UAE banks speed up new car sales with 0% down payment – and first instalment after 3 months

UAE banks speed up new car sales with 0% down payment – and first instalment after 3 months

Dubai: With 2024 Model Year cars all set to arrive at a dealership near you, now could well be the time to head over and buy.

Because this time, these buyers will find that the road to owning a car is getting smoother, with more banks allowing 0 per cent down payment and even up to 3 months before having to pay the first instalment.

The deferred payments have been of the biggest help to those buyers who are new to the UAE or have just started out at a new job.

The bank offer come on top of the extra incentives dealerships have been throwing on their sales, including super-extended warranties and free insurance.

So far this year, new model launches have not recorded a significant increase in showroom prices, particularly when it comes to entry- and mid-priced cars.

“It’s great to see banks support the car industry by speeding up approval processes and lowering the cost burden wherever they can to help out a buyer,” said the general manager at a leading Dubai dealer. “We had been telling banks for long that they need to do more to help sustain the 3-year growth car sales had in the UAE.”

What the dealer says about