Commercial Bank of Dubai (CBD) Used Car Loan in UAE

Check and Compare CBD car loan interest rate on used and new cars

We Are Rated

4.6/5

18,000+

google-logoReviews
1 Million+

Trusted Customers

50+

Insurance Partners

250K+

Policies Sold

Financing a vehicle can always prove challenging, especially if you're trying to do so within strict financial constraints. Moreover, this generally holds true even if you go for used cars in UAE. In such cases, having a car loan can prove highly beneficial. Owing to several benefits and features, a large number of individuals turn to CBD Used Car Loan for all of their car loan needs. With flexible terms and ease of access, these car loans by CBD simplify the purchase of pre-owned cars to a great measure. 

Consequently, if you wish to buy a used car loan in UAE, the option provided by CBD is an apt one due to its variety of features available at affordable rates. Given below are some key details regarding CBD Used Car Loan, how it can help you avail of a pre-owned car, and the most notable requirements and procedures associated with the plan.

CBD Used Car Finance Plan

Whether you are a resident or an ex-pat in Dubai, the Commercial Bank of Dubai makes it easier for you to buy your dream car by offering attractive deals. You can pay off your new vehicle loan in affordable monthly payments by opting for CBD used car loan.

The central plan regarding used car loan in UAE offered by this bank is the CBD Tamweel Car Loan. You can check out the major details and associated features with this plan below.

Plan Name

CBD Tamweel Car Loan

Minimum Salary Requirement

AED 8,000 per month

Flat Rate

Starting from 2.18% per annum

Apply Now

 

Feature & Benefits of CBD Used Car Loan

While you can find plenty of benefits for CBD used car loan, the most relevant ones are discussed below for your consideration.

  1. Competitive Rates of Interest - With an attractive flat rate starting at 2.18% available for financing both new and pre-owned cars, the Commercial Bank of Dubai auto loan allows all its customers to access a range of high-quality products and service solutions tailored to meet their personal and professional needs.
  2. New and Old Car Financing - The customised offerings of CBD are designed to help you finance a wide range of vehicles — new or old —based on your preference and budget requirements. 
  3. Prompt Processing  - Applying for a loan with the Commercial Bank of Dubai is quick, easy, and convenient. Its simple application process can generally be finished in only a few hours and requires only your basic personal information related to income and employment status.
  4. Flexible Loan Tenures - CBD provides the option to repay the loan within any duration ranging from 12 to 60 months. This flexibility ensures that customers can choose a tenure matching their requirements. Such flexibility is also afforded later, with the rescheduling of the tenure possible at a later date during the loan tenure.
  5. High Loan Amount - Understanding the requirements of a wide range of clients, the Commercial Bank of Dubai provides a large loan amount for auto loans in Dubai, which equips clients with sufficient funds to even go for expensive cars. The highest allowable debt burden ratio is 50% for earning applicants and 30% for retired pensioners.
  6. Conventional and Islamic Auto Loans - CBD provides some of the best car financing solutions in the UAE, with their car loans available in two types of financing options – conventional and Islamic finance. One can opt for conventional or Islamic car loans depending on their personal preferences, with each one coming with a set of features.

Compare Car Loan - Policybazaar uae

CBD Used Car Loan Interest Rate

Interest Rate Type

Rate of Interest

Fixed Rate of Interest

Starting from 2.18% per annum

Documents Required for CBD Used Car Loan

The first step in applying for a used car loan in UAE with CBD is to be aware of the documents required at the time of application. While the exact documents asked from you may depend on several variables, the fundamental ones required for most applications are as follows:

  • Driving License
  • Emirates ID
  • Resident’s Visa (for expatriates)
  • Passport ID
  • Security Cheque
  • Last 3-month Bank Statement
  • Recent Payslip
  • Dealer Quotation or Car’s Proforma Invoice
  • Car Registration Documents (if applicable)
  • Borrower’s Emirates ID (if applicable)

Eligibility Criteria for CBD Used Car Loan in UAE

Car loan application eligibility is a significant factor to consider before deciding whether to apply for the loan or not. While fulfilling the criteria for CBD used car loan is simple, applying for it without actually meeting the requirements can lead to immediate rejection, which may reflect on your credit Score.

With that said, here are the major requirements regarding used car loans in the country with CBD.

Age Requirement

  • 21-65 years for UAE Nationals
  • 21-60 years for Expatriates

Residency

UAE and Ex-pats

Monthly Salary Requirement

AED 8,000 or more 

Credit Score

good credit score needed

With the number of documents required as well as the applicable eligibility criteria, applying for an ADCB Used Car Loan can appear challenging. You can easily skip the complications by buying the plan with policybazaar.ae. With expert advice always available, all your queries can be solved quickly. Moreover, you can also view various used car loan in UAE plans and buy one of your choice.

Go to the car loans section on our website to search more about this plan as well as the other car loan plans in UAE

discount offers - Policybazaar uae

How to Calculate CBD Used Car Loan Easy Monthly Payment in the UAE?

With several factors to be evaluated to obtain a vehicle loan, one may not find it feasible to undertake the tedious calculations related to monthly payments. This issue, however, is easily solved with the innovative CBD Auto Finance Calculator. This tool by the Commercial Bank of Dubai is available to all customers in order to simplify the complex process of acquiring a car loan. You can simply enter a few details concerning the loan and find out the estimated monthly installment in a few seconds.

With several car options available in the UAE, getting the best deal can often prove challenging. The only way to ensure that you make the best choice when buying a car loan is to be equipped with adequate information. To make an informed decision, have a glance at some more details regarding CBD car loan plans in the UAE.

FAQ's

Would the bank consider an early settlement for my car loan?

Yes, you can apply for early settlement of your loan with the Commercial Bank of Dubai.

Is it possible to reschedule my CBD car loan?

Yes, you can reschedule your loan with the Commercial Bank of Dubai. However, as the actual conditions of rescheduling may depend on the bank, verify with CBD to avail of this feature.

 

How to get a CBD used car loan?

To apply for CBD used car loans, visit the official CBD website and fill out the application form for your chosen plan. You can also apply for CBD car loans on our website, with the facility to view and compare the best plans enhancing your insurance purchase experience.

How much do you need to earn per month to take out an ADIB car loan?

Commercial Bank of Dubai specifies that customers must have a monthly income of at least AED 8,000 in order to be eligible for a pre-owned car loan.

Can I get a car loan from the Commercial Bank of Dubai if I don't have an account with them yet?

Yes, you can apply for a loan to finance your car even if you are not an existing account holder. However, you will be likely to receive a higher interest rate and may be requested to submit additional documents as well.

Reviews & Ratings

4.6 / 5 (based on   18,147 +google icon reviews)

More From Car Loans