Request Quote Now

    Approval within 24 hours

    Nominal interest rates

    No guarantors

    Minimum documentation

    Car Loan

    Car Loan, also known as Auto Finance, refers to borrowing money to buy a car. Car financing is quite prevalent in the Emirates with almost 65-70% of car buyers looking to take a loan. It is required by both private individuals and businesses.

    Owning a vehicle today has become more of a necessity than a luxury. Planning for your first budget car or to add a luxury model to your fleet, all is possible by using the auto finance services of the banks.

    Features of car loan

    All loans are not created equal, personal loan has become a great option for people to use.

    Higher Finance Amount

    Get up to 80% Finance of the new and old used car’s value. You just have to pay 20%.

    Competitive Interest Rates

    Interest rates starting at 2.99% per year with a flexible installment plan. Now you can own your dream car with low payments.

    Flexible Repayment Options

    Get maximum repayment tenure up to 60 Months for a new or used car loan.

    Minimum Documentation

    Drive your dream cars with fast and hassle-free documentation and get instant quotations & e-approvals.

    Buyout Loan - Eligibility

    Any salaried, self-employed, or professional is eligible for a buyout loan.

    Monthly Income

    To apply for a new or used Car Loan in UAE, the minimum fixed monthly income should be AED 3000 or above.

    Good Credit History

    A minimum credit score of 650 has become the most important factor in applying for a loan or any financial product in UAE.

    Debt Burden Ration

    The maximum permissible DBR is 50% for salaried and self-employed applicants and 30% for pensioners, as stipulated by the Central Bank.

    Documents Require for Car Loan in UAE

    Expatriates

    • Valid Passport Copy
    • Valid Visa Copy
    • Valid Emirates ID copy
    • UAE Driving License Copy
    • Salary Certificate
    • Bank Statement
    • Mulkiya and Quotation from Showroom needed in case of used car.

    UAE Locals

    • Valid Passport Copy
    • Idbara Page Copy
    • Valid Emirates ID copy
    • UAE Driving License Copy
    • Salary Certificate
    • Bank Statement
    • Mulkiya and Quotation from Showroom needed in case of used car.

    Top Car Loan providers in UAE

    Compare 10+ car loan options & check eligibility saving you time/ money

    Emirates Islamic Bank
    RAK Bank
    Dubai Islamic Bank
    ADCB Bank
    ADIB Salary Transfer Loan

    Get Started Simple & Securely

    Our focus is to avail our visitors with complete and transparent information about loans and other financial products in the UAE market.

    Gulf Finance provides you an instant comparison on rates, eligibility, and other features before applying for any financial product and helps to save time and money.

    Just 3 step away

    • 1. Fill the online form. Apply Now
    • 2. Fill in the mandatory details, & click Submit
    • 3. Bank representative will get in touch with you in 60 minutes

      Request Quote Now

      Frequently Asked Questions

      Yes, an auto loan can be consolidated, however, policies may differ from bank to bank.

      Debt burden ratio is the ratio of total monthly installment/commitments of credit cards, loans, or any other committed monthly repayments to the total income of an individual.

      Yes, but after the consolidation of all loans and cards, your DBR should not reach above 50%.