Best Car Loan/Auto Loan Provider in UAE, Apply Now for Your Dream Car Loan in Dubai, UAE
Simply put, a loan that one takes to buy a dream car or vehicle is known as car loan or auto loan. A car loan lets one enjoy the pleasure of riding own car even then when he does not have enough money to buy a car.
Getting car loan has become easier these days, and as installment rates have also lowered, a loan applicant do not feel burdened while repaying it.
Car Loan Features
- Depending on the bank’s rule, car loans ranges from 30000AED up to AED 900,000.
- Maximum car loan repayment period can range from 12 months to 60 months depending on the comfort level of an applicant.
- If an applicant go for a general interest rate, then he can end up paying as less as 2.35% per year. The very interest rate depends on the banks and it can change from one bank to another.
- One can opt between general interest rates or lowering balance interest rates, which can go a bit higher.
- Car loan can be taken to buy both new and used cars.
- 80% to 100% of the money of the total value of a car can be taken as a loan.
- Car loan can be taken by both residents and non-native who work in the UAE.
Advantages of Getting Car Loans
Car loan is not only a financial tool, it also offers many advantages to applicants. Some of these advantages are :
- Maximum current accounts come with a minimum balance regulations which cannot be negated. Many banks waive the very clause once an applicant takes car loans from them.
- Most of the banks offer credit cards that never charge any fee for the first year.
- Car loans can be taken for all kinds of cars such as sedans, saloon, 4X4 vehicles and much more.
- Some banks even provide car insurance at flexible rates along with the loans.
- SIP or Staggered Investment Plans allows the applicants to enjoy affordable instalments which gradually increases the tenure of the loan.
Types of Car Loans available in the UAE
Different applicants can have different requirements. Banks in the UAE provide car loans that are plan to suit different needs of the applicants. These car loans are:
- Traditional car loan with or without salary transfer.
- The traditional auto loan is the one that applicants can apply for car loans depending on the maximum amount that the bank offers. They can repay the loan in a period of 60 months maximum along with an easy interest rate. The car loans can also be taken with or without a salary transfer to an account kept with the bank.
Islamic Car Loans
car loans that get taken following Islamic banking rules are known as Islamic car loans. Ijarah concept or loan format gets followed in this regard and a bank buys the car on behalf of its client or the loan applicant. The applicant can keep the car on lease from the bank and pay a certain amount of money for a fixed period of time.
Once the amount for the car gets paid, the bank transfers the ownership of the vehicle to the applicant or the customer.
Car Loans Without Down-payment: 100% Car Loans
Maximum banks offer just the financing part of the total value of the car. There are banks that offer up to 100% of the value of the car. These loans can include the value of the insurance for the vehicle along with the actual value of the car.
Used Car Loans
People take loans for both new and used cars. Even for this type of purchases, many banks in the UAE offer used car loans that get processed almost the same way as loans for new cars. In case of taking used car loans, the cars that applicants are interested in, must not be older than a specific number of years that the respected banks determine.
Best Car Loans Available in the UAE
Not only the banks in the UAE offer car loans, there are other organizations as well that flawlessly offer car loans to the applicants.
Advantages of Getting Our Services
- Simple and rapid solutions to all your personal financial issues.
- We can assist you in comparing the interest rates of personal loans in Dubai that get offered by numerous banks. It can help you take a wise decision in opting for the most flexible offer.
- We offer only the latest information with references regarding the eligibility criteria and the procedures related to the lending process.
- Easy application procedure.
- Faster turnaround time in processing and approval by the banks.
If you are looking for Car Loan/Auto Loan in UAE, then you are on the right planet. We are the best car loan/auto loan provider in UAE. A car loan lets one enjoy the pleasure of riding in United Arab Emirates. Apply now for your dream car or Call: 00971509064015
We are a lead generating company which connects consumers with third party lenders.
Apply now for cash and get a quick approval. Minimum period – 6 months and maximum period – 60 months.
The minimum apr is 1.54% and maximum apr is 24.99% depending on your company, salary, bureau score and the type of loan you avail.
Applicable fees will be 1% of loan amount as processing fees & 1% of remaining amount if early settlement.
There are no charges for applying on our platform. Once you apply for the type of product you are interested in, you will get calls from our registered consumers, which will be great for you to compare and decide amongst the options.
Illustration-
Principal Loan Amount = AED 100
Rate of Interest = 1.54%
Processing Fee = 1%
Tenure = 6 month
Total Loan Amount = Principal Loan Amount + Interest + Processing Fee
= 100 + 1.54 + 1
= 102.54
Monthly Installment = Total Loan Amount / Tenure
= 102.54 / 6
= 17. 09