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My new Cayman S ready for collection next Tuesday but...
...I will have to wait, perhaps, another two weeks thanks to the selling process in Dubai.
Here's the score. I currently have an S2000 and a Jeep Grand Cherokee that I'm selling. No option of PartEx as I guffawed at the OPC's idea of trade-in prices and have buyers for both at my asking price. There is about GBP 5k of finance left on both.
So...
Step 1: Go to a Honda dealership and get the vehicle valued - 1Hr
Step 2: Go to my bank, get a ticket and queue for about an hour for my number to come up and I get to see one of the personal banking bods. Sit down for 1 minute and be told that I need to pay AED250 at the tellers to get the letter. Get a ticket and queue for about an hour for my number to come up and pay the AED250. Get a ticket and queue for about an hour for my number to come up and I get to see the same personal banking bod. She prints off the liability letter to give to the buyers bank stating the settle amount. 3Hrs.
Step 3: Go to her bank and meet with the buyer. Get a ticket and queue for about an hour for our number to come up. Lots of faffing around, stamping this, counter signing that and we get the letter of undertaking from her bank. 1.5Hrs
Step 4: Go back to my bank. Get a ticket and queue for about an hour for our number to come up. Meet with a personal banking bod to present the undertaking letter only to find out that her bank have missed 1 digit from my ageement number and there's nothing they can do and they need a stamped and signed original. 1Hr
Step 5: Buyer called her bank and they say they have lost the liability letter from my bank so can't issue a corrected stamped and signed undertaking letter.
Ok - let's take a breather here. I, like most people nowadays, am an extremely busy person - all of the above takes place during business hours and on different days - factor in the traffic in Dubai and we can add an extra 2Hrs (at least!) to each of the above. I'm slowly losing the will to live and we're only about half way through the process - I shall continue.
So this is where we are at at the moment. The buyer is going to raise hell with her bank and get them to 'find' my bank's liability letter and start at Step 3 again.
What else do I have to look forward to?
Step 6: Both of us go to the central registration department. Probably queue for an hour or so. They re-value the car (?), I have to sign the car over to her and lots of letters get stamped and signed and we have to return to her bank with the letters - An afternoon assuming that all the paperwork is correct - chances are it won't be.
Step 7: Her bank sends my bank the finance balance and then I get the rest which may take a week...
Hmmmmmm.... efficient eh?
Had I known this in the first place I would have gone about things in a very different way - unfortunately, I'm in the process now and to get out of it would prolong things even further.
So for the Jeep I'm going to pay off the remainder of the finance in cash - after the necessary valuation and once I'm furnished with a release letter we jump straight to Step 6.
All fun and games!
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