Car installment companies ignore “Simah” negative reports about their customers to get out of the recession
Car installment companies ignore “Simah” negative reports about their customers to get out of the recession
Car installment companies ignore “Simah” negative reports about their customers to get out of the recession
Some car sales companies in installments decided to ignore the negative reports of customers of the Saudi Credit Information Company “Simah”; In order to give them the opportunity to buy, in light of the recession in the market.
For his part, Saeed Al Bassami, Vice-Chairman of the National Land Transport Committee at the Council of Saudi Chambers, explained, according to Al-Youm newspaper, that SIMAH records all cases of individuals failing to pay installments, including small amounts, which prompted some companies to take this step to attract buyers and activate their sales.
While the banking economist, Fadl Al-Buainain, indicated that “SIMAH”, although it constitutes the only source of reliable credit information, remains a source of information without interfering in the quality of the decision taken by financing companies, including car installment companies.
