Originally Posted by
josesilvajs
So how does it work? Let's say I want to buy a car for 100.000 Dhs. The 70.000 will be discounted from my sallary and the other 30.000 I'd have to pay at once when buying it? The 70.000 loan that EK provides is not a deposit? So how one should use it when buying the car?
I think what the other poster ment was thay you cannot buy a car for 200.000, take the loan to pay 70.000 and get financing from the bank for the rest. You can however use the 70.000 to pay part of the car but you need to pay the rest in cash somehow. This is how it works:
1. You make a deal with the seller, an individual or a dealer. Write up an agreement.
2. Fill in the application form for the car loan and hand that over with the sale agreement and car evaluation report from the seller.
3. Emirates will then issue a cheque in the name of the seller.