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Used car under bank loan...?

Used car under bank loan...?

Can one buy a used car under bank loan or must it be new to be approved by the bank?
ifran's picture
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By ifran
Fri, 29/08/2008 - 3:40am

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Enigma's picture
Enigma
 

Your can appply but the bank only consider car with less then 4 years old.

Check this thread for apply it:
http://www.qatarlivi...
Answered on Fri, 29/08/2008 - 7:44am
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binugafoor's picture
binugafoor
 

Yes, you can buy a Used/Pre-owned vehicle by taking a Vehicle Loan. The terms & conditions are different depending on the bank you would deal with. However I could advise you of the services offered by Commercial bank. They have a policy to finance Used Vehicles as long as it is not older than 3 years. Moreover the valuation should be from an Approved Used Car dealer.
The interest rate would be slightly higher as well.
Best of luck!
Answered on Fri, 29/08/2008 - 9:44am
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infinitl2008's picture
infinitl2008
 

I dont think any bank would refuse the chance to make easy money,
as long as the car is not more than 3-4 yrs old
Answered on Fri, 29/08/2008 - 10:17am
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MagicDragon's picture
MagicDragon
 

If you really want to buy the car and the bank doesn't approve a "car" loan, take a "personal" loan and buy the car.
Answered on Fri, 29/08/2008 - 12:33pm
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ifran's picture
ifran
 

Thank you all for your valuable answers. That is very kind of you.
Regards
Answered on Fri, 29/08/2008 - 5:09pm
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trineiQatar's picture
trineiQatar
 

That's not true! It's below 7 years. If it's 6 years old the loan will have to be repaid in 1 year. 5 yrs old - in 2 yrs, and so on.
Answered on Tue, 02/09/2008 - 5:42pm
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proposers's picture
proposers
 

Hi, buying a used/old car with a personal loan would be cheaper and easy. Try it out. Best of luck.
Answered on Tue, 02/09/2008 - 6:12pm
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ifran's picture
ifran
 

Thanks again!
Answered on Wed, 03/09/2008 - 6:14am
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