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Question On Car Finance

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Question on car finance Mar 31, 2007
Can someone please tell me what kind of penalties or charges would be imposed if the car was sold prior to the end of the financing period. eg selling the car in year 2 under a 4 year bank finance.

Thank you in advance.

fafit
Dubai Forums Member
Posts: 41
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Apr 01, 2007
You can transfer the balance liability to the buyer
KeithL
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Location: Dubai
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Apr 02, 2007
transfer the liability assuming the buyer will finance the purchase as well?
what if the new buyer pays cash and I need to repay the bank?
fafit
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Posts: 41
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Apr 02, 2007
yes, you may then repay the bank, which excludes the charges of change of ownership & the same @ tasjeel when you go for a name transfer
ahamed
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