Many expats buy a car on lease while living in Asian country. they require to grasp if they will get a final exit visa from Asian nation while they need taken a car on lease from a bank or the other company.
What happens for leaving Saudi Arabia with unpaid loan?
Status of the car on the lease
The car on lease is really co-owned by the bank and therefore the expatriate. you’ll be able to check it from your Absher account.
Login to Absher account https://www.absher.sa/
Click on the “Authorization” option.
Select the choice “Vehicles I’m Authorized For“.
Select View: Active Co-Owned Vehicles.
If there are any cars under the co-ownership, it might be reflected here.
final exit with car leaseFinal exit with the car on lease
As the car on lease is co-owned by the bank and therefore the expat, you can’t get a final exit without removing it from your name. There are two options available.
Settle it with the bank
The easier but expensive option is to go to the bank and tell them that you just want to create a final settlement. they’ll calculate the payable amount after incorporating many hidden charges and penalties.
Once you pay money for this amount, the car on lease would be far from your Absher account and you’d be able to get a final exit visa.
Look for a buyer
The other option is to seem for a buyer of the leased car, he will transfer the car in his name and continue paying the remainder of the installments and dues. it’s an improved approach as you would possibly fire some money from the client for the installments paid by you.
Once the car on lease is transferred to some other person name, you’ll get a final exit visa.
