Car loan

What do you mean by private financing company?

As far as car loans are concerned, many banks offer these products.  The rates vary a bit across the spectrum with local banks generally being on the cheaper side.  Personally, I always find car loans to have some hassle vs. personal loans (more expensive but you can sell your car should you want to).

Thanks XTang , inoman there were other financing companies other than bank which were little expensive but didn't have hidden charges, compulsory insurance, processing fees and ofcourse lot of formalities. I had bitter experience with bank.later I realised in the end both were equally expensive but other had non hassels. Wanted to know are there such companies in Bahrain.

There aren't any which are structured independent from banks.  At the back end, it is a bank or similar retail finance institution which provides the lending.

Car loans come with the standard hypo on the documents i.e. meaning you can't sell the car and once you pay off the loan, you have to follow process to transfer the car in your name / remove hypo.

My preference has always been to not use car loan, utilize p.loan and use it to buy a car and pay it off in 2 years (Costs 2-3 pts more).  The interest cost is negligible within a short time period and you are not stuck with any restrictions or hassle. Plus it is much faster in terms of approval as well as for the actual purchase.

Thanks XTang , it's much clearer now. Thanks for the help.

Is there a wait time before a expat would be eligible for a loan to purchase as auto.