Does anyone have anything positive to say about EK?
Join Date: Jun 2008
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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?
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.
Join Date: Sep 2013
Location: UK
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It can be done with a personal loan, but the regs say only one car loan for a car because of the legal issues if you default on a loan - if you have two loans on one item, then it becomes very muddy who then owns it.
The company car loan is the best rate, but you won't get much for it, and a lot of people buy new because checking the service and accident history is not as easy, the heat and dust degrade cars quickly and a lot of cars are abused or neglected. Most of the garage staff are shockingly bad at their jobs; there's no way I'd trust them with any significant repairs.
The company car loan is the best rate, but you won't get much for it, and a lot of people buy new because checking the service and accident history is not as easy, the heat and dust degrade cars quickly and a lot of cars are abused or neglected. Most of the garage staff are shockingly bad at their jobs; there's no way I'd trust them with any significant repairs.
Join Date: Aug 2006
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And be careful of a "certified" used car from a dealer. Have a friend who did that and found out later the car had been severely damaged in an accident. When getting new tyres, he was asked when the car was damaged, due to the fact they couldn't align the steering because the frame was bent. This was from a big dealership.