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ANB car transfer requirement

hello.. my final payment for my car lease is due by the end of this month. what would be the proper procedure for the transfer of ownership of my leased car from the bank.. i need to know what are the documents required and how long it will take.. thanks!

anybody here who finished his car loan payment thru ANB? :/

I did in March. You need make the last payment online. Then go to the bank. They will issue you a certificate and a letter for insurance. Next step, buy insurance. Go for a FAHAS or motor vehicle inspection certificate. Take all of that and copies of your iqama, passport to the bank. They take upto two weeks to process your new istimara. But it is a two day job really.

thank you for your swift response.  how about the the authorization to drive? mine will expire soon.. if it will take two weeks then i will be driving with expired authorization? is it ok to settle the final amount then arrange for the transfer later on..(i was recently transferred in the province and i find no time to personally go to bank to arrange for the transfer) any suggestion is very much appreciated  :)

Your authorization will stay valid until the validity date. You can request for a new authorization until you clear the balloon payment. Btw, Balloon payment has a due date too.

the expiration will fall almost the same date as my final due..(end of this month) i hope the bank allow me to extend the authorization since i dont have time yet to go personally to process it. hmm i wonder if they will allow other person to do the transfer process.

ANB's policy is strange..i asked them if i can settle the last payment in advance but they declined.. they told me that i need to pay additional sar 2000 because it will break the contract?? i explained to them that my insurance will expire sooner before they can provide me the certificate to apply for new insurance.. i got my fahas done already and just waiting for the last payment due online,, ..and by the way, applying for the renewal of authorization is not free anymore..

I am not sure but I guess if you finishes early then even if you are not willing, legally you might be able to claim reduction in amount because of paying earlier than scheduled as the percentage should be reduced. That's why they are not willing.

my payment agreement for my car is 2 years..so i was expecting that my insurance (malath) which is in tied up with ANB will expire at the same time. the other day i was surprise when malath notified me that my insurance was renewed again for one year.. a day before i paid my last payment for car..now im confused..  :unsure

Hello i have a car on lease at ANB and im going for final exit. I found a friend who paid my remaining balance as cash and we submitted all the requirements for transfer. But its almost 2 weeks now and when i.checked my absher the car is still under my co-ownership. Can i go.for final exit?

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