Purchase New Car Bank Financing Monthly installment Saudi Arabia

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Saudi Arabia steps and procedure of getting new car via bank installments and document requirements. The Banks are financing car loan via monthly installment against the incoming statement or earning statement.
Monthly installment new CAR via Bank
Monthly installment new CAR via Bank

Before Applying for Car financing via Banks

  1. Make sure you are getting income every month or salary is not delay from the employer.
  2. Ensure that you have the bank account and all income or salary is depositing to your bank account.
  3. Request the bank account statement for the last three months with the stamp from the bank.
  4. Ask yourself if you are staying within Saudi Arabia for next installment duration such as 2 years to 5 years.

Documents required for applying car finance via monthly installment


  1. Valid Iqama Copy.
  2. Driving License valid at least for next three months. 
  3. Last three months bank account statement.
  4. Letter from your current Sponsor stating the salary and monthly payroll and attestation from the Chamber of Commerce.
  5. Passport Copy
  6. Current resident address with the street maps such as Google Map pinpoint in Saudi Arabia with contact details and employer contacts.
  7. Home resident address in your country with contact information.
  8. Any friend contact information such name and mobile number.
  9. Down payment depends on the CAR type you are choosing. 

Related to the driving:

The procedure of getting new car via banking finance monthly installment.

  1. Visit the nearest showroom of the vehicle to choose the vehicle.
  2. Talk with sale representative on the selection of favorite car.
  3. Sale representative of the showroom will print out the total cost of the car.
  4. Submit the full cost including the bank account statement and all related documents to the bank representative station within same car showroom.
  5. Wait for approval sometime 3 to 7 days to get SMS notification from the concerned bank.
  6. Visit again to the showroom for final contract signature and agreement with the bank representative.
  7. Submit the down payment if necessary.
  8. Wait for 5 to 15 days for car delivery call in case the same model car not available in the current showroom.
  9. Sign the delivery paper and receive the car key.

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HowGear: Purchase New Car Bank Financing Monthly installment Saudi Arabia
Purchase New Car Bank Financing Monthly installment Saudi Arabia
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