Selling A Car With Bank Loan

Topic locked
  • Reply
Selling a car with bank loan Oct 26, 2010
Good Morning,

Has anyone gone through the process of selling a car while owing on the original bank loan?

Does the bank even need to know that the car has been sold since they don't hold a title or something similar that would lay claim to the vehicle?

I think I will be selling my car soon which I still owe money the idea was to sell the car, then take the profit and pay off the remaining bank loan. Surely it can't be that easy and the bank will want to be paid before I can transfer ownership of the vehicle?

Thank you for sharing any experience with this.

Dubai Forums Member
User avatar
Posts: 36

  • Reply
Re: Selling A Car With Bank Loan Oct 26, 2010
You cannot transfer the car unless you can a bank clearance letter
UAE, Dubai Forums Lord of the posts
User avatar
Posts: 6258

posting in Dubai Expat Help ForumForum Rules

Return to Dubai Expat Help Forum