Lease Transfer Procedure of Al Yusr Installment Co.
Al Yusr Lease Transfer Procedure
You can transfer your car lease with Al Yusr Installment co. to another person on following conditions,
- Lease has been in effect and paid for at least 6 monthly installments
- The applicant must be working for at least 6 months under one company
- The applicant must have a salary of not less than SR 5,000
Once the both parties (Current lessee and new applicant) are agreed, both of you can visit the Al Yusr office along with the following documents: How to Apply for Drivers License in Saudi Arabia
Note: Filipino Nationals should register online with their home country address and Id number. This online process is for a background investigation in the Philippines. The approval will come within two working days. The transfer would only be processed once the online application is approved.
- Original Certificate of Employment stating date of employment, job title and salary, certified by the Chamber of Commerce
- Original and Copy of Valid Iqama
- Copy of Valid Drivers License
- Copies of the Valid Passport
- House contract. If the house contract is not under the name of the person applying for the transfer, a photocopy of the Iqama of the person whose name appears in the house contract is needed.
- Bank statement for the last three months.
- Copy of the Istimara of the vehicle (to be provided by the present lessee)
- Copy of the National Address Registration
- Copy of the National ID of Home Country
Procedure of Al Yusr Lease Transfer
Once you reached at Al yusr, get a token from the counter and wait for your number. They will check the applicant’s documents, and ask to fill-up the required forms. Also the applicant will have to draw his work and home location: Driving License Fee in Saudi Arabia
There will be a application fee of SR 52.50. (SR 225 for Filipino Nationals). It should be paid under the current lessee’s Iqama number.
Pay the fee at the cash counter and attach a copy of payment receipt with your application and submit over there.
It will take 5-10 working days to get processed the Application. Meantime Al yusr will call the applicant for verification and also they will visit his work location.
Once the application is approved, the applicant will receive a confirmation SMS (SMS may be delayed, keep checking with their office for updates)
Advance payment and Fee
Alyusr normally asks two Installments as Advance and SR 1200 as transfer fee. (If any previous installments are pending, they may ask more). The advance payment they will deduct from the last payment amount.
Once the above fee is paid, both parties will have to sign a couple of agreements, then, the next working day the transfer will be done.
Once transfer is done, both parries will get a confirmation message from Muroor, then the lessee can hand over the vehicle. The Al yusr will issue a new driver’s authorization letter and insurance certificate for new lessee.