Al-Futtaim Automotive's exclusive financial tie-up is a bold move by the UAE's largest motor vehicle distributor to unlock this credit hold on the country's automotive market.
Representing some of the world's most popular and desirable brands: Toyota, Lexus, Honda, Volvo, Chrysler, Jeep and Dodge, Al-Futtaim Automotive is globally acknowledged as the pioneer in the region's auto industry, supplying four out of every ten cars on the UAE roads.
Under this exclusive scheme auto loans will be possible to those customers earning a monthly salary of Dhs4,000 and above, a considerable improvement on the current typical salary criteria of Dhs10,000. As well as this relaxed minimum salary level the scheme offers Al-Futtaim Automotive's customers the benefits of zero down payment and interest rates from a highly competitive 5.5%. Loans will be available at all Al-Futtaim Motors and Trading Enterprises showrooms in the UAE.
Colin Leitch, Group Director, Al-Futtaim Automotive, said:
"Lending institutions play a very important role in automobile sales. We are confident that this partnership with UAE's leading banks will help our customers get the best deals with minimum hassle and in turn reinvigorate UAE's automobile industry by turning back the clock to a time when the ability to buy a car was not constrained by financial challenges."
"Our objective is clear: provide potential consumers an opportunity of owning the best value car with no fuss," Mr. Leitch added.
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