Car Loans in UAE
#1
Forum Regular
Thread Starter
Joined: Jul 2007
Location: Dubai Marina
Posts: 135
Car Loans in UAE
First time car purchaser here and looking for a car loan at the moment. Couple of weeks back somebody was saying about a 3.99% deal with one of the banks?
Well I can't find it - so does anybody know of any particularly good deals out there at the moment.....those loans to avoid etc.
Thanks in advance
Well I can't find it - so does anybody know of any particularly good deals out there at the moment.....those loans to avoid etc.
Thanks in advance
Last edited by ssuh; Nov 7th 2008 at 12:10 pm. Reason: typo
#2
Re: Car Loans in UAE
Do a search on this - I've written quite a bit on car loans and banks to avoid...
#3
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: Car Loans in UAE
car loans are not 3.99 as they are not shown as apr rates, so it usually works out nearer the 8% mark, our loan with adcb taken out 2 years ago so cheaper i believe than now is apr of 7.38
#4
Forum Regular
Thread Starter
Joined: Jul 2007
Location: Dubai Marina
Posts: 135
Re: Car Loans in UAE
IndieG - searched but couldn't find much...will keep looking
#6
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: Car Loans in UAE
yep think its called flat rate, but you ask what the apr is and see the difference
#7
Forum Regular
Thread Starter
Joined: Jul 2007
Location: Dubai Marina
Posts: 135
Re: Car Loans in UAE
#8
Just Joined
Joined: Mar 2008
Posts: 13
Re: Car Loans in UAE
hii
am working in al tayer motors - Sales advisor
the 3.99 was existed before yes..but not now any more
most of the banks increased the rate laterly (2 weeks ago)
now the cheapest is 4.5% for the new cars, and i think 4.75 for the used cars (am not sure coz i work in the new cars only)
plus.. now days after the financing problem came up..the banks using new rules (more deficult) your company should be listed, clean history ..and so
with wich bank you are banking? or to wich bank your salary get transfer
if you like i can help you in that thru the bankers which i deal with (i am dealing with 5 banks: standard chartard, emirates bank, mashreq bank, dubai islamic bank, emirates islamic bank)
i can help...send me PM
cheers
am working in al tayer motors - Sales advisor
the 3.99 was existed before yes..but not now any more
most of the banks increased the rate laterly (2 weeks ago)
now the cheapest is 4.5% for the new cars, and i think 4.75 for the used cars (am not sure coz i work in the new cars only)
plus.. now days after the financing problem came up..the banks using new rules (more deficult) your company should be listed, clean history ..and so
with wich bank you are banking? or to wich bank your salary get transfer
if you like i can help you in that thru the bankers which i deal with (i am dealing with 5 banks: standard chartard, emirates bank, mashreq bank, dubai islamic bank, emirates islamic bank)
i can help...send me PM
cheers
#9
Re: Car Loans in UAE
hii
am working in al tayer motors - Sales advisor
the 3.99 was existed before yes..but not now any more
most of the banks increased the rate laterly (2 weeks ago)
now the cheapest is 4.5% for the new cars, and i think 4.75 for the used cars (am not sure coz i work in the new cars only)
plus.. now days after the financing problem came up..the banks using new rules (more deficult) your company should be listed, clean history ..and so
with wich bank you are banking? or to wich bank your salary get transfer
if you like i can help you in that thru the bankers which i deal with (i am dealing with 5 banks: standard chartard, emirates bank, mashreq bank, dubai islamic bank, emirates islamic bank)
i can help...send me PM
cheers
am working in al tayer motors - Sales advisor
the 3.99 was existed before yes..but not now any more
most of the banks increased the rate laterly (2 weeks ago)
now the cheapest is 4.5% for the new cars, and i think 4.75 for the used cars (am not sure coz i work in the new cars only)
plus.. now days after the financing problem came up..the banks using new rules (more deficult) your company should be listed, clean history ..and so
with wich bank you are banking? or to wich bank your salary get transfer
if you like i can help you in that thru the bankers which i deal with (i am dealing with 5 banks: standard chartard, emirates bank, mashreq bank, dubai islamic bank, emirates islamic bank)
i can help...send me PM
cheers
#10
Re: Car Loans in UAE
Really easy to calculate your flat rate. Multiply your payments by the number of payments to be made. Deduct the amount you are borrowing. Divide the balance by the amount you are borrowing as a % and divide by the number of years the loan is over. Simple!
2'000 per month over 48 months on an 80'000 loan is 5% flat.
Just reverse to calculate your payments on a flat rate and balance.
Doesn't mean much but it's easy to do.
2'000 per month over 48 months on an 80'000 loan is 5% flat.
Just reverse to calculate your payments on a flat rate and balance.
Doesn't mean much but it's easy to do.
#11
BE Enthusiast
Joined: Oct 2008
Location: Moved to Mirdif
Posts: 319
Re: Car Loans in UAE
Really easy to calculate your flat rate. Multiply your payments by the number of payments to be made. Deduct the amount you are borrowing. Divide the balance by the amount you are borrowing as a % and divide by the number of years the loan is over. Simple!
2'000 per month over 48 months on an 80'000 loan is 5% flat.
Just reverse to calculate your payments on a flat rate and balance.
Doesn't mean much but it's easy to do.
2'000 per month over 48 months on an 80'000 loan is 5% flat.
Just reverse to calculate your payments on a flat rate and balance.
Doesn't mean much but it's easy to do.
#14
Just Joined
Joined: Jan 2009
Posts: 2
Re: Car Loans in UAE
Hey its better to ask directly where you are going to get the loan.They will tell you about the lower interest rate.I think most of them are providing 8% interest and i am not sure about it.
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Last edited by Mitzyboy; Jan 28th 2009 at 8:23 am. Reason: Link removed