I WANT TO PURCHASE A CAR FROM A PERSON WHO HAV ALREADY PURCHASED THROUGH BANK...HIS ACCOUNT IS IN COMMERCIAL BANK ANDMY ACCOUNT IS IN HSBC....CCAN THE LOAN B TRANSFERRED??WAT WIL BE THE RATE OF INTEREST??
there is nothing called car loan transferr and unfortunetly 99.99 % of QL USERS does not know that!
the first rule: bank will never buy a car from another bank ,meaning :
1- get a quotation from a used car showrooms for the car you want.
2- bank will approve
3- the car showroom will pay the cash to the car owner bank and settle the loan.(the showroom will buy it for you temporarly ,after your bank approval of course)
4- your bank will pay the used car showroom the amount quoted in quotation.
and finally you are done
it happend to me 2 times and this is the process.
the showroom will charge 2000 riyals for quotation since they will be buying the car in cash from the owner bank then will get his money from your bank.(the car showroom is investing his paid money to the former bank for 1 week and the 2000 are the interrest
Becareful, because a personal loan has a very high interest rate. I think HSBC are giving 9.5 or 10% interest rate, but you can get a car loan from other banks for half that percentage.
You cannot transfer the car loan, but what can be done is that you apply for a personnal loan with HSBC for the same amount of the car loan and payoff the CBQ car loan.
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hi
there is nothing called car loan transferr and unfortunetly 99.99 % of QL USERS does not know that!
the first rule: bank will never buy a car from another bank ,meaning :
1- get a quotation from a used car showrooms for the car you want.
2- bank will approve
3- the car showroom will pay the cash to the car owner bank and settle the loan.(the showroom will buy it for you temporarly ,after your bank approval of course)
4- your bank will pay the used car showroom the amount quoted in quotation.
and finally you are done
it happend to me 2 times and this is the process.
the showroom will charge 2000 riyals for quotation since they will be buying the car in cash from the owner bank then will get his money from your bank.(the car showroom is investing his paid money to the former bank for 1 week and the 2000 are the interrest
good luck
Becareful, because a personal loan has a very high interest rate. I think HSBC are giving 9.5 or 10% interest rate, but you can get a car loan from other banks for half that percentage.
You cannot transfer the car loan, but what can be done is that you apply for a personnal loan with HSBC for the same amount of the car loan and payoff the CBQ car loan.
interest would be given by the HSBC.