Hello,
I would like to seek the advise of my expat friends and experts,
I have leased a Hyundai Azera car from a company which Subsidiary of Naghi Automobiles in 2014 and have paid regularly for almost 3 years now, I am trying to transfer the lease of the car to other people, however, the stated leasing company is not giving an standard procedure to transfer the car and changing their statements frequently, due to this I lost 2 potential buyers now who were ready and submitted their documents.
as well after Ramadan, I had a potential buyers too but this company's transfer process was closed for 2 months and i lost those buyers earlier too, as well, I again started process 2 months back and have been facing immense difficulties as well.
Also, not showing a simple process to accept the car back, also, quoting very high price for cash settlement.
Now I am fed-up, I do not want to pay anymore, so, If i discontinue the paying the installments and park the car in front of their office, what will be the consequences I have to go through.
I shall be grateful to know the consequences and my rights in this scenario.
What are the consequences of unpaid car loan in Saudi Arabia?
Leased car remain under your Iqama and responsibility. For example, if someone steals it and commit a crime, you'll be the one in trouble. You can't get out of the country on final exit if this car remains in your name. Parking away is not a solution.
Rather than looking for transferring the lease, I'd suggest you to go for settling in cash. Consider paying and getting rid of them in one shot.
About your rights, they are outlined on SAMA website: http://www.sama.gov.sa/en-US/Laws/Pages … tions.aspx
You can post a complaint on their social media. But I doubt it will be of any good use as they look like a small and not-so-famous company.
I appreciate your reply and advise, I will file a complaint on their social media website then,
Besides FYI, this company is not small they are the subsidiary of Mohammed Yousef Naghi Auto.. who is the dealer for BMW, Jaguar, Range Rover , Rolls Royce, Hyundai, etc. and this leasing company provide loan to all these brands.
I will keep posted of the outcome on this thread and look forward for any more professional advises as well.
Hi,
Sorry to know about your case, have you reported them directly to Naghi Autos?
Hello,
Unfortunately, I haven't reported directly to Naghi motors yet as I have moved to Riyadh in late 2015, the leasing agency have a office here in Riyadh but Naghi Hyundai doesn't , nevertheless, I am in process of making an written complaint to both (Naghi & Leasing company) through an email for my records, and still if the issue prolongs in circle then I might take it to the next level.
TheLegendLeads wrote:Leased car remain under your Iqama and responsibility. For example, if someone steals it and commit a crime, you'll be the one in trouble. You can't get out of the country on final exit if this car remains in your name. Parking away is not a solution.
Rather than looking for transferring the lease, I'd suggest you to go for settling in cash. Consider paying and getting rid of them in one shot.
About your rights, they are outlined on SAMA website: http://www.sama.gov.sa/en-US/Laws/Pages … tions.aspx
You can post a complaint on their social media. But I doubt it will be of any good use as they look like a small and not-so-famous company.
What about reporting to ministry of commerce/trade?
hamudi wrote:What about reporting to ministry of commerce/trade?
That's, of course, a good idea. The link I shared above (http://www.sama.gov.sa/en-US/Laws/Pages … tions.aspx), the first PDF covers consumers rights and complaint framework (section 14).
I have seen SAMA complaints system working very well. But they don't offer complaint registration service other than for banks and insurance companies. The next option must be ministry of trade. Here is there complaint form:
http://mci.gov.sa/en/ContactUs/Pages/support.aspx
Must be filled in Arabic imo.
Thank you, Yes Indeed on Sama their wasn't an option available to select from the drop-down list for other financial institutions than banks and insurance companies.
I really appreciate all the support and advises.
TheLegendLeads wrote:hamudi wrote:What about reporting to ministry of commerce/trade?
That's, of course, a good idea. The link I shared above (http://www.sama.gov.sa/en-US/Laws/Pages … tions.aspx), the first PDF covers consumers rights and complaint framework (section 14).
I have seen SAMA complaints system working very well. But they don't offer complaint registration service other than for banks and insurance companies. The next option must be ministry of trade. Here is there complaint form:
http://mci.gov.sa/en/ContactUs/Pages/support.aspx
Must be filled in Arabic imo.
oh ok, saw sama link and got mixed up...
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