Noor Bank Auto Finance

Noor Bank Auto Finance

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Al Dhafrah, Abu Dhabi City, Abu Dhabi, UAE

Buying a new car was never that easy. with the noor bank auto finance plan, buy any car either brand...

Financials - Loans - Car Loan

Noor Bank

Noor Bank

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No of Products & Services : 50

Location : Abudhabi

Trusted Marketplace: Storat Is open only to verified individuals And businesses living in the country. There are three Level of verifications:

Mobile Number Verified: Seller local mobile number verified with an OTP authentication

ID Verified: The seller uploaded a copy Of his\her ID or passport and it was verified manually by Storat team.

Verified Business: The seller is an established business with legal trade license issued by the government. The seller uploaded a copy of the trade license and owner ID and it was verified manually by Storat team.

There would hardly be anyone without the dream of owning a car in their life. But most of the people keep delaying it because it can be difficult to save up enough money to buy a car in one go. Luckily, there are car loans to solve that problem. Most the banks in Abu Dhabi offer loans so you can live your dream of driving a car that you own. You can also get a loan if you are purchasing a used car.

There are different types of car loans offered by banks which have attractive repayment terms and low interest rates. The right one will depend highly on the loan amount and your requirements. Before taking a decision, make sure you understand the different varieties of loans available.

Basic Car Loan in Abu Dhabi

It’s a regular car loan that lets you borrow money to buy any car of your choice. The amount of loan offered by banks depend on bank policies and your credit score. The approval time of such loan is also quicker and you get repayment flexibility as an added benefit. Moreover, some banks also offer car insurance with your auto loan.

Non-Salary or Salary Transfer Car Loan

Some of the banks require you to have a salary transfer account with them in order to grant you a car loan in Dubai or Abu Dhabi. While there are also banks that approve your loan without requiring you to open your salary transfer account with them. Such type of loans usually get a longer tenure and attractive interest rates.

Islamic Car Loan

Banks which follow Islamic banking principles provide Islamic car loans in UAE to customers. Such loans can be acquired with or without a salary transfer account with banks. There is no interest on such loans as it is against Sharia compliant Islamic banking principles.

When you apply for this type of loan, the bank or financial firm buys the car on your behalf. Then, you lease that car and once you are finished with the loan installments, you become the car owner.

Zero Interest Car Loan

There are a few banks in the UAE which provide you a car loan on zero interest rates for a fixed duration of the entire loan term. However, once this agreed period is over, you will have to pay a rate of interest as mentioned in your agreement. The benefits offered may vary with different banks.

Car Loan with Reducing Balance

In reducing balance auto loans, your monthly loan installment amount will keep changing. The first installment will require you to pay an interest calculated on the entire loan amount while for the following installments, the ROI will be calculated based on the balance amount payable after each installment.

Car Loan For Used Car

No matter whether you are buying a brand new car from the showroom or a used car, it’s still a new car for you. Most of the banks in Abu Dhabi provide loans for a used car as well and you can get more or less the same kind of benefits.

Apart from these loans, some of the banks of Abu Dhabi also provide loans which don’t even require for you to give the down payment. That means, the complete amount will be covered by the loan including down payment.