Individuals

Individuals

Financing / rental of used and new cars ( Mequad program) for individuals

 

The company provides all types of cars, whether used or new, to meet the needs and satisfy the desires of all customers and to suit their financial possibilities, and the company provides the opportunity to choose from a wide range and without any restrictions so that the customer is absolutely free to choose the car that suits him whatever its price or type is.

Advantages of Mequad program for individuals:

  1. Complies with the provisions and principles of Islamic Law.

  2. The possibility of financing any new or used car desired by the client according to the credit limit available to him.

  3. Low down payment with the possibility of a payment in installments easies commensurate with the monthly income of the client and for a period of up to 60 months.

  4. Competitive profit margin starting from 5.5%.

  5. Immediate approval and obtaining the vehicle within 48 hours.

  6. Services package offered to customers at competitive prices.

  7. No grantor needed.

  8. Available to all nationalities.

  9. No salary transfer needed.

  10. Ability to travel outside the Kingdom.

 

Required Documents for Consumer

  1. Fill in the Purchase order form.

  2. Picture proof of Identity & valid Driving license.

  3. The definition of the employer including the job title, date of admission to employment and gross monthly income.

  4. Quotation for the required car.

  5. Bank statement of account for the last three months.

 

Financing Terms for Conumer

  1. The service with the employer should NOT be less than 6 months.

  2. Gross salary is NOT less than SAR (4,500).

  3. The customer age is NOT less than 21 years.

  4. The annual percentage rate is competitive and starts from 10.36%.

 

 

 

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Individuals