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Has anyone got their car leased from Arab National Bank (ANB)?

Has anyone got their car leased from Arab National Bank (ANB)?

Yes, i leased my car from ANB back in 2009 for 3 years. Just got done with the final payments and all. Let me know if you want to ask something

I leased a car from them in Dec 2012. Just wanted to know what is the process if I want to change my car. Want to upgrade.

I have an Accord 2012 at the moment.

Hi,
The possibilities of getting out of a leasing agreement are either you pay all the remainder amount in one go or you give your vehicle under an NOC to someone and make him pay the remainder installments. The contract will still be in your name in the later scenario and therefore the first one is the only valid option.
Exiting the contract also depends on your contract, i was advised to specially ask for putting in a clause that if desired i will be able to exit the contract by making a balloon payment of the remainder amount whenever intended.

If your contract doesn't have the provision then you are tied up with the bank for a certain duration of time (1 year probably) or a certain mileage (20,000Km) before you are allowed to pay your due amount lump sump.

pkmusd wrote:

I leased a car from them in Dec 2012. ...

Oh yes, and you can time-travel :lol:

Jokes apart, even I'm planning to buy a car. So any information here, is going to be useful. :)

thansk MYRK for usefull info.
looks like I am gonna get my contract read from saudi friend. its a 20 pager contract.. see if he can find something usefull.

How can you sign a contract consisting of 20 pages without having to get it translated in english or read by any saudi mate first? :unsure

pkmusd wrote:

thansk MYRK for usefull info.
looks like I am gonna get my contract read from saudi friend. its a 20 pager contract.. see if he can find something usefull.

adnanhashmi wrote:

How can you sign a contract consisting of 20 pages without having to get it translated in english or read by any saudi mate first? :unsure

pkmusd wrote:

thansk MYRK for usefull info.
looks like I am gonna get my contract read from saudi friend. its a 20 pager contract.. see if he can find something usefull.

Hi Adnan,
At that time I was only thinking to get car asap.
I remember, the showroom guy told me that if you want to settle you have to pay the bank 5% of total interest amt bank is expecting from you in 5 years. But just wanted to conf that from someone who has done such thing.

Dear Friend.

I leased hyundai CAR from ANB. Annual insurance is covered in the contract, how can I renew my insurance as it already is expired. I need the site location in Riyadh. (GPS Coordinates are proffered)

Many thanks for your support.

Can a foreigner own more than 2 cars?

about this, weve checked online about buying a car.
whats the "final payment" and how does this work?
if youve paid the full amount due for the car, why are these charges due from you?

taan87 wrote:

Can a foreigner own more than 2 cars?

No. Max 2 per Maroor (Traffic police) rules. So, whenever you plan to buy a new car, you may be asked to provide a report from Maroor stating the number of cars registered on your iqama.

But I believe they are not very stringent about it. I lately got a feeling that this process of theirs was not fool-proof.

javedakhter wrote:

Dear Friend.

I leased hyundai CAR from ANB. Annual insurance is covered in the contract, how can I renew my insurance as it already is expired. I need the site location in Riyadh. (GPS Coordinates are proffered)

Many thanks for your support.

Almost all banks have special customer care centers to deal in such stuff. They are called Car Financing Department (Idara Tamweel Sayyaraat). You've to check with any ANB branch.

Needless to mention, your insurance charges are covered in your financing plan. You don't have to pay anything. Just visit them and ask them to provide renewed insurance card accompanied with the summary cover letter.

Princess MA wrote:

about this, weve checked online about buying a car.
whats the "final payment" and how does this work?
if youve paid the full amount due for the car, why are these charges due from you?

Usually the car finance plan payments are broken down in 3 kinds of shots:

1- Down Payment
2- Monthly Installments
3- Balloon Payment (Last Payment)

1 & 3 are optional and depends on your contract with them. If you do have it documented in the payment plan, you've to pay it at the completion of your contract and then only they'll transfer the car to your iqama. They don't transfer automatically, you have to visit them and request to initiate the process of trsnsfer (called Naqal Malikia in Arabic)

Hi,

can somebody recommend a good leasing option in terms of easy down payment and lowest interest rate?...further which is best car for travelling in riyadh (travelling intended to Bahrain, Mecca, Madina etc)

TheLegendLeads wrote:
javedakhter wrote:

Dear Friend.

I leased hyundai CAR from ANB. Annual insurance is covered in the contract, how can I renew my insurance as it already is expired. I need the site location in Riyadh. (GPS Coordinates are proffered)

Many thanks for your support.

Almost all banks have special customer care centers to deal in such stuff. They are called Car Financing Department (Idara Tamweel Sayyaraat). You've to check with any ANB branch.

Needless to mention, your insurance charges are covered in your financing plan. You don't have to pay anything. Just visit them and ask them to provide renewed insurance card accompanied with the summary cover letter.

There is a ANB dedicated Auto Loans office on Olaya (opp Saudi Hollandi Bank atm b/w Arouba and Moosa Bin Naseer.

Dear Reader,

I have taken Honda accord 2012 on monthly lease from Arab National Bank for 5 years, and I am now planning to leave Saudi Arabia. I need to know if I can give back the car to the bank and what is the procedure for it and how much do I have to pay?

Regards,
expate30

Please check with the ANB car financing office in Jeddah.

They usually don't take the cars back ... what would they do of the car? It's none of their business.

- You have to transfer the lease to someone else.
or
- Pay them the balance and get the car in your name. Then sell it to someone.

Your best bet would be to check with them directly.

TheLegendLeads wrote:

Please check with the ANB car financing office in Jeddah.

They usually don't take the cars back ... what would they do of the car? It's none of their business.

- You have to transfer the lease to someone else.
or
- Pay them the balance and get the car in your name. Then sell it to someone.

Your best bet would be to check with them directly.

I don't think they let you transfer the lease. Only option is you pay the due amount to ANB, get it in your name and then sell it to someone. If you have the buyer already then at the time of paying to the bank, you can ask bank to directly transfer to that persons name to save cost.

[moderated: off topic + avoid posting your phone number + no free ads on the forum pls]

Hi,
I found the information available here to be helpful.
Could someone inform me the processing time to transfer the ownership of car after full payment?
Naql Mallakia was issued last week and I am still waiting for new istemara from ANB.

Thanks

Hi  I want to get a car from anb lease

jamal swati wrote:

Hi  I want to get a car from anb lease

Just call them. I believe one if their sales agent would call and visit you.

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