Financial Information
What are the interest rates for car financing / lease to Saudi Arabia?
Having recently arrived in Al Khobar, I know, the interest rate. Need thank you!
response of BK BCN
contact, they are currently the only bank in Saudi Arabia with a rental car program décent.d other banks you do not get personal finance that you can buy a car.
Your Answer:
It is between 5% to 8% from bank to bank and depending on your history with the bank.
NOTE 1:
You will pay it per number of years. for example: a car price is 100K and the rate is 6%.If you want to pay it within a year you have to pay net of 106K .
If you want to pay it with in 2 years, it will cost you 112K.
NOTE 2:
REGARDLESS OF HOW MUCH YOU IS YOUR DOWN PAYMENT, THE INTEREST IS PER THE TOTAL PRICE F THE CAR NOT PER THE REMAINING!
THE DOWNPAYEMT WILL BE USED TO REDUCE THE MONTHLY PAYEMNTS ONLY.