# Loans



## nat_c (Mar 7, 2010)

I'm looking to get a loan to buy a second hand car and wanting to know the best place to get one from. I only want it for a short term so a one with no penalties for repaying early would be a bonus.

It'll only be for about 30,000 AED.

I figure a good second hand one you can pick from an expat leaving is of better value than driving a car off a forecourt and it going down in value is of more worth. I've never felt the need to buy new so feel second hand is the way forward.

I could get one through the company I work for but you have to get so many approvals and questions asked being staff I can't really be bothered! Any advice much appreciated


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## pamela0810 (Apr 5, 2010)

Personally, I think it would be best if you went in for a personal loan rather than car finance. The amount is not too big and if your company is on the qualified list, you should be able to get it approved in no time. Lots of banks have low interest rates, but if it were me, I would stick to the bank where my salary is being transferred, so that there is an automatic deduction every month.

Unfortunately, I think all of the banks here charge an early settlement fee irrespective of the amount borrowed. So don't think there is any way getting around that.

Hope the above helps.


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## nat_c (Mar 7, 2010)

pamela0810 said:


> Personally, I think it would be best if you went in for a personal loan rather than car finance. The amount is not too big and if your company is on the qualified list, you should be able to get it approved in no time. Lots of banks have low interest rates, but if it were me, I would stick to the bank where my salary is being transferred, so that there is an automatic deduction every month.
> 
> Unfortunately, I think all of the banks here charge an early settlement fee irrespective of the amount borrowed. So don't think there is any way getting around that.
> 
> Hope the above helps.


cool thanks, i had thought myself that a personal loan would be better and not sure if it's the same as home are a bit more flexible although the rates higher. I only really want to take it out over a year and would probably even put down 10k so only need to loan for 20k.

my salary gets paid to the bank i work for but as mentioned above there's so much red tape and questions asked when staff get loans so wouldprefer not to have to go to them...


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## stewart (Jun 21, 2009)

Hi Nat how is the bush you fertilised, did it die 

I went through HSBC treated me ok but miles of red tape.


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