Are You Looking for Car Insurance for Sedan in UAE? - Buy the cheapest car insurance for Sedan in the UAE. And know the coverage, premiums, add-ons, and more.
Let us say that you bought a car that was out of your budget by taking a car loan in UAE . However, owing to some financial troubles, you are not able to repay your loan. You wish to sell your car in the UAE but the law in the UAE prohibits selling a car with outstanding finances in the UAE. If you are stuck in such a situation, this article will help you to sell your car with a loan in the UAE.
Before putting your car on sale, you should get it tested by Road and Transport Authority. They will check your car for glitches and problems and fix them (if any). Once your car passes the test, RTA will provide you with a certificate that will certify the good condition of your car. This will help you in selling your car in the UAE at a reasonable cost. RTA will charge a nominal fee of AED 120 to conduct the test. This certificate will be valid for 30 days. At the time of selling your car, the buyer will pay you the fee for the test.
You have two possible options that may allow you to get rid of that loan and sell your car:
If you are using this option to sell your car with a loan in the UAE, you require:
In case you opt for this option to sell your car in the UAE, you will need:
Caution: Power Attorney not only disperses the authority of selling the car but also gives the authority to the person with power of attorney to take other decisions regarding your car on your behalf. Be careful while transferring the power of attorney.
The buyer will need the address proof of the same Emirates proof from where they are purchasing the registered car.
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