ADIB Used Car Loan

Abu Dhabi Islamic Bank (ADIB), renowned for its customer service, is among the customer favourites due to offering attractive facilities, speedy services, a wide range of financial products, and more. These aspects, combined with a competitive interest rate, allow ADIB Used Car Loan to provide sufficient assistance to users seeking their dream car. 

ADIB Used Car Finance Plan

ADIB has several features that make your journey towards acquiring a car hassle-free. Their easy online process allows you to receive your auto financing loan in a short span. The bank also provides a high loan amount that can go up to AED 1 million. Moreover, such a high financing amount is provided at affordable profit rates by ADIB Used Car Loan. 

To know more about the key benefits and requirements of the plan, check out the following sections.

Note: The mentioned profit rate is specified as the starting rate. The actual interest rate for ADIB Used Car Loan will depend on the loan amount, select tenure, applicant’s salary, and other such factors. 

Feature & Benefits of ADIB Pre-Owned Car Loan

Here are some reasons why you can finance your car with the Abu Dhabi Islamic Bank:

1. High Loan Amount - The maximum loan amount provided by ADIB car loan is AED 1 million for United Arab Emirates nationals, AED 500,000 for expatriates with salary transfer, and AED 350,000 for individuals not opting for salary transfer.
2. Flexible Loan Tenures - Depending on your needs, you can choose the length of time for your auto loan repayments for up to 5 years. While a long loan period means a higher payment of interest, shorter tenure will bring higher installments. With ADIB providing options in both long and short loan tenures, you can pick one as per your financial considerations.
3. Low Rates of Profit - With profit rates beginning at merely 1.99% per annum, ADCB auto loan customers can make considerable savings on their loan plans.
4. First Instalment Payment at Ease - After acquiring a car, you might fancy the installation of novel equipment for it. With ADIB used car loan, you can easily make such additions or manage funds for easy loan repayment as the bank allows you to take up to 90 days for the first payment of your monthly installment.
5. Car Insurance - To protect you from any eventualities, ADIB offers car insurance as an optional feature for your pre-owned car loan. This covers all the basic and optional insurances for your car and its accessories as well as third-party liabilities.
6. Installment Postponements - You can enjoy one annual installment deferment with Abu Dhabi Islamic Bank car loans without any fee. This feature ensures the availability of sufficient time to fulfil the payment in case an individual is unable to pay it in a particular month.
7. ADIB Wheels Deals - To provide you with some of the greatest car deals available in the UAE, Abu Dhabi Islamic Bank has associated with renowned auto dealers. You can now easily pick up your preferred car at exclusive profit rates and benefits for a seamless experience.

ADIB Used Car Loan Interest Rate

Documents Required for ADIB Used Car Loan

Keep the following documents accessible If you are applying for a used car loan in UAE with ADIB.

Salaried Applicants for ADIB Used Car Loan

• Driving License
• Emirates ID
• Passport ID
• Recent Utility Bill
• Last 6-month Bank Statement
• Recent Payslip
• Dealer Quotation or Car’s Proforma Invoice

Self-employed Applicants for ADIB Used Car Loan

• Driving License
• Emirates ID
• Passport ID, EIDA card, and VISA copy
• Trade License
• Last 3-month Individual Account Bank Statement
• Last 3-month Corporate Account Bank Statement
• Existing Liabilities and Loans details
• Power of Attorney copy (if applicable)
• Dealer Quotation or Car’s Proforma Invoice

Eligibility Criteria for DIB Used Car Loan

If you are considering applying for a car loan in UAE with the Abu Dhabi Islamic Bank, you must be aware of the eligibility norms pertaining to the application and documentation process. Discussed below are the major aspects of car loan application eligibility.

How to Calculate ADIB Used Car Loan Monthly Instalment in the UAE?

Being aware of all the involved facts and numbers of a car loan is essential to secure an optimum deal, with the monthly instalment being perhaps the most important one. While calculating the instalment is fairly simple, it can get complex due to the number of variables involved. An easy way out here is the ADIB auto finance calculator, which allows users to get the approximate amount on their screen. Simply visit the official ADIB website and locate the car loan calculator. Enter a few details like the loan tenure, applicable profit rate, etc., to have the results shown to you. 

You can always check out the Abu Dhabi Islamic Bank website to apply for a car loan online or visit a branch to do the same in person. Another option here is to apply with policybazaar.ae. On our website, you can discover the best used car loan plans in the UAE and purchase a suitable one right away. Visit the ‘car loans’ section on policybazaar.ae to start the process.

Before initiating your search for a used car loan in UAE, here is a glimpse of some short yet significant details regarding the loan plans. 

FAQ's