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Transfer of Car Loan

Transfer of Car Loan

Old Mar 19th 2009, 4:18 am
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Default Transfer of Car Loan

Hi,

I hope someone can help us with this dilemma!

There is a good chance my partner (we are not married) will be made redundant at the end of this month and will consequently lose her work visa and residency. As a British passport holder she will have no problem remaining in Dubai (with the odd visa run required), our problem is her car.

I can pay the car loan (HSBC), but with no residency she won't be able to re-register the vehicle when it is due in May. Does anyone know if it is possible to transfer a car loan from one person to another in the UAE?

Is there any other way around it?

Cheers

Steve Bradley
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Old Mar 19th 2009, 4:31 am
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Default Re: Transfer of Car Loan

Originally Posted by SteveBradley View Post
Hi,

I hope someone can help us with this dilemma!

There is a good chance my partner (we are not married) will be made redundant at the end of this month and will consequently lose her work visa and residency. As a British passport holder she will have no problem remaining in Dubai (with the odd visa run required), our problem is her car.

I can pay the car loan (HSBC), but with no residency she won't be able to re-register the vehicle when it is due in May. Does anyone know if it is possible to transfer a car loan from one person to another in the UAE?

Is there any other way around it?

Cheers

Steve Bradley
photocopy her passport before visa is cancelled, and use the photo copy to re register the car
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Old Mar 19th 2009, 4:52 am
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Default Re: Transfer of Car Loan

Thanks BlueCat!

We thought about that but were worried that the registration process actually checks the validity of the residency and would show cancellation!!

Has anybody actually done this before?

Cheers
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Old Mar 19th 2009, 5:25 am
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Default Re: Transfer of Car Loan

Originally Posted by SteveBradley View Post
Thanks BlueCat!

We thought about that but were worried that the registration process actually checks the validity of the residency and would show cancellation!!

Has anybody actually done this before?

Cheers
Have heard of quite a few people (before the crunch..) who, when they sold their cars, simply transferred the loan and re-registered it in the new persons names. Dont see a problem, especially when you tell them she has lost her job. They'll be relieved as heel that it wont be collecting sand at the airport...
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Old Mar 19th 2009, 6:17 am
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Default Re: Transfer of Car Loan

Originally Posted by TGFKASE View Post
Have heard of quite a few people (before the crunch..) who, when they sold their cars, simply transferred the loan and re-registered it in the new persons names. Dont see a problem, especially when you tell them she has lost her job. They'll be relieved as heel that it wont be collecting sand at the airport...
what is the process for selling your car over here anyway, ive heard so many conflicting story's?
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Old Mar 19th 2009, 6:25 am
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Default Re: Transfer of Car Loan

Originally Posted by deemi786 View Post
what is the process for selling your car over here anyway, ive heard so many conflicting story's?
you sell the car for whatever you can and get paid?
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Old Mar 19th 2009, 6:26 am
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Default Re: Transfer of Car Loan

Originally Posted by admon View Post
you sell the car for whatever you can and get paid?
yeah but what if you have financed the car? get someone to take over the finance payments and then register the car to them?
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Old Mar 19th 2009, 6:34 am
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Default Re: Transfer of Car Loan

Originally Posted by deemi786 View Post
yeah but what if you have financed the car? get someone to take over the finance payments and then register the car to them?
yep you can do that.
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Old Mar 19th 2009, 6:45 am
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Default Re: Transfer of Car Loan

Hi Guys,

Thanks for all this!

I think officially transferring the loan to me and then re-registering in my name sounds the obvious and best option.

Thanks for the help!

Cheers
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Old Mar 19th 2009, 6:56 am
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Default Re: Transfer of Car Loan

Originally Posted by deemi786 View Post
yeah but what if you have financed the car? get someone to take over the finance payments and then register the car to them?
only if they fit the banks lending criteria, as that has been changed a lot in the last few months. hence why some cars are sold then not sold, because people cannot get or take over the loan payments etc depending on who you work for etc.
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Old Mar 19th 2009, 7:15 am
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Default Re: Transfer of Car Loan

Er I dont think you need to reregister the car on time.... i know a lot of people who have left their reregistration till 6 months+ past its due date.
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Old Mar 19th 2009, 7:26 am
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Default Re: Transfer of Car Loan

Originally Posted by SteveBradley View Post
Hi Guys,

Thanks for all this!

I think officially transferring the loan to me and then re-registering in my name sounds the obvious and best option.

Thanks for the help!

Cheers
Now, that is the way a noob should post on his first time in... Polite, direct and to the point, A please and a thank you...

Any time, Steve....
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Old Mar 19th 2009, 7:36 am
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Default Re: Transfer of Car Loan

Originally Posted by AnotherWorld View Post
Er I dont think you need to reregister the car on time.... i know a lot of people who have left their reregistration till 6 months+ past its due date.
you get a small fine if you don't
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Old Mar 19th 2009, 7:41 am
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Default Re: Transfer of Car Loan

Originally Posted by AnotherWorld View Post
Er I dont think you need to reregister the car on time.... i know a lot of people who have left their reregistration till 6 months+ past its due date.
Why do so many people on here show complete disrespect to the laws in this country?
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Old Mar 19th 2009, 7:49 am
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Default Re: Transfer of Car Loan

Originally Posted by lionheart View Post
Why do so many people on here show complete disrespect to the laws in this country?
Perhaps cos they can? On top of the fact that many of them suck.

...and this is a neverending opinion piece on every blog, forum and expat notice board on the internet.
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