Cars

This program facilitates buying cars to customers through easy monthly installments at the most competitive rates in the market. The program is fully Sharia'a compliant and suits people of all incomes level.

Key Facts Statement

Features
  • Currency: USD
  • Down Payment: 25%
  • Repayment Period: 5 years for new cars & 4 years for used cars
  • File Fees: 150 USD; 250 USD if the financing amount exceeds 30 K USD
  • Profit Rate: 5% for new cars and 6.3% for used cars
  • Monthly Payment: not to exceed 33% of the monthly income
Conditions & Required Documents
  • Applicant must be at least 21 years old
  • Minimum Salary: USD 600 or or its equivalent in LBP
  • Authenticated Salary Certificate
  • Bank Account Statement for the past 6 months (if applicable)
  • Proof of residence, electricity bill or mayor's certificate
  • Life & permanent total disability Takaful insurance
  • All risk Takaful insurance
  • Vehicle Mortgage
  • Red Plate Mortgage (if it is a Taxi)
  • Other Guarantees: case by case

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