Emirates NBD launches solution for buying used cars – ZAWYA

Emirates NBD launches solution for buying used cars – ZAWYA

Emirates NBD , a leading banking group in the region, has launched Autoswap, a first-of-its-kind auto loan buyout product that provides a convenient and hassle-free financing solution for individuals seeking to buy used cars.. Launched in partnership with dubizzle, the leading classifieds platform in the UAE, the Autoswap solution will enable car owners looking to sell their vehicles to complete the transaction without having to settle their existing loans.. While the second-hand market makes car ownership more accessible, many sellers have an outstanding loan on their current vehicle that has to be cleared before the transfer of ownership can take place.. Dubizzle estimates that one in four customers find it difficult to settle their outstanding loans leading to inability to make the sale.. It conveniently allows a car to be sold through dubizzle pro at its current market value and Emirates NBD will clear the existing loan..