Guide

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RTA Finally Confirms Launch Date of Dubai's Flying Taxis

UAE Visa Amnesty Explained: What Is It and How to Apply For It

Booking Taxis in Dubai: How to Hail a Taxi Through WhatsApp

First-Ever Baseball Park in the Middle East Will Be Opening in the UAE

Smash Rooms in the UAE: Best Places to Go and Vent Out

Are "Own Visa" and Freelancer Visa Domestic Workers Legal in the UAE?

Where to See Animals in the Wild in the UAE

UAE Residents Be Wary of Food Delivery Scams

Dubai's Best Ladies Nights That Doesn't Involve Clubbing or Alcohol

Classifieds

Jobs

Dubai Announces Pilot Launch of 4-Day Work Week For Employees

UAE Job Loss Insurance Claim Rejected? Here's Why It Could Happen

How to Claim UAE Job Loss Insurance: Eligibility and Step-by-Step Guide

Dubai Ranked Among Top 5 Cities in the World to Work In

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Dubai Dedicates AED 150 Million Government Support Fund For Influencers

How to Deal With Workplace Harassment in the UAE

Reduced Ramadan Work Hours Confirmed for UAE Private Sector Workers

The UAE's New End-of-Service Programme, Explained for Residents

Events

Prophet Muhammad’s Birthday 2024: Will the UAE Get a Public Holiday?

Auditions Are Now Open for the Biggest Battle of the Bands in Dubai

These Are the UAE-Based Female Athletes Playing at the Paris Olympics

A Guide To the UAE's Union Pledge Day: What Is It and When Is It Celebrated?

List of UAE Public Holidays in 2024: Confirmed and Expected Dates

List of UAE Public Holidays in 2025: Announced and Expected Dates

Will There Be a UAE Public Holiday for the Islamic New Year?

DAZ Festival Takes Over Al Ain Zoo for 10 Days of Family Fun

9-Day Eid Public Holiday Announced for UAE Public Sector

Education

Nurturing Compassionate Leaders: 8 Ways Dibber Preschools Prepares Your Child

How to Make the Transition to University Life Easier

What Are the Benefits of Academic Scholarships in Dubai?

Dubai School Inspections Will Be Skipped for One Year

Build Your Child's Education Your Way, With King's InterHigh

How to Get Your University and College Degrees Attested in the UAE

UAE Students Cheating Can Risk a Fine of Up to AED 200,000

The Learning Garden at South View School: Cultivating Curiosity and Joy in Early Education

Why is the Early Years Stage Important for Children's Development?

Money

Meet the Emirati Woman Breaking Grounds in UAE Law: Awatif Khouri

Why Teens Need Real-World Financial Education?

UAE Residents Be Wary of Food Delivery Scams

5 Signs You've Been Scammed Over the Phone, and What to Do Next

UAE Job Loss Insurance Claim Rejected? Here's Why It Could Happen

Minimum AED 5,000 Fine for Smoking Near Children in the UAE

Are Family Members Required to Pay Their Relative's UAE Debt?

How to Anonymously Report Illegal Activities in Dubai Through Al Ameen

Being a Dubai Housewife: The Rights of Stay-At-Home Wives in the UAE

Home

Are "Own Visa" and Freelancer Visa Domestic Workers Legal in the UAE?

Hiring a Maid in the UAE: 5 Legal Red Flags

Ask a UAE Flower Shop: Your Most Common Questions, Answered

FYI Dubai is Banning All Single Use Bags From June 1

Carrefour's 'Choose Better' Programme is Here to Reward Healthier Choices With 10x the Points

Are UAE Domestic Helpers Allowed to Work on a Trial Period and Hired After?

Pet Breeding in the UAE: Is it Allowed and Where to Find Legal Pet Breeders

Choithrams Announces Launch of All-Women Operated Store in the UAE

Where to Order Same-Day Valentine's Day Flowers in the UAE

Car

Booking Taxis in Dubai: How to Hail a Taxi Through WhatsApp

What Are the Requirements For a Car Loan in Dubai?

