Frequently asked question
Questions you might ask about our car loan service
We facilitate the approval of your documents with the bank and ensure timely payment to your seller. Additionally, we manage the clearance of your down payment and provide support throughout the registration process and the management of your EMI with the bank.
Our service charge is set at 525 AED, along with a 2% annual commission if the loan term is five years. For instance, if your loan amount is 10,000 AED over a five-year period, the annual commission would amount to only 200 AED, which will be incorporated into your EMI. Initially, you are required to pay only 525 AED.
Basic Documents are
-
Salary certificate
-
3 or 4 month's bank statement
-
passport and visa
-
Emirates id
Additional documents-If the bank requires further documentation, we will notify you after reviewing your initial submissions. Therefore, please provide only the essential documents at this time.
-
Driving License
-
pay slip or clarification letters,
-
Aecb Report
-
home country license ,
-
labour card copy
-
company id card copy
-
Freezone id card
-
Third party registration supporting documents
-
marriage certificate etc. (If bank needs only )
If you are confident in your documentation, you may proceed with an advance at your own discretion. It is essential to possess all original documents prior to acquiring the vehicle from the seller. Following pre-approval from the bank or at the time of the car purchase, the original documents must be submitted to the bank or our team.
-
Once your documents are approved for the car loan, our agent will instruct you to begin your search for a vehicle. It is important to wait for this confirmation before proceeding. When you find a suitable car, you can make a cash offer to the seller without any delay, while also negotiating for the best price. Simultaneously, please send us the required documents.
-
Car 4 side photo.
-
Km cluster photo
-
On door panel sticker.
-
Registration card front and back .
-
Car Test report ,(Test Report from which emirates you want to register the car )
-
Looking to purchase your dream car, but need help with financing? Look no further than UAE Auto Loans. We partner with several leading banks to offer a range of financing options with competitive interest rates and flexible repayment terms. Let us help you make your dream a reality.
-
Dubai Islamic bank
-
Emirates Islamic bank
-
Emirates NBD bank
-
ADCB bank
-
Hilal bank
-
HSBC bank
-
Sharjah Islamic bank
-
ADIB bank
-
Mashreq bank etc,
When really you need to go for car loan contact us we do the need full .
-
At UAE Auto Loans, we offer competitive interest rates on all of our auto loans. Whether you're looking to buy a used car or refinance your current loan, our team is here to help. We understand that everyone's situation is different, and that's why we work with you to find the loan options that work best for you. Our goal is to make the process of buying a car as easy and stress-free as possible. Contact us today to learn more and get started on your journey to car ownership!
Bank have different bank interest rate and charges , usually all depend up on there promotion . when u go for used car you can see in advertising 2.5 % interest. This is depend up on many criteria ,may be you should be the privilege's customer of that bank , may be you should have minimum salary what they limit, limit the year of model cars , company profile may can be a matter , length of service with that company etc. so remember advertisement always just to attract .
Normally you can expect if your salary is 3000 to 5999 then your interest can be approximately between 4.5 % to 6.5% , if salary is more than6000 to 12000, And you working in a good company and proper good credit score with aecb, then you can expect to bank interest will be approximately between 3.5 to 5.5%. if your salary getting more than 12000 to more and buying a new year modal of car and working in a good company and proper good credit score with aecb, then you can expect bank interest will be approximately between 2.75% to 5 %, For ijara ( s.p refinance case ) interest will be start at 4.1 at any salary .All prediction can be change case to case .so send your basic documents and check your eligibility properly.
This all approximate percentages given , its can be little changes depend up on if there any bank promotions, so when you really want to go with car loan talk with our agent then submit your documents , then know the exact figure from the bank its self.
The salary range is between 3,000 AED and 5,999 AED. The minimum interest rate is set at 4.5% per annum, while the maximum interest rate is 6.5% per annum.
The salary range is between 6000 AED and 12000 AED. The minimum interest rate is set at 3.5% per annum, while the maximum interest rate is 5.5% per annum.
The salary range is between12000 AED and more. The minimum interest rate is set at 2.75% per annum, while the maximum interest rate is 5.% per annum.
