i'll wait until all that is settled and then look at loan options. I also don't have a credit card which I think confuses things in terms of getting a hire car- although budget have said I can put down cash to secure it!

Think I need to find a seasoned pro to take me to the car showrooms!

busybee2

thought they were with nbad my two suggestions for banks here are adcb and nbad stay away from hsbc. credit card and car hire yes they will ask for it, paying cash will complicate things, but for short time you will have to shop around i suspect. but you will be fine as bsak would be considered a very good employer, the pro is brilliant at sorting out any issues too. he has been doing the job a long long time now.

ADteacher

Yes, they've been very helpful so far (visa, medical, banks etc). It's just knowing what to do best really. I think in my head I'm leaning towards hiring for a few months whilst I find my feet and get the chance to shop around/slash earn some money!

busybee2

yes thats good and go to the showrooms etc to find out exactly when the new models are coming in if they havent already as then they will discount last years ones.

ADteacher

Thanks for your help busybee!

Tockalosh

Also its not obligatory to get a car loan to buy a car. You can get a personal loan and then buy a car with it

You pay a slightly higher interest rate but you have clear title on the car and can so dispose of it when you wish without any dramas and then clear the loan

I opted for this route and pay an extra 20 quid a month or 700 quid over the course of the loan. As the car is cheap by European standards I am not arsed and can flog it whenever I wish

Just don't tell the bank when you apply what you are up to

The extra interest is the banks protection for an unsecured loan against a car loan where of course they have security

ADteacher

How easy will I find getting a bank loan considering I'm a newbie?