UAE Petrol Prices Will Increase in August 2024

Head's Up! Dubai Taxi Fares Will Increase in May 2024

UAE Announces New Fuel Prices For May 2024

Missing UAE License Plates: How to Report a Lost Plate or Reclaim Yours

Authorities to Waive All Dubai Traffic Fines Incurred on April 16

A Guide to Driving in Foggy Weather in the UAE

Higher Fuel Prices Announced in the UAE for March 2024

Wellness

Dr. Kamil Al Rustom's September Offers in Dubai You'll Love

Top Tips to Have a Healthy Heart in the UAE

Cosmetic Semi-Permanent Make-up in Dubai: All About the Lips

Discover "The New You" at Zieda's Aesthetic Clinic in Dubai

Cosmetic Semi-Permanent Makeup in Dubai: Where to Go For a Natural Look

Hair Loss Due to Medication: What Causes Thinning Hair & How to Treat It

Top Ladies-Only Gyms and Fitness Centres in Dubai

Say Goodbye to Wrinkles With Mediclinic's Botox Mondays Offer

These Bodysculpting Treatments in Dubai Will Burn Fat and Build Muscle in No Time

Shop

Shopping In Dubai

Best Online Shopping Sites in Dubai and UAE

An A-Z Guide to Dubai's Popular Malls

What To Wear At The Beach In Dubai

14 Hilarious Realities of Visiting Dubai Mall

Every Day is a Discount Day on THIS Deals Site

Cityland Mall Preview: Dubai's New Nature-Inspired Shopping Mall

EWmums

EWfood

ewmoda

URGENT ADVICE- CAR LOAN

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2264

Posts

EW EXPERT

Latest post on 26 June 2017 - 09:51

YOu definitely need to go and speak to the bank directly. But the car dealer wants to give you 15,000 less because you missed ONE service? That's utterly ridiculous. It makes absolutely no financial sense for the bank to auction the car off and get virtually nothing, when they have a guaranteed buy back from the showroom. I think you need to try and get someone in a position of authority in the room with the bank as well and let them hash it out - that's the beneficial solution for both those parties.

145

Posts

EW NEWBIE

Latest post on 23 June 2017 - 14:44

Definatley go for a meet and try to get senior management involved ☺ all the best.

111

Posts

EW NEWBIE

Latest post on 13 October 2016 - 14:50

Hi Flower321, I am sorry that you have gone through this. I went through something similar myself about ten years ago and last year it resurfaced out of the blue. I suggest that you go to the Collections Department in your bank and demand a meeting with the highest management that you can get. Many banks apparently do offer discounts, don't rely on the opinions of the members of staff that are calling you on the phone, they are under pressure and some times misinformed themselves. It's very important that you don't avoid the bank, answer all their calls and show good will by turning up and trying to solve the matter but also speak in a confident manner. Don't let them intimidate you. If they see you are weak they will take advantage. That's what happened to me. While other people were getting discounts on their amounts owed I paid everything off and got slapped with an extra 11,000 AED on top in fines that came out of nowhere. I also made a fatal error of not getting a clearance letter or letter of confirmation that the entire loan was paid off and this came back to bite me almost ten years later.

6

Posts

EW NEWBIE

Latest post on 13 October 2016 - 12:54

Hello, I need some urgent advice. I have a car loan (a balloon agreement) which means that I took out a car loan for 2 years with the bank which meant that I paid monthly installments to the bank and at the end of the 2 years the car showroom would buy the car back from me so that the remaining balance for the car would be guaranteed to be paid to the bank. The bank took a security cheque for the balance in case I defaulted on any of the installment payments. Now, I lost my job and haven’t paid the installments for 4 months. The balloon agreement has now come to an end and the car showroom are giving me less for the car as I missed one service for the car. The debt collection team at the bank have been after me for months as I have also exceeded the limit on my credit card. With regards to the car, the collections team want to take the car from me and sell it at auction for any price they can get. The car showroom, due to the balloon agreement are offering me a much better price than the car would fetch at auction. The problem is that the bank won’t let me sell the car back to the showroom because: The full price has to be paid for the car – as I missed 4 installment payments and the showroom are offering me less for the car than originally agreed there is a difference of 15,000 AED. I have however asked the bank to hold me liable for this difference but they’re refused. I owe on my credit card. The bank have also said that they’ve filed a police case against me, which they’ve been saying for the past few weeks. My question is this, what is my option? I don’t want to sell the car at auction but yet the bank won’t let me sell it to the showroom. Any advice would be appreciated. Thank you.

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