Auto Lease Example
|
Asset Type
|
Vehicle
|
|
Vehicle Price
|
SAR 162,034.8
|
|
Down payment
|
0%
|
|
Loan term in months
|
60 Months
|
|
Profit rate
|
1.70% ( profit rate differ based on customer segment)
|
|
Insurance rate
|
2.50% (Insurance rate is based on customer record, vehicle type and in case of claims.
|
|
Annual percentage rate (APR)
|
6.45%
|
|
Administrative fees
|
1% of loan amount or SAR 5,000 whichever is lower.
|
* The above are only examples, as the prices are subject to change if there are influencing factors such as the customer's credit history. - Last Updated: 31/12/2024
Example of monthly installment based on down payment
|
Down payment
|
0%
|
5%
|
10%
|
|
Loan terms in months
|
60
|
60
|
60
|
|
Loan type
|
Ijara
|
Ijara
|
Ijara
|
|
Profit rate
|
1.70%
|
1.70%
|
1.70%
|
|
Loan amount
|
SAR 162,034.8
|
SAR 153,933.1
|
SAR 145,831.3
|
|
Monthly installment
|
SAR 2,098
|
SAR 1,952
|
SAR 1,805
|
|
Annual percentage rate (APR)
|
6.45%
|
6.5%
|
6.67%
|
* The above are only examples, as the prices are subject to change if there are influencing factors such as the customer's credit history. - Last Updated: 31/12/2024
Pricing
|
Product
|
Profit rate type
|
Minimum profit rate
|
Annual percentage rate (APR)
|
|
Auto Lease
|
Ijara
|
0% 2Y
|
5.9%
|
|
5% 5Y
|
12.02%
|
* The above are only examples, as the prices are subject to change if there are influencing factors such as the customer's credit history. - Last Updated: 31/12/2024