transfering car loan to another person

indelible wrote:

I hav a car loan in ANB and i want to go final exit,  is it possible to transfer my car loan to another person? If yes how?

You would have to contact the financial institution  and ask if it can be done.

Yes. It can be done. Prepare the documents by bringing company letters, drivers license, copy of house contract, etc of the buyer to ANB.

Hello Inde,

Yes.  The loan can be transferred to a new buyer, you need to take the prospective buyer to your lending bank and the bank's staff will assess his credit worthiness  depending on his job and salary.

Better still you can sell the car to this buyer and pay your remaining dues to ANB, the buyer will be free to have the financed from any bank which offers reasonable terms.   

Is it possible to transfer personal loan to someone else?

I hav a car loan in Al ahli (SNB) and i want to go final exit,  is it possible to transfer my car loan to another person? If yes how?

@ashfaque21zeya me and my husband tried this before he left saudi. we looked for someone with 10k sar salary as per snb requirement. then other documents such as passport and iqama copy.

Transfer is done or still remain.

@ashfaque21zeya transfer done

Last question can you tell me.

Before how many days you made car transfer.

And any time period is there from bank or company to make transfer. ( Means in some cases we have to make transfer or take NOC after 6 months of installment)

@indelible you transfer your car? i have car loan also in ANB i want to transfer it, what are the requirments

@indelible did you transfer your car? i have ANB car loan also i want to transfer to other person, what are the requirement

is there any company takes over the car that has a bank loan?

I have a car loan in SNB and unfortunately I got laid off from my job and need to exit. I paid only 3 months and I went to SNB leasing bank to ask. Which they gave 3 options for my issue.

First is to pay the full settlement which is I cannot due to my situation.

2nd is to transfer the car to someone which is hard for me as I already posted and asked but no one wants.

3rd is to contract termination which is the bank will take the car for auction process and any balance compared to the total loan amount they got from auction will paid by me which is a huge amount as well. The process will not guarantee to be done within 2 months and will got conflict on my stay.

Any advise for my current situation because I don't have the means to pay it all and I had only 1 month left to process my final exit.

I bought a car from Aljazirah bank and now I'm planning to go for final exit. I have paid the installment for 9 months, but I don't have enough financial situation to pay the full amount. How can I sell my car now?