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How to Buy a Car on Lease in Saudi Arabia

Nowadays many finance companies, banks and vehicle dealers are offering Vehicle Finance, with or without a down payment (Advance Payment).

Generally, most installment companies provide 48 – 60 Months Installment Plan with a maximum of 25 percent Last Payment: Lease transfer procedure of Al Yusr finance co.  

Use this Installment Calculator to get a basic idea

Here are the Steps to Apply for Vehicle Finance.

  • Decide which vehicle you want to buy
  • Get a Quotation from Vehicle Dealer or Marad (If it is a used vehicle, it should not be older than 3 years)
  • Prepare the Following Documents
  1. Salary Certificate from Your Employer with Chamber of Commerce Attested
  2. Original and Copy of Iqama
  3. Passport Copy
  4. House Rent Agreement Copy
  5. Electricity Bill
  6. Location Map of both Your Home and Work
  7. National Address Registration Copy
  8. Copy of your ID in your home country
  • Submit all these documents to your Financier

After a few days of your Submission, a representative will visit your work location for the Verification Process. He will submit his report after verification,

If your application is approved you will receive a confirmation call or SMS from Financier, then you can go for the dawn payment (if required) to get registered the Vehicle.  

Financier will issue a drivers Authorization Letter which you can renew every 3 months. 

After all the installments and final payments paid, the Financier will transfer full vehicle ownership to your name. 

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