Top Car (Auto) Loan Banks in Dubai. New Vehicle Loan

Top Car (Auto) Loan Banks in Dubai. New Vehicle Loan
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You are confused while choosing different types of car financing schemes and bank offers for a new or used car. Different banks offer different interest rates packages and loan terms and conditions. Handling some pesky and loading paperwork, it gets even more confusing selecting which bank is better for you.

You can view the list of Top Car Loan Banks in Dubai and compare their offers. Auto financing is available up to 100% in UAE. Top car loan banks and auto finance companies list will help you sort out your confusion.

1. Dubai Islamic Bank Al Islami

Dubai Islamic Bank Al Islami provides the financing of a vehicle for the personal or commercial need in UAE.

Loan Features

  • Financing accessible beginning from Compensation of AED 3000* every month.
  • Financing sum up to AED 1.5* Million for Singular Clients.
  • Financing accessible for up to 60* months.
  • Back accessible for new and utilized autos.
  • No Prerequisite of compulsory exchange of Pay.
  • The choice for financing Protection and different embellishments accessible.
  • Financing accessible for Salaried, Independently employed, Lease an Auto, Organizations and Substantial Hardware.
  • Financing sum up to AED 5* Million for Non-Singular Clients.

Documentation

  • Individual/Business Bank Articulations.
  • Pay Endorsement/Slip.
  • International ID/Khulasat al Khaid duplicate copy.
  • Legitimate Visa (Ostracize clients).
  • Emirates ID Card.
  • Citation for the vehicle being bought.
  • Exchange Permit/Notice of Affiliation/Organization Assertion.

Fees and charges

  • Aggressive benefit rate of 2.35%* p.a.
  • Handling charge for due perseverance and documentation up to AED 2,500**.
  • Portion delay charges – AED 100 for each postponement.
  • Reschedule Murabaha Facility – AED 250.
  • Early Settlement Charges - 1% of the outstanding balance.

*For more information visit the Dubai Islamic Bank website.

2. Standard Chartered New Auto Loan

Standard Chartered new automobile financing enlists buy design offers you an adaptable reimbursement design, up to 80% financing, and attractive interest rate packages plan. Get the auto you merit with an Automobile Advance customized only for you. It's quick, advantageous and hassle-free.

Loan Features

  • Convenient Banking.
  • Wide Distribution Network.
  • No Minimum Balance.
  • High Loan Amounts.
  • Competitive Pricing.
  • Flexible Terms.
  • Fast Processing.

Fees and Charges

  • 1% of the finance amount (Min. AED 500 and Maximum AED 2,500).
  • Expenses and charges are liable to change. All expenses and charges recorded are comprehensive of 5% Esteem Included Duty (where material) powerful 1 January 2018. Expense suggestions on above charges and charges might be liable to change.

Eligibility & Documents

Eligibility: Least age prerequisites are 18 years and a half year for enlistment and 20 years and a half year for check payers.

Documents Required

  • Emirates ID Card copy.
  • Passport & Visa copy.
  • Employment letter Last Salary slip.
  • Last 3 months personal bank statement.
  • Vehicle quotation.
  • Employer Letter.

*For more information visit the Standard Chartered Bank website.

3. AL Hilal Bank Used Car Finance

Al Hilal Bank provides the new vehicle financing and used vehicle financing. At Al Hilal Bank, we can convey your fantasy auto in a way that isn't just speedy and simple yet in addition consistent with Shariah esteems. Our Vehicle Back items are intended to be helpful yet aggressive.

Features & Benefits

  • Fast and simple approval process.
  • Shariah-compliant.
  • High finance amount.
  • Competitive profit rates.
  • Flexible tenure of up to 5 years.
  • Takaful (Islamic Insurance) arrangements and financing.
  • No hidden documentation and study fee.
  • No salary transfer required.
  • Vehicle registration on 3rd party name (with blood relatives only).
  • Joint income possibility (with blood relatives only).

Shariah Contract

  • Murabaha.
  • Musawamah.

