• Under this product, individuals have the option to lease a car and have an option to own the car ("promise to own") at the end of the lease contract.

*The percentage rate may vary according to the amount, maturity period and credit score for each client.
Example: disclosure of financing products prices for 5 and 4 years monthly installment (LAST UPDATE 15-12-2021)
Asset Type Car Price VAT Inclusive Loan Duration Down Payment Percentage Down Payment Amount Insurance Percentage Finance Amount Admin Fee APR Instalment Amount Balloon Payment Percentage Balloon Payment Amount
Car SAR 100,00 5 years 5% SAR 5,000 1.50% SAR 95,000 1% 8.33% SAR 1,390 35% SAR 35,000
Example: disclosure of financing products prices for 50 - 50 offer (LAST UPDATE 15-12-2021)
Asset Type Car Price VAT Inclusive Loan Duration Down Payment Down Payment Amount Insurance Percentage Finance Amount Admin Fee APR Balloon Payment
Car SAR 200,00 2 years 50% SAR 100,000 1.50% SAR 100,000 1% 8.10% 50%


Example: disclosure of financing products prices for Sale and Lease Back (LAST UPDATE 15-12-2021)
Asset Type Car Price VAT Inclusive Loan Duration Down Payment Down Payment Amount Insurance Percentage Finance Amount Admin Fee APR Instalment Amount Balloon Payment Percentage Balloon Payment
Car SAR 80,00 4 years 0% SAR 0 1.50% SAR 80,000 1% 13.46% SAR 2,079 0% SAR 0


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  • The Annual Percentage Rate (APR) is the cost of the credit extended to the consumer by Financial institution. This rate is usually higher than the profit rate (Flat Rate) as it takes into consideration all costs featured in extending that credit namely administrative fees, commission, and insurance cost. Therefore, APR provides a clearer picture of the cost of credit than profit rate.

 

 

 

 

  • The table above and its numbers are an illustrative example only to show the annual percentage rate, which is dependent on four variables (Finance amount, profit rate, Finance tenor and car price)

 

 

 

 

  • Administrative fees are either 1% of the amount of finance or SR 5,000, whichever is less.

 

 

Terms & conditions apply

  • * Terms & conditions apply