Finding better option to buy SUV

Hi everyone, it's a great blog indeed. Thanks to all for making it happy family. :)

Introduction:

Recently I joined a company in Riyadh (big name in power sector) as an engineer. Previously I have also worked with another giant in KSA. This time I need a decent vehicle to move on weekly basis to locations with 100km range. I shall relocate to Dammam soon. Most of my colleagues have accounts in SABB and Hollandi (company doesn't have any problem with transferring salary I see).

I have two options, like:

Car financing. This is actively available because 80%+ of my company employees have this option (via bank or like Abdul Latif Jameel)
Personal loan to buy second hand car (I can get enough salaries from hollandi as suggested by colleague more better option)

Also, I am more interested in buying SUV than sedan.

So keeping above input, which option should I go with? Also, any advise on buying SUV?

Thank you for your time and response!
D.

Better go for second-hand car option with financing as if you lease a car and want to discontinue earlier then they charge you more money although not mentioned anywhere on the  agreement. On top agreement is only in arabic language thus expats are helpless.

LegalEagle787 wrote:

Better go for second-hand car option with financing as if you lease a car and want to discontinue earlier then they charge you more money although not mentioned anywhere on the  agreement. On top agreement is only in arabic language thus expats are helpless.


I however then need to study this option (personal loan to buy on cash) further or may be you could explain it.

Thanks.

theek hai i think he meant to say, you take a personal bank loan of 300,000 riyals.  Then use part of that money to buy a brand new car (Mercedes Benz or BMW SUV, Landcruiser) or a used-car (sedan honda, nissan, mazda). 

SUV requirements are - you will show to the car dealer copies of iqama of your wife, children and yours. If you don't have family, settle for a sedan like BMW 740, Dodge charger, Ford Mustang etc.

Thanks Mannyd!

mannyd wrote:

theek hai i think he meant to say, you take a personal bank loan of 300,000 riyals.  Then use part of that money to buy a brand new car (Mercedes Benz or BMW SUV, Landcruiser) or a used-car (sedan honda, nissan, mazda). 

SUV requirements are - you will show to the car dealer copies of iqama of your wife, children and yours. If you don't have family, settle for a sedan like BMW 740, Dodge charger, Ford Mustang etc.


Soo you are not allowed to buy an SUV if you are single? :/

jclereno87 wrote:

...
Soo you are not allowed to buy an SUV if you are single? :/


Last Thursday evening, I was in Honda shop inquiring about the CRV. They have Ramadan promo now.
One of the requirement asked from me is iqama copies of wife and children, which I don't have.
Most dealers will ask for these when registering in Muroor. As per their long experience dealing with Traffic Police and SUV customers, singles/bachelors can not get SUV.

But maybe you can try your luck. If you are bachelor and able to get SUV (jeep as the locals call these type of vehicles), do let us know.

Thanks Mannyd, yes I have also heard about such issue while purchasing SUVs. However I don't think it's a legal issue but rather local standard. Also, could you please tell us any ramadan offers while purchasing vehicles?

Just visit any shops and ask if they have Ramadan promo for cars.