As you know that Saudi Government has issued a rule according to which an Expat Family with less than 6 members cannot own a 7 Seater Vehicle. After the rule is implemented, the sale of 7 seater vehicle dropped significantly.
It was not a big deal for the expatriates who wanted to buy a 7-seater vehicle on cash as now they can simply not do it but what about those expatriates who had leased the cars from banks for a period of 5 years?
They are afraid that the government would not allow them to take the ownership of the vehicle at the end of the lease term. In order to provide comfort to these expatriates, we are providing here the Procedure to Transfer 7 seater leased car from bank to your name.
Mr. Khawer Shah who is an active contributor to this website has shared his experience of transferring a 7 seater vehicle from the bank name to his name at the end of the lease term.
Khawer Shah: I had bought a seven-seat car in 2015 on a lease from the bank. That time the seven-seat car rule was not there. Now my lease is over and I want to transfer the car to my name.
My bank is saying to get a confirmation from Maroor on the transfer of 7 seat car. But Maroor says we do not give any confirmation. Any suggestions what needs to be done. What makes it worst, I do not know to speak Arabic and dealing with Maroor was frustrating.
Later on, I found out a way to get this confirmation from the traffic police. You just need to visit the main traffic police station in your city with the following documents.
1-Letter from your employer for the permission to own car. Get this letter stamped by chamber of commerce. The attestation from the Chamber of Commerce certifies that the letter has been issued by an authorized person from your company.
4-Driving License copy.
5-Any other documents that your leasing company will give to transfer the car
They did not ask me any question about the number of family members I have. I think I have leased the car from the bank at the time when this rule was not implemented, so it could be one of the reasons of that.
If anyone wants to share his experience regarding the subject matter, please feel free to drop a comment below.
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