Obtaining Credit

Post new topic

deanb1982 Active member

Member since 15 May 2016

deanb1982Active member03 October 2016 18:04:16

Soon I will return to KSA to start my new 2 year contract.

I want to get a car, how does the finance work? Is it based on my credit in the UK or do KSA have separate system?

TheLegendLeads ViP

Member since 06 April 2010

"The cure for boredom is curiosity. There is no cure for curiosity." -- Dorothy Parker

TheLegendLeadsViP04 October 2016 06:27:29

5763

KSA has totally different systems. Your UK history won't count but with a clean-sheet history, they'll definitely let you have loan/lease.

deanb1982 Active member

Member since 15 May 2016

deanb1982Active member04 October 2016 07:23:35

Thanks

Emilio Largo Member

Member since 09 March 2014

Emilio LargoMember11 October 2016 16:33:59

I know how Saudi credit works. The idea is to take customer service, and turn it into a means of demeaning and humiliating customers. After all, you are in Saudi Arabia the employer of last resort.
Take my example. I applied for a credit card well over 5 months ago. I turned in an application, copy of my iqama, and salary certificate. I even provided them with a copy of my renewed iqama. I went on vacation in June and months wnet by.
In Sept. I followed up, and they lost the copy of my iqama and they asked me to bring another one. 2 weeks go by. Then they asked me why I was not paid for July and Aug. (well, it's because I'm a teacher!) They asked me to bring in a letter from my employer explaining why I had no salary in those months. (mind you, this is Saudi Investment Bank which is one of the "best" banks) They had no clue why education companies do not pay in July & August. I turned in their paperwork and I am done with the application. Credit cards used to be easy before oil went to $40 per barrel. now they are tighter than used camel dealers.

Articles to help you in your expat project in Khobar

Opening a bank account in Saudi Arabia
One of the first and most important tasks for expats in Saudi Arabia is to get their bank accounts open and ...
Banking in KSA
My personal experience recommends that the foreign banks are far better and easier to deal with in terms of ...
Accommodation in Khobar
Khobar is the metropolitan city of the Eastern Province. It is widely recognized as the happy medium between ...
Working in Khobar
Al-Khobar is the dynamic metropolitan city of the Eastern Province. Along with Dammam and Dhahran, the cities form ...
Everything you need to know as an expat woman in Saudi Arabia
Saudi Arabia can be a challenging destination for women. As a strict Islamic country, Saudi Arabia imposes a lot ...
Getting married in Saudi Arabia
Saudi Arabia is a country that holds marriage and family as one of its core values. It is a privilege to get ...
Driving in Saudi Arabia
Driving in Saudi Arabia is the easiest and most convenient way to get around. That being said, expats in Saudi ...
Accommodation in Dammam
Dammam is the capital city of the Eastern Province, which is made up of smaller cities that, together, form the ...