xty
I don't know if it has been discussed. As we all know that many people have no choice than to flee out of the country because they didn't want to go to jail and couldn't pay the installment of cars/properties when they were laid off.
If there were mechanism about "financing transfer" from one person (the seller) to the other person (the buyer) through the same bank/financing institution, the impact could be minimized. I don't know (or at least I never heard) why there's no such procedure here in Dubai. We have to pay in full first (which most of the time is impossible) & get clearance letter from the bank in order to sell the car/property to other.
It works in some other countries.
sage & onion
- xty wrote:
I don't know if it has been discussed. As we all know that many people have no choice than to flee out of the country because they didn't want to go to jail and couldn't pay the installment of cars/properties when they were laid off.
If there were mechanism about "financing transfer" from one person (the seller) to the other person (the buyer) through the same bank/financing institution, the impact could be minimized. I don't know (or at least I never heard) why there's no such procedure here in Dubai. We have to pay in full first (which most of the time is impossible) & get clearance letter from the bank in order to sell the car/property to other.
It works in some other countries.
I am sure their must be a way to do what you suggest.