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Car Loans
Finding the right car is only half the journey. It's important to get the right financing too, so you can always rest
easy on the road.
A few things to keep in mind when considering a loan
Getting down to business. Try to manage a good down payment towards your car loan. This will help to reduce your monthly installments.
New or pre-owned? There may be different allowances and limitations with a car loan depending on whether or not you plan to buy a new or pre-owned vehicle. Best to be clear about this while applying.
Decide on the duration of the loan. Check what options are available and over how many years you would like to finance the car.
Be sure you have all the necessary requirements for car ownership, such as auto insurance and that your valid driver's license is ready to go.
Make smart choices when it comes to your budget. Don't limit yourself as far as vehicle preferences so that you make the right choice for you - and for your finances.
Here's a great resource to explore if you'd like to learn more about car loans: How to Finance a Car the Smart Way | MoneyUnder30.
Types of Car Loans
Car Loans for Self Employed Individuals
Embrace the road ahead with the FAB Car Loan for Self Employed Individuals.
- Loan amount of up to AED 1.5 million or 80% of the car value
- Rates starting 3.44% equivalent to 6.43% reducing rate per year
- A minimum average balance of AED 25,000 for the last three months
Car Loans for Salaried Individuals
Own the car of your dreams with the FAB Car Loan for Salaried Individuals.
- Loans of up to AED 1.5 million or 80% of the car value
- Interest rates starting 2.35% (equivalent reducing rate of 4.46% per year)
- Minimum monthly salary of AED 7,000
Green Car Loan
Switch to an eco-friendly electric car with Tesla and FAB.
- Loans available for new and previously owned Tesla cars
- Enjoy best-in-class interest rates on the electric car of your choice
Explore a variety of loans to suit your needs
Take a look at some of our additional loan products and services. Learn more about finding the right loan you need.
Personal Loans
Take care of your personal financial needs with our FAB Loans. Find the one that works for you.
Secured Loans
Get a secured loan against your fixed deposits with FAB.
National Loans Scheme
Developed by the Central Bank of the UAE.
Buyout Loans
Take control of your finances by moving your loans to FAB.
The eligibility requirements will vary based on whether or not you are self-employed or a salaried employee. For employees, they should receive a minimum monthly salary of AED 7,000 and for those who are self-employed, they should have a monthly average balance of AED 25,000. More information on eligibility can be found here.
Yes. The minimum down payment required is 20% of the value of the car. Please reach out to a member of our team or learn more here.
You can receive a loan of up to AED 1.5 million or 80% of the car value (this varies depending on the individual auto loan application). You can use our handy Indicative Loan Calculator to get an idea of what your monthly installments may be.
The minimum salary requirement for an auto loan with FAB is AED 7,000 for salaried individuals, and AED 25,000 of 3 month average account balance for self-employed individuals.
The age of the vehicle should not be more than 8 years at time of maturity of the loan; however, for vehicles sold by key dealers like Al Tayer/Premier Motors, Al Habtoor, Abu Dhabi Motors etc, it can be up to 10 years at maturity of the loan.
Yes! FAB offers car loans for self-employed individuals. You can find all the details here.
Application processing fee of 1% of the loan amount is applicable.
Other charges include the interest component.
For used cars, a dealer valuation fees (payable to the valuator) may be applicable.
Other charges include the interest component.
For used cars, a dealer valuation fees (payable to the valuator) may be applicable.
You can enjoy competitive interest rates on your car loan with FAB ranging from 1.99%* - 3.49% (flat rates) depending on the type of car, and internal bank policies.
*Flat rates are for illustration purposes, the applicable effective interest rates on car loan range between 3.79% to 6.51% per year.
*Flat rates are for illustration purposes, the applicable effective interest rates on car loan range between 3.79% to 6.51% per year.
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