Financing for a student??

[abthegreat]

what would be the best way to finance a BMW for a non salaried student.Can my mom who also works in dubai,finance it on my name,but she doesnt have a license yet.She has a salary transfer account with Emirate's Bank.

[Bashar M.]

i think that wont be easily possible as the financed car and insurance should be in your mother's name for the bank to approve such a loan....

And please introduce your selfin the new members section :)

[abthegreat]

So should i ask my mom to start the drivers classes and can i still drive the car or do i need a second insurance with me as the driver

[Bashar M.]

i think that you would be able to drive the car even if the insurance is in her name. As long as you are a licensed driver.

[abthegreat]

but she need's a license 100% right

issue is she is a bit scared with cars and all,she had a license in india which she never used and has made up her mind to never drive

[Bashar M.]

then ur best bit is to see what banks are able to do so and finance a car for ur mother while its on your name (since getting a license can be frustrating and time consuming)

[Bruno]

no DL = no financing
student = no fianancing...
under18= no driving at all
sorry to break your heart. but welcome anyways and do you want to buy?

[abthegreat]

As i am here 4 years for my college its called future planning
so that i can ask my mom to start now and wait till the end of the century to get the license otherwise she doesnt even wanna try.Now that its absolutely necessary i guess she has to.

and this is just a tester so that i can be prepared next year when i turn 18
no one is gonna buy me a car now:)

And my heart is still intact :P

[Ayham]

It sucks man.....Hopefully your mom will gather her courage and do it!

[akanso]

it is possible i guess, i bought recently a Honda Pilot under my name on a car bank loan and it is deducted from my salary but the car is registered under my DAD's name :)

[Bruno]

you bought a honda pilot? what for?

[akanso]

you bought a honda pilot? what for?

u saw it once, its for my parents and mine when offroading :D

[abthegreat]

what did you have to show can you please explain like what was the procedure simple or as difficult as getting a license itself.but thing is you and your dad both have licenses but my mom doesnt so will it still work

[akanso]

what did you have to show can you please explain like what was the procedure simple or as difficult as getting a license itself.but thing is you and your dad both have licenses but my mom doesnt so will it still work

since it will be registered under ur name, u r the one who needs a license, no need for ur mom to have it, the only thing ur mom has to do is the bank issues

[abthegreat]

agmc has internal financing or its through respective banks??

and thanks for the help