Eligibility & Required Documentation

  • Down payment requirement of 20%.
  • Minimum salary requirement of AED 7,000.
  • Residence visa page (as applicable).
  • A valid passport.
  • Quotation addressed to Al Hilal Bank.
  • Latest 3 months bank statements.
  • Any other additional documentation which may be required thereafter according to the Al Hilal Bank policies and procedures.

*For more information visit the AL Hilal Bank website.

4. Mashreq Bank Car Loan

Mashreq Bank offers auto car loans at focused terms and esteem included advantages. So, quickly get behind the wheel with a Mashreq bank Car Loan. Mashreq bank provides the loan on a brand new or pre-owned car.

Features & Benefits

  • Maximum Loan of up to AED 500,000.
  • Rates starting at 3.25% p.a. flat*.
  • Flexible Repayment Options.
  • 12-60 month repayment periods on new and used cars.
  • Exceptional rates on vehicle protection.
  • Free present record with no base adjust.
  • Free for first-year overdraft office of up to AED 100,000.
  • Free for first year Platinum Tip top Visa.

*For more information visit the Mashreq Bank website.

5. Emirates NBD - Auto Loans

The Emirates NBD auto loans are available on Flat rate: 2.49% p.a. and reducing rate of 4.61% p.a. Emirates NBD provides the Feature Packed Auto Loans Auto Cash Loan and Green Auto Loan.

Features & Benefits

  • Flexible payment options.
  • Loan approvals in Half a Day with easy process and simple documentation.
  • Enhanced Auto-Protect credit life* insurance that provides complete peace of mind.
  • Attractive pricing for passenger and business vehicles.
  • Large distribution channels with a vast branch network and secure online and mobile banking.
  • Free Annual Registration renewal service at customer's doorstep**.
  • Online Salik Recharge and RTA fine payment facility.
  • Round the clock Roadside Assistance***.
  • Free Bank Account.
  • Preferential Motor Insurance rates through our preferred partners.
  • Free Credit Card for the first year.

*For more information visit the Emirates NBD Bank website.

Other options

  • Noor Bank Auto Finance.
  • Gulf Finance Business Vehicle Finance.
  • Ajman Car Loan.
  • UNB Auto Loan.
  • Emirates Islamic Auto Finance.

Frequently Asked Questions

How can I get car finance in Dubai?

To get a car loan in Dubai you’ll require an Original Emirates ID, Salary certificate/proof of income, Valid Passport/Visa, Driving License, 3-6 months of bank statements, Valuation certificate of the car, Insurance policy documents, and car's registration.

How much car loan can I get in UAE?

The maximum auto finance amount available is 1.5 M. Terms and Conditions Apply. The profit rate ranges from 1.80% to 2.95% for salaried customers. The processing fee is 1% of the finance amount, with a minimum of 500 AED and a maximum of 2500 AED. There is no profit rate for business customers, but the interest rates are between 2.80% and 3.90%. The processing fee is 1% of the finance amount, with a minimum of 500 AED and a maximum of 2500 AED. If you take your car to the Dubai showroom, you can

What is the interest rate for car loan Dubai Islamic bank?

Your vehicle will be purchased by DIB and leased back to you for over 60 months (maximum). Visit your nearest DIB branch with the necessary documents and receive finance for up to 80% of your vehicle value, with an applicable profit rate of 3.50% p.a (flat) (6.40% p.a reducing). The average vehicle financing period is 60 months. In any event, the maximum term of the finance agreement may not exceed 80% of the residual value of the financed vehicle at the date of delivery, plus applicable taxes a

How do car loans work UAE?

Consumers can only finance 80% of the new or used car's value, implying a 20 percent down payment. The down payment is generally paid directly to the bank, which then, in turn, settles the total value of the used car with its owner. This 20 percent down payment is not included in the loan amount. Consumers can also finance up to 20% of a used car's value. This amount is then added to the total amount of the used car and settled with its owner. In this case, however, the borrower must pay an insu