About Car Loans
The proposed car loan is designed specifically for business people and employees with regular income or salary for the purpose of assisting them to own a car without taking time to accumulate the full amount of funds required for purchasing it. The loan is accessed to purchase both used and new cars provided that the clients meet our loan requirements. It is intended to facilitate the clearance of the cars which are already imported or directly purchased from the local suppliers.
Features
- Financing up 50% of the car price.
- Flexible repayment term varying from one to six months.
- The affordable interest rate charged on the outstanding principal balance.
- A car insured with a comprehensive insurance policy.
- A car is used as collateral against the loan offered.
- The loan is accessible in 48 hours after completing the loan application process.
Benefits
- Short turnaround time of 1-2 days.
- Repayment flexibility.
- Attractive interest rate.
- Simplified and flexible security requirements.
- Ability to own a car with little saving.
- Using the genuine documents of the car purchased as collateral.
Requirements
- Genuine documents of the car from the supplier.
- Genuine invoices for the required payments for the car.
- ID copy of the applicant and his/her guarantor.
- Bank statements for the last 6 months.
- A passport photo of the applicant.
- The photocopied ID of the guarantor.
- Letter from the Local Government Authority to introduce the borrower.