We request the liability letter
The bank that holds the loan issues a letter stating exactly what is outstanding on the car, valid to a set date. Nothing moves before this is in hand.
Bank finance settlement, explained properly
Plenty of the used cars worth buying in Dubai still have a loan running against them. That is not a problem — an unsettled one is. Here is exactly how we clear it.
The four steps
From the bank’s name to yours
The same four steps run on every car we sell. Nothing is skipped because a buyer is in a hurry, because skipping one is how people end up with a car they cannot sell on.
The outstanding balance is settled
The amount is paid in full and receipted. This is the step most private sellers get wrong, and the one that causes problems two years later.
The bank releases its claim
A clearance letter plus the release of the mortgage recorded against the chassis. We collect it from the branch rather than waiting on a courier.
The RTA transfer is completed
The car is transferred into your name at the Al Aweer registration centre. You leave with a Mulkiya in your name and nothing pending on the car.
What you need
Bring four things, that is it
There is no long application on our side. The bank paperwork is our problem; your part of it takes about twenty minutes of signing plus one trip to the Al Aweer registration centre, which we attend with you.
Ask about a specific car- Emirates ID
Original plus one copy, for the RTA transfer. - Valid UAE driving licence
The car has to transfer to a licence holder. - Payment method
Cash, manager’s cheque or bank transfer — all fine, all receipted. - Insurance in your name
Arranged before the transfer. We can point you at a broker.
Buying elsewhere
Three things to check on any financed car
Even if you do not buy from us, do not buy a financed car without these three. They are the difference between a clean file and a two-year argument.
Never pay a settlement to a seller directly
It goes to the bank, against a letter, with a receipt. Any seller who wants the settlement in cash to their own account is a seller to walk away from.
Read the clearance before you pay the balance
The letter should name the car, the chassis number and state that the bank has no further claim. If any of those is missing, it is not finished.
Check the Mulkiya matches the car
The chassis number on the Mulkiya must match the plate on the chassis. We check this on every car before listing it, and you are welcome to check it again.
Questions
Frequently Asked Questions
Want a car checked before you commit?
Send us the plate number and the bank on WhatsApp. We will tell you what the file should look like, whether or not the car is ours.