Used vehicle - no outstanding loan?
Hi Everyone
So I'm think of buying a used vehicle (private sale), but was wondering how you would verify that the seller has no outstanding vehicle or personal loan left which is due on the vehicle?
ie - you get a great price for X QAR, but how do you you know the seller (current owner) still does not owe ABC XX QAR for the vehicle he/she is selling?
Any tips?
Thanks for the comments everyone, very much appreciated!
Yes, the owner can't sell a vehicle if it still has a loan - it will be rejected at the traffic department.
Era, Leave this deal. If you don't trust the fellow, leave this deal. Buy used car from the senior staff of your company or from a good / old neighbour. You will benefit in more ways than one .................
As far as I know, if the vehicle has been purchased against a bank loan, the owner cannot sell it out as documents of the vehicle are with the bank and the owner will need to get hold of them by clearing his loan first. On the other hand, if the seller has the documents, sells the car to you and the Isthimara gets transferred to your name, you should not worry if the person carries a loan on the vehicle or the vehicle was carjacked.