Al-Futtaim Finance PJSC Auto Loans

Minimum Salary
6.000,00 د.إ

Flat Rate
3.69%

Reducing Rate
AED 5.99%

Maximum Term
5 Years

Monthly Payment
AED 16,600

Description

Al-Futtaim Finance (AFF) is a licensed CBUAE-regulated auto finance provider and broker rather than a bank. It arranges lease and loan facilities through its dealer network and partner banks. AFF itself does not publish standalone interest rates or fees; instead, it sources competitive packages—Conventional or Islamic—from leading UAE banks on behalf of customers.

Features

Product Structure & Rate Sourcing

Lease-to-Own (Hire Purchase): 20% down payment; equal monthly instalments over agreed tenor.
Operating Lease: Fixed rentals; vehicle returned at end of term.
Partner Banks: Packages underwritten by banks such as ADCB, ADIB, Emirates NBD, RAKBANK, and others.
Rate Types: Vary by lender—flat-rate fixed, reducing-balance, Murabaha profit margin for Islamic deals.

Indicative Financing Terms

Parameter	Range (Bank-Provided)
Flat Rate p.a.	From ~1.99% (Green/EV) to ~5.50% (market)
Reducing-Balance Rate p.a.	From ~3.75% to ~10.24%
Tenure	12–60 months (up to 72 on select bank offers)
Down Payment	20–30% of vehicle value
Finance Amount	Up to AED 1.5 M (new cars); varies by bank

Eligibility

Age 21–65 at maturity
UAE nationals, GCC nationals, and expatriates
Minimum salary per bank policy (AED 5k–8k p.m.) or self-employed turnover criteria
Acceptable CBUAE credit record

Fee & Charge Schedule

Charges depend on the selected bank; typical ranges include:

Fee Type	Typical Bank-Levied Charge
Processing/Due Diligence Fee	1.00%–1.05% of financed amount (min AED 500–525)
Early/Partial Settlement	1.00%–1.05% of outstanding balance
Late Payment Fee	AED 50–210 per missed instalment
Post-Dated Cheque Replacement	AED 100 per cheque
Instalment Deferment/Postponement	AED 100–200 per deferment; 1 free per year
Cooling-Off Period	5 business days; full refund of processing fee
Vehicle Pledge Release	Free (RTA fees apply separately)

Documents Required

Emirates ID; passport + UAE visa copy
Valid UAE driving licence
Dealer proforma invoice addressed to partner bank
Salary certificate + last 3 months’ bank statements (salaried)
Trade licence + last 2 years’ audited financials (self-employed)
Completed application and post-dated cheques or ECS mandate

Additional Info

One-Stop Dealership Finance: AFF coordinates documentation, application, and disbursement with partner banks on site.
Competitive Sourcing: Access to multiple bank offers and promotional deals (e.g., green-car discounts, zero processing-fee campaigns).
Flexible Options: Conventional and Sharia-compliant structures; lease-to-own and operating-lease models.
Value-Added Services: Seven-day money-back guarantee on certified pre-owned; trade-in assistance; instant valuation tools.
Fast Turnaround: Credit decisions often within 24–48 hours; funds disbursed upon full documentation.
Digital & On-Site Support: Online eligibility check, dealer-based finance specialists, and mobile apps for repayment tracking.