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Finance your next car

Car Loans & Auto Finance in the UAE

Car finance arranged for UAE residents — eligibility checked first, bank offers compared on what they really cost, and the paperwork handled.

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Car finance in the UAE is easy to be offered and easy to overpay for. Almost every rate you see advertised is a flat rate, which charges interest on the full amount for the whole term, so the true rate is close to double the number on the advert.

What you are approved for depends on your salary, your employer, how long you have been in the job and what you already owe. Banks also treat new cars, used cars and self-employed applicants quite differently, and the same person can be quoted very different terms by two lenders on the same day.

We check what you are eligible for before you commit to a car, compare real offers on total cost rather than headline rate, and handle the bank and the paperwork so the finance is ready when the car is.

What is included

  • Eligibility checkA realistic view of how much you can borrow, over what term and at what rate, based on your income, your employer and your existing commitments.
  • Flat and reducing rates comparedEvery offer converted to the same basis, so a flat rate from one bank and a reducing rate from another can be judged on what they actually cost.
  • Offer comparisonOffers from several lenders compared on the total you repay — rate, processing fee, insurance and early-settlement terms.
  • DocumentationSalary certificate, bank statements, Emirates ID, driving licence and the dealer’s quotation assembled to the bank’s standard.
  • New and used vehiclesFinance for new cars from a dealer and for used cars, where lenders apply their own limits on the age and value of the vehicle.
  • Through to deliveryApproval, the bank’s purchase order to the seller, insurance and registration kept in step so the car is released on time.

How it works

  1. Eligibility reviewYour income, employer and existing commitments reviewed against current lender criteria.
  2. Offer comparisonReal offers gathered and put on a like-for-like basis, so you choose on total cost.
  3. ApplicationDocuments prepared and submitted, and the bank’s queries handled for you.
  4. Approval and deliveryApproval, purchase order, insurance and registration coordinated with the seller.
Questions

Auto Finance — frequently asked

How much deposit do I need for a car loan in the UAE?
UAE Central Bank rules limit car finance to 80% of the vehicle’s value, so you need a deposit of at least 20%. Some lenders ask for more on used cars or from applicants who are self-employed.
What is the difference between a flat rate and a reducing rate?
A flat rate charges interest on the full amount you borrowed for the whole term. A reducing rate charges interest only on what you still owe. As a rough guide, multiply a flat rate by 1.9 to find the reducing rate that costs the same: 2.99% flat over five years is about 5.62% reducing. We put every offer on the same basis before you compare them.
How long can a car loan run in the UAE?
Up to 60 months. A longer term lowers the monthly payment and raises the total interest, so the lowest monthly figure is rarely the cheapest loan.
Can I get car finance if I am self-employed?
Yes, though the evidence is different. Lenders usually ask for a valid trade licence, company bank statements and proof that the business has been trading for a minimum period. Which banks are open to you depends on the business, so it is worth checking before you choose a car.
Can I settle a car loan early?
Yes. Early settlement normally carries a fee, which regulation caps at 1% of the outstanding balance up to a maximum of AED 10,000. On a flat-rate loan, ask how the remaining interest is treated, because that decides how much you actually save.
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