Tanazul (financed-car takeover): bank approval first, then everything transfers
Tanazul is transferring an existing car loan from the current borrower to a buyer who takes over the installments. The only valid route runs through the lender itself: the bank credit-checks the new borrower (under the same SAMA limits — obligations capped at 33.33% of salary), and if approved the contract is rewritten in their name in a tripartite process between seller, buyer and bank.
Any "friendly" takeover outside the bank — private papers plus handing over the car — has no legal effect: the car stays mortgaged and registered in the seller's name, who remains liable for the installments and fines. When a proper tanazul completes, the comprehensive-insurance requirement also moves to the new borrower for the remaining loan term. The alternative: the seller settles early (fee capped at 3 months' profit on the declining balance) and then sells the car normally.
Steps
- Start with the lender: file a tanazul request at the financing bank — there is no valid takeover without its approval.
- The bank credit-checks the new borrower under the same SAMA limits (monthly obligations capped at 33.33% of salary).
- Before agreeing: run the numbers in the tanazul calculator — the remaining installments plus any premium, versus buying the same car at market price or financing it new.
- On approval: the contract is rewritten in the new borrower's name in a tripartite process (seller, buyer, bank), with any side payments documented in writing.
- The new borrower arranges insurance: comprehensive cover in their own name for the remaining loan term (the bank's usual condition).
- Hand over the car only after the takeover and ownership transfer complete — until then the installments and fines stay on the seller. The alternative: early settlement (capped at 3 months' profit) and a normal sale.
Fees & costs
| Item | Amount | Notes |
|---|---|---|
| Bank tanazul processing fee | Not officially published; varies by bank | Get the amount in writing from the lender first |
| The alternative: early settlement | Max 3 months' profit | On the declining balance, then a normal sale |
Common questions
Can I take over a financed car without the bank?
No — a takeover without the lender's approval has no legal effect: the car stays mortgaged in the seller's name, who remains liable for installments and fines, and ownership cannot transfer to the buyer.
What happens to the insurance in a tanazul?
The obligation moves to the new borrower, who issues comprehensive cover in their own name for the remaining loan term — the bank's usual condition on financed cars.
Which is cheaper: a tanazul or early settlement then a normal sale?
It depends on the remaining balance and the car's market price today — early-settlement fees are legally capped at 3 months' profit on the declining balance. Run both routes through the tanazul calculator before deciding.
Guidance only — the official authority is the final reference.