• Car Loan Documents Required in the UAE

    Introduction

    Car loan is your best bet when it comes to availing finance to purchase a car. Banks in UAE provide car loans to purchase used and new cars. The finance amount granted depends on the type of car, down payment made and the eligibility criteria of the car loan applicant.

    The applicant needs to fulfil the eligibility criteria set out by the bank in order to apply for the loan and once the applicant applies for the loan they have to take the process further by submitting documents required by the bank for the car loan. If the applicant fails to submit the required documents, they might lose out on the car loan.

    Documents Required for Car Loan

    Both salaried and self-employed individuals are eligible for the loan. Listed below are the general documents that needs to be submitted to avail a car loan.

    Documents Required:

    Salaried Individuals

    • Application form for the car loan
    • Valid visa
    • Driving license
    • Salary certificate
    • Bank statement(3-6 months depending on the bank)

    Documents Required:

    Self-employed Individuals

    • Application form for the car loan
    • Valid visa
    • Driving license
    • Proof of income
    • Partnership certificate in case of partnership in business
    • Bank statement(3-6 months depending on the bank)
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