How to Transfer Car Vehicle Ownership in Dubai
Transfer Car Vehicle Ownership
Whether you are planning to sell your old vehicle or buy a new one, you must know how to transfer car vehicle ownership in Dubai. Here are some of the steps that need to be taken for the process. Once you have bought a new car, you need to pay for the insurance. There are certain requirements for this as the old one must be terminated and the new one must get a new insurance policy. To avoid any hassles, you can clear your finances from your bank. The Emirates NBD bank offers an auto-swap financing solution. This solution is quite convenient as you do not have to worry about the loan settlement process.
Before transferring the ownership of your old vehicle to your new one, you need to get a pass report from the previous owner of your car. This process does not take a lot of time and costs only 150 Dirhams. At the registration counter, you need to remove your old number plate from your car and hand it over to the new owner. It is also necessary to get the vehicle tested for damages. If you are a resident of the UAE, you need to register your vehicle with the authorities.
You should note that the rules for car ownership transfer in Dubai vary according to the emirate. The Federal system is followed by all the emirates of the UAE, while Dubai follows its own system. This means that if you want to transfer the ownership of your car to your new buyer in Dubai, you must first unregister your current car in the emirate. Then, you must register your new vehicle in the new Emirate.
How to Transfer Car Vehicle Ownership in Dubai
Changing ownership is an essential part of buying a new car in Dubai, so you need to comply with the rules of the Roads and Transport Authority (RTA). First, you need to transfer the ownership of your old vehicle in Dubai. After transferring the ownership, you must visit an authorized center in Dubai. You must make sure you have the proper ownersnip title before you transfer the ownership of your old vehicle.
How Much Does Mulikiya Transfer Cost
You must appear in person with the seller and buyer before the registration center to complete the transfer. Both parties should sign the form transferring car vehicle ownership in Dubai. The new vehicle must be insured, the insurance policy should be in the name of the buyer, and the mortgage company must stamp the transfer sheet.
how to transfer car ownership in dubai
Finally, the buyer should pay the fines that the seller incurred before the transfer process. The registration center will verify the owner’s previous loan status. The process of transferring car vehicle ownership in Dubai is not time consuming. The process is quick and cheap, and the cost will be around 150 Dirhams. The registration center will need a copy of the owner’s identity card, a letter of authority, and the number plate of the vehicle.
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