Vehicle Finance with Al Baraka
Find Your Perfect Car Finance Solution
Are you ready to drive your dream car or upgrade to a newer model? Al Baraka offers tailored vehicle finance options to suit your needs. Whether you prefer fixed or flexible payment plans, Al Baraka can get you behind the wheel quickly and efficiently.
Benefits & Features
- Low Deposit Requirement: Start with a minimal upfront payment.
- No Monthly Admin Fees: Save on additional costs.
- Competitive Pricing: Enjoy affordable rates.
- Lump Sum Payments: Option to make annual lump sum payments on lease contracts.
- Flexible Terms: Finance terms extend up to 72 months.
Details & Fees
- No Monthly Admin Fees: No hidden charges.
- Flexible Repayments: Choose between variable or fixed repayment options, tailored to your preferences.
How To Apply
To apply for Al Baraka’s vehicle finance, you need the following documents:
- Proof of Address: Not older than 3 months.
- Identity Document: Bar-coded ID or Smart ID.
- Proof of Income:
- Salaried Individuals: Last 3 months’ salary slips.
- Non-Salaried Individuals: Latest annual financial statements or income tax return.
- Bank Statements: Last 3 months.
- Personal Statements:
- Signed statement of personal income and expenditure.
- Signed statement of personal assets and liabilities (if married in community of property).
Click here to view all acceptable forms of proof of address required to open an account.
Click here to track your online application.
Fixed Instalment Motor Vehicle Finance (Murabaha)
- Fixed Rate: For the entire finance term up to 72 months.
- No Monthly Admin Fees: No extra costs.
- Early Settlements: No penalties for paying off early.
- Dealer Requirements: Vehicle must be from a recognized dealer, not older than 6 years, and require a 10% deposit.
- Vehicle Eligibility: Applicable to new or used vehicles up to 6 years old with a maximum mileage of 120,000 km.
- Note: Private sales are not financed.
Variable Instalment Motor Vehicle Lease (Ijara)
- Eligible Vehicles: Brand new or demo vehicles.
- Finance Term: Up to 60 months with a 10% deposit.
- Fixed Rates: For the first 12 months, with annual review and option for lump sum payments.
- No Monthly Admin Fees: Save on extra costs.
- Early Settlements: No penalties for paying off early.
- Vehicle Eligibility: Maximum age of vehicle is 6 months, with a maximum mileage of 10,000 km.
- Note: Private sales are not financed.
Click here to view Ijara Terms and Conditions of Agency.
Fixed Instalment Motor Vehicle Lease (Ijara)
- Eligible Vehicles: Brand new or demo vehicles.
- Finance Term: Up to 60 months with a 10% deposit.
- Fixed Rate: For the entire finance term with no monthly admin fees and no penalties for early settlements.
- Vehicle Eligibility: Maximum age of vehicle is 6 months, with a maximum mileage of 10,000 km.
- Note: Private sales are not financed.
Explore Al Baraka’s vehicle finance options today and find the perfect plan to get you on the road with ease.