To be eligible for a car loan, it is crucial to ensure that all necessary documentation is complete, including the Debt Burden Ratio (DBR), employment information, duration of employment, and visa status. For better understanding, we have defined two classifications: Category A, which consists of individuals earning between 3,000 and 6,000 AED, and Category B, which includes those with salaries of 6,000 AED or higher. The shortest loan term offered is one year, while the longest can reach up to five years.
No American cars for loan not possible
loan possible for gcc cars only
Category A
salary between 3000 to 5999
2018 -model cars loan period can be minimum 1 year and maximum 3
2019- model cars loan period can be minimum 1 year and maximum 4
2020- model cars loan period can be minimum 1 year and maximum 5
Category B
salary 6000 or more working in reputed company
2017 -model cars loan period can be minimum 1 year and maximum 3
2018- model cars loan period can be minimum 1 year and maximum 4
2019- model cars loan period can be minimum 1 year and maximum 5
Important Note -If you are looking for less Emi then find 5 year loan plan model cars .
-
All these just for your information All will not applicable for one deal
-
Loan Job insurance protection scheme ( As/ bank policy )
-
Sukuk processing fee-425 or % of loan amount
-
Refinance bank processing fee starting from -525 or 1 or 2 % of loan amount
-
Bank processing fee start from -Minimum 525 or 1 or 2 % of loan amount
-
Car evaluation charges ---Depend up on bank and value start from 500
-
Car registration test start from --Start from 150 dhs
-
Car registration test Dubai --170 dhs
-
Car id test ---Start from 170
-
Car renewal test --start from 170
-
Export test -- strat from 120 dhs
-
If need test again----Depend up on emirates start from 150
-
Cancelling registration card ---Depend on emirates start from 350 dhs
-
Adh typing charge 45-150
-
Owner ship transfer from possession certificate -- start from 170 dhs
-
Owner ship cancelation and transfer from registration card directly---540
-
Ownership cancelation ---120
-
Ownership transfer ---170
-
Possession certificate ---120
-
Transfer of registration in shj export 350
-
Registration card cancellation start from--- 350
-
RTA File open -200
-
If you need to move car with out number plate Recovery start from one side minimum (Less or more 100)
-
After Purchase if need covered parking start from -160
-
Service charge start from -525
-
Insurance sedan start from (1500 and more
-
insurance suv start from 2000 and more
-
Registration with number plate (less or more )
-
If seller from our side 500
-
Mortgage add on registration card -170
-
If any Rta fine seller and buyer should clear it before transfer.
-
if cheque collection or account transfer from our side( 150)
-
mobaya (if seller or buyer not came in rta 250
-
salik tag 100
-
Car wash 16
-
If need Advertice-350 dhs
-
If any kind of repair ( as per your requirement if possible )
-
auto loan protection fee starting from 1050(some banks applicable )
-
VAT if applicable only ( individual to individual no charges B to c 5% )
-
Our car loan service offers a remarkable advantage: your seller does not have to wait for payment from the bank. Our company provides immediate payment to the seller, allowing us to purchase the vehicle directly. Subsequently, we facilitate a 100% car loan from the bank. With our support, you can negotiate effectively with your seller.
After approval by our credit team, if we want to proceed with our deal, we need to pay our service charge of AED 525. It can be deposited in any of these accounts. And send us the receipts. A refund of Dhs 500 is available if the deal is rejected, but if you wish to cancel, it will not be refunded. Remember that we only send bank application forms once the advance is received.
ENBD
DEEPAK SOMASUNDARAN
CURRENT ACCOUNT
AC - 101 1394169 001
IBAN- AE310260001011394169001
EMIRATES N B D
RAK BANKDEVALOKAM CAR REGISTRATION TRANSFER SERVICE
AC 0372230670001
IBAN AE080400000372230670001
Al Qusais
Office location
Devalokam
Shop 1/33
Madina mall
Al qusais
Muhaisnah-4
Before we go to purchase the car from seller, you should have all these original
1. Salary certificate
2. Emirates ID
3. Original of any additional documents given
4. Original passport
5. Cheque leaf
Frequently asked questions
Questions you might ask about our car loan service