Understand the basics of financing your car
From finding finance to preparing the documents you need, we take you through all the steps involved in buying a car
Dubai’s love affair with wheels is legendary. In a city where petrol prices are among the cheapest in the world and walking around isn’t an option for most of the year, shopping for a car is one of the first things to check off the to-do list after landing in the land of plenty.
Given the tax-free economy, automobiles are more affordable here compared to other parts of the world, offering people the opportunity to buy a car that they could not have afforded otherwise. But despite the comparatively high affordability factor, most people need car financing.
GN Focus gets expert dealers and financiers to help you negotiate the lengthy and time-consuming process of getting your first car loan so all you have to think about is where to go for your first long drive.
Documents bank require for SME — Small and Medium Enterprises:
1) Memorandum of association
2) Partnership deed
3) Six months of company’s bank statements
4) Copy of a valid trade licence.
5) Authorised signatory’s power of attorney
6) Audited financial statement
7) Passport copy and Emirates ID of all partner
