Question About Car Loan
If I get a car loan from the bank and after few month if I can't pay the loan for some reason, What will be the bank action???
Reason can be, the company (where I work) doesn't want me to work anymore and I will not have Money to pay back.
Pls, If anybody got the idea, can you share it.
Transfer the loan to your friends who's needing and willing to continue the car loan.
Follow the rules and you 'll be fine...
Timebandit, maybe this guy already took a loan and bought a car and now his job might be at stake and he is enquiring of the worst scenario. Early morning think positive guys!
and get yourself a no entry ban all over GCC.
Or just do like they did in Dubai...leave the car at the airport and go......i can see TB giving me the blank stare of death :)
You are considering borrowing money, and you think there is a high chance you are going to lose your job. And you want to know what the banks can do to get their money back. It's early in the morning and I am a bit grumpy, but seriously what kind of person are you? Where are your morals? If you think you won't be able to pay it back…. DON’T BORROW IT!
..bank will activate their recovery procedures including travel ban, police case etc. and you will not be able to go out of the country until loan settled. If car loan, they will take possession of the car and sell it; yet, you will have to pay the difference if any, between the sale proceeds and your loan outstanding..