• 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 individuals(LAST UPDATE 12-10-2022)
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 100,000 5 years 5% SAR 5,000 1.50% SAR 95,000 1% 9.64% SAR 1499.21 35% SAR 35,000
Example: disclosure of financing products prices for 50 - 50 offer (LAST UPDATE 12-10-2022)
Asset Type Car Price VAT Inclusive Loan Duration Down Payment Down Payment Amount Insurance Percentage Finance Amount Admin Fee APR Instalment Amount Balloon Payment Balloon Payment Amount
Car SAR 100,000 2 years 50% SAR 50,000 1.50% SAR 50,000 1% 9.46% SAR 351.67 50% SAR 50,000


Example: disclosure of financing products prices for Sale and Lease Back LAST UPDATE 12-10-2022)
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 120,000 5 years 0% SAR 0 1.50% SAR 100,000 1% 12.64% SAR 2601.25 0% SAR 0


Example: disclosure of financing products prices for Flexi (LAST UPDATE 12-10-2022)
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 100,000 2 years 34% SAR 34,000 1.50% SAR 66,000 1% 8.55% 1st Year installment = 362.59, 2nd Year Payment = 33,362.59, 3rd Year installment = 247.78 33% SAR 33,000


Example: disclosure of financing products prices for Sign and Drive (LAST UPDATE 12-10-2022)
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 100,000 1 years 0% SAR 0 0.00% SAR 100,000 0% 2.02% SAR 2625 70% SAR 70,000


Example: disclosure of financing products prices for Used Car (LAST UPDATE 12-10-2022)
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 100,000 4 years 15% SAR 15,000 1.50% SAR 85,000 1% 9.82% SAR 1503.46 35% SAR 35,000


Example: disclosure of financing products prices for Motorcycles 3 years (LAST UPDATE 12-10-2022)
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
Motorcycle SAR 60,000 3 years 10% SAR 6,000 1.50% SAR 54,000 1% 11.21% SAR 1,454.97 20% SAR 12,000


Example: disclosure of financing products prices for Companies Leasing (LAST UPDATE 12-10-2022)
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 100,000 5 years 5% SAR 5,000 3.25% SAR 95,000 1% 13.57% SAR 1,707.29 35% SAR 35,000
Example: disclosure of financing products prices for individuals (LAST UPDATE 12-10-2022)
Finance Type Finance Duration Finance Amount Admin Fee APR Instalment Amount
Tawaroq 5 years SAR 100,000 1% 10.00% SAR 2,082.50


*

    • 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 5,0000, whichever is less.

     

     

    Terms & conditions apply

  • * Terms & conditions apply
  •