Auto Lease Financing

 Auto Lease Financing by Bank Albilad

24-06-2024


Having A Dream Car Is Now Easy with Bank Albilad Auto Lease Financing Program 


With Bank Albilad auto lease financing, customers who don’t have the budget to purchase a car can also get one. The process is pretty straightforward. You just have to select a car from an approved dealer or showroom and submit the documents. If approved, a few simple steps will lead the vehicle to your home.



What are the key features of Bank Albilad auto lease financing in Saudi Arabia?

  

Here's what you can expect from our car lease financing services:



Terms and Conditions 

  • Customers must be 18 years of age or older (with proper ID documents and copies available).
  • Customers must have a current account with Bank Albilad. 
  • Customers’ field of employment (in private/public) sector must be approved by Bank Albilad.

FAQs

 

What documents do I require to submit for auto leasing?

Customers must have the following documents for availing auto lease financing services from Bank Albilad:

  • Valid ID 
  • Valid driving license
  • Approved price quotation from the dealer or sub-dealer
  • Salary certificate 

For Non-Salary Transferase:

  • Open an account in bank Albilad 
  • Valid ID 
  • Valid driving license
  • Approved price quotation from the dealer or sub-dealer
  • Salary certificate 
  • Bank Statement for the last 3 month stamped or included QR Code 
  • Madad&Ojor certificate
  • National Address 


 

Is there any management fee?

The management fee is 1% of the financing amount with cap of SAR 5,000.

 

How to avail after-sales services?

For after-sales services, you may visit any of our centers located in Riyadh, Jeddah, and Dammam. You may also give us a call Albilad phone within the Kingdom: 8001230000,Outside the Kingdom: 00966920001002


How does the auto lease financing service work?

The auto lease financing process is simple with Bank Albilad. Here's a look at how it goes:

  • Visit any showrooms/dealers that are approved by the bank.
  • Fill the "Auto Lease" application form and submit documents in the bank.
  • If your request is approved, you'll be informed. 
  • Issuance of car registration and plates by the traffic department.
  • Setting up of vehicle for customer to pick up.

 

How the profit margin is calculated?

Here is an example of how the profit margin is calculated:

Customer with non-transferable salary


Auto Lease​
Car Price with VAT
80,000 SAR
​Down Payment 
​ 0%
​Finance amount
80,000SAR
Management fees 1% of the Financing Amount 
920 SAR
Finance duration
​ 60 months
​Monthly installment
​  1,016.67 SAR insurance is not included
APR*
5% insurance is not included
Balloon Payment 
32,000  SAR


Customer with transferable salary

Auto Lease​
Car Price with VAT
80,000 SAR
​Down Payment 
​ 0%
​Finance amount
80,000SAR
Management fees 1% of the Financing Amount 
920 SAR
Finance duration
​ 60 months
​Monthly installment
​  1,039.33 SAR insurance is not included
APR*
5.5% insurance is not included
Balloon Payment 
32,000  SAR


*Annual Percentage Rate (APR) varies based on amount and maturity period, while it is also subject to the customer's credit history 
* VAT included
The above calculation method is considered an example, and that prices are subject to change due to other factors.
  TERMS AND CONDITIONS APPLY.


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