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Car Loan From ANB- Final Payment Due - Car Taken by ANB

Imran Khan143
#1
Hi All,

I have taken Renault Flueance back in 2012 from Gulf Advantage Riyadh聽 through ANB Car Leasing Finance, I have cleared all my payments in the last 5 years only final payment was due (overdue for 7/8 Days) car has been taken by ANB Recovery and collections department聽 without informing or giving any official notification.

When approached ANB Collections Office at Olaya Road branch they asked me to apply for a loan for the remaining Final balance, When I did that they have sent me aa sms message stating application awaits approval which will take approx. 10 business days or more

My car is under their possession and they refused to return until they have a conclusion or approval from their management.
Please advise what could be the best solution to obtain the car and what's the process for such an issue.
See also
skhurram007
#2
7-8 days delay on final payment only and the car got picked up by recovery team???

That's really strange. Have heard this for the first time from any part of the world. There must be more hidden issues /facts for their action.

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Imran Khan143
#3
I am surprised too, I have the receipt of payment which I made last month, my due date was 5th of every month and they took my car on the 12 of this month - Strange
skhurram007
#4
You should file an official complain with the bank, asking for immediate return back of the car and demanding explanation.
Ehtesham
#5
They have no right to take your car away without notifying you. Take all proof of payment and complain to following:-
a) ministry of commerce and industry
b) Police
Imran Khan143
#6
My Office recommends me the same I don't want any hassles henceforth I was looking for an easy way and other options before lodging a complain against the Bank.
skhurram007
#7
If you are not going to take some legal action now, I will not be surprised if you will face worse situation later on.

You have to understand, that the car wasn't given to you free or with favors to you. It's business and they are getting profit over the money they paid to /for you.

Let me assume that you have a bubble payment that is equal to your one year of installment. So considering that you have 72 months of equal payments to return back the loan with profit and you have already paid 59 months of payment at the time your car was taken. It means that they have taken one asset of which you are financially owner of 82%.
1 member reacted to this post
Ehtesham
#8

Imran Khan143 wrote:

My Office recommends me the same I don't want any hassles henceforth I was looking for an easy way and other options before lodging a complain against the Bank.


Judging from your profile picture, I believe you have enough experience to know that there is no easy way to get things back. Specially for something taken away from you.

1 member reacted to this post
Imran Khan143
#9
Thanks for the advise folks !!
Naizer23
#10
my car installments end last june and I have to pay my last payment only,but before end I went to bank and sutbmit all documents to pay final payment by another year. but they couldn't finish my documents. its take long time time to process. and august my iqama expired but I couldn't renew my iqama until my fMily leave the country. because I made exit for my family in July.so Bank called me twice n said try to renew my iqama.i said them because of airport聽 closed they can't leave the country. . now its.pending almost 3 month聽 my last payment. still car is with me. because I hav explained them my situation.
Cheryl
#11
Hello Naizer23,

Welcome to 大咖福利影院聽 :cheers:

Thank you for sharing your experience with us.

Do you have any questions that you would like to ask? Are you looking for specific information?

I will invite you to post a new topic on the Riyadh forum and ask your questions as this thread is quite old.

Best luck,

Cheryl
大咖福利影院 team.
1 member reacted to this post

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