What is the Additional Expense?
When you want to buy a car with bank finance you have to remember about these additional expenses apart from the car value. An additional expense that we mean on the road expense, like bank processing fees. showroom evaluation. registration test. recovery, gateway fee, auto protecting fee RTA fee, open file, service charge, new number plate, export passing. export documents, registration number open (traffic code number) registration, etc. may be all its will not happen in one deal. jut for your reference
what is the down payment
At present bank policy minimum a 20 % down payment should be payable to the bank. In some cases, the bank can ask for a more down payment. maybe working company strength is less, new join in the company much more reason. bank credit will decide this, When we submit the document to the bank credit department will check your repayment capacity, That means if you have repaint capacity bank will ask you to make an evaluation from bank listed showrooms or agency (from the dealer) from that amount bank will approve 80 % or less .and bank will ask you to pay 20 % or more down payment to the bank.
What is the bank Processing Fee
All these banks have a small amount of processing fee depend upon the amount we took from bank minimum 500 or 1 % on Dubai Islamic bank if salary transfer to Dubai Islamic bank till 100000 processing fee only 1000 dirhams if salary transfer to some other bank then processing fee 1100 DHS, if loan amount more than 100000 then processing fee 1500 If salary to dib if salary transfer to another bank 1600 if emirates NBD bank 1% or minimum 500 DHS for loan amount but they have 1000 DHS for auto protection fee emirates Islamic they have 500 DHS till 100000. ADCB 1% of loan amount All it can be changed, only saying at present.
What is the Evaluation
When we submit the document to the bank will check your repayment capacity only, That means if you have a repaint capacity bank will ask you to make an evaluation from the bank listed showrooms or dealer (agency). from that amount, the bank will approve 80 % or less.
What is the Auto Protecting Fee
Some banks will charge for a loan protection fee. Some bank it’s monetary. Some bank not monetary its like insurance and bank terms and condition will be applicable on this The entire bank doesn’t have this policy
Why RTA Registration, test, and Recovery van service
RTA Test required to register the car or export the car. that means be 4 we register the car we have to certify the car from the RTA that car is okay for all kind of safety fetchers If the car is going to register in other emirates may be required for the export test .as well If the car doesn’t have number plate maybe we can take the car by Crain only, (Recovery van) it will more safety when we move the car from one place to another place
Why need to Open a file in RTA
We can register the car only were have a visa- for emirates nationality, it's not applicable_ now, as per RTA new rule that you buy a car from Dubai and u don’t have a traffic file in Dubai we have to open a traffic file even you register or transfer the car and it will cost you approx minimum 200DHS. Before it was free to open the file now it's chargeable, from RTA
Why Export the Documents
We can register the car only were have a visa-now as per RTA new rule if u don’t have a traffic file in Dubai we have to open a traffic file it will cost you approx. 200- to 250 DHS Before it was free to open the file, but sometimes we can avoid this if u have a traffic file in Dubai before. If no file in Dubai even for export, now it's chargeable. If it is necessary that you have to export the car to other emirates its will cost you depend upon emirates traffic department
Car Registration
We can register for the car only were have a visa. Now as per RTA new rule if u don t have a traffic file in Dubai we have to open a traffic file it will cost you Before it was free to open the file, now it’s chargeable, in Dubai registration fee will be with number plate 475 to more depend upon circumstances But next year for renewal it will be normal only 320 to more , all other emirates its will be approximately same (this all approximate only changes can be happened to depend upon circumstances)
Service Charge and Commission
Any deals if we assist you we have a small amount of service charge will apply. In Dubai 300 DHS and other emirates 500 DHS. We have no commission if we don’t spend money in front of any deal if we spend an amount of approximately only a maximum of 2% p/a , If a loan is considered for 5 years. don't worry about or commission, you can buy a thrust car from an individual seller . and your seller needs immediate cash we pay to your seller we take care about your down payment, and we take care about loan part reg, etc
why need Insurance and when I apply
Any cargoes for registration should have 13 months of valid insurance. There is any kind of insurance that can available in the market depend upon what service we included and depended on the insurance company, the insurance premium we can know once the amount quoted by the insurance company Because if the car going to mortgage with any bank finance it should have full insurance. Third-party insurance will not applicable Because insurance value should be total price applied And from the insurance company we have to submit original hire purchasing to the bank. This is only for the first year, from the second year you can choose as per convenient. The insurance premium will consider your age and length of your driving licensee and value for the car. All insurance company has a different policy. On that cause, sometimes if you have a home country license can be added with the document to cover the extra premium. but the age we can’t cover with any other document we should pay for it
All these notes just for information only,
Hey, listen Nobody going to explain to you this much. We just try to make more clear. Even if somebody tells you or not this will be going to happen in the end. Maybe this is not all going to happen in one deal All depend upon document so if there are professional people to assist you it will get you more benefits and easier Many more options with us. All these we can arrange, all depend on document, circumstances, and bank policies tell us what you really looking for we are here to assist you Call or what's app us we are here at your service.