Car Loan From ANB- Final Payment Due - Car Taken by ANB

7-8 days delay on final payment only and the car got picked up by recovery team???

That's really strange. Have heard this for the first time from any part of the world. There must be more hidden issues /facts for their action.

I am surprised too, I have the receipt of payment which I made last month, my due date was 5th of every month and they took my car on the 12 of this month - Strange

You should file an official complain with the bank, asking for immediate return back of the car and demanding explanation.

They have no right to take your car away without notifying you. Take all proof of payment and complain to following:-
a) ministry of commerce and industry
b) Police

My Office recommends me the same I don't want any hassles henceforth I was looking for an easy way and other options before lodging a complain against the Bank.

If you are not going to take some legal action now, I will not be surprised if you will face worse situation later on.

You have to understand, that the car wasn't given to you free or with favors to you. It's business and they are getting profit over the money they paid to /for you.

Let me assume that you have a bubble payment that is equal to your one year of installment. So considering that you have 72 months of equal payments to return back the loan with profit and you have already paid 59 months of payment at the time your car was taken. It means that they have taken one asset of which you are financially owner of 82%.

Imran Khan143 wrote:

My Office recommends me the same I don't want any hassles henceforth I was looking for an easy way and other options before lodging a complain against the Bank.

Judging from your profile picture, I believe you have enough experience to know that there is no easy way to get things back. Specially for something taken away from you.

Thanks for the advise folks !!

my car installments end last june and I have to pay my last payment only,but before end I went to bank and sutbmit all documents to pay final payment by another year. but they couldn't finish my documents. its take long time time to process. and august my iqama expired but I couldn't renew my iqama until my fMily leave the country. because I made exit for my family in July.so Bank called me twice n said try to renew my iqama.i said them because of airport  closed they can't leave the country. . now its.pending almost 3 month  my last payment. still car is with me. because I hav explained them my situation.

Hello Naizer23,

Welcome to Expat.com 

Thank you for sharing your experience with us.

Do you have any questions that you would like to ask? Are you looking for specific information?

I will invite you to post a new topic on the Riyadh forum and ask your questions as this thread is quite old.

Best luck,

Cheryl
Expat.com team.