I want to sell my car, but my loan is not yet paid off? This is a very common question that people ask because it’s not easy to sell a car with loan in UAE. Let’s discuss the available options in detail.
Dubai RTA and Banks work together.
When you buy a car that is financed by a bank, you are not really the owner of the car.Yes, the car’s registration card has your name on it, but you can only transfer that car once the loan is fully paid off. The moment you pay the loan, bank sends an electronic release message to the RTA and RTA sends a confirmation message to the customer saying all the loan on the car has been cleared. Only then you can really sell your car.
What are the options to sell my car?
It’s difficult to sell a car if you can’t clear the loan on it. So, you have very limited options. Let’s discuss available options one by one.
Friends and Family
You can sell your car to your friends and family members who can help to pay-off the outstanding amount and can wait till the bank clears your loan. The process normally takes 24 to 48 hours.
Sell Your car to us?
We at BeepUAE, helps customers to pay-off their loans. All you need to do is to book an appointment with us. Once we agree on a price, one of our agent will go with you to the bank and will pay-off your loan. The process is simple and straight forward. You can sell your car in minutes.