Dr. Ajith Kumar V.V
Emirates NBD, Dubai's biggest bank, has launched Autoswap, a first-of-its-kind auto loan buyout product that provides a hassle-free financing solution for individuals seeking to buy used cars. Launched in partnership with Dubizzle, the 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. Sellers with outstanding loans can opt for this solution by using Seller Assist, a premium service offered by dubizzle pro which manages the entire selling process on behalf of the owner to help find the right buyer at the right price. 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.
Source:https://www.arabianbusiness.com/banking-finance/440560-dubai-banking-giant-dubizzle-aim-to-simplify-used-car-buying