Emirates Islamic Used Car Loan in UAE

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Buying a car, even if a used one, can be an expensive affair owing to the several costs involved. However, you will discover plenty of ways to drive away with the car of your choice without worrying about the charges in the form of a used car loan in UAE. With Emirates Islamic Used Car finance, buyers in the UAE enjoy enticing discounts and finance deals that help them buy their cars comfortably.

Emirates Islamic bank is one of the most trusted banks in the UAE. Known for its prompt customer service and high transaction security, Emirates Islamic bank caters to individuals, small businesses, as well as large corporations. It is also renowned for its car loan plans for both new and used ones. So if you are searching for a used car loan in UAE, you can check out the key features of Emirates Islamic used car loan below. 

Emirates Islamic Pre-Owned Car Loan Plan

With the bank prioritising the accessibility and convenience for customers, bringing a car into your home has greatly been simplified with the Emirates Islamic Used Car Finance. Widely counted among the best pre-owned car finance plans available in the UAE, this plan provides a flexible tenure and quick processing to users. Moreover, you can secure a high loan amount of up to AED 1,500,000 at affordable interest rates with the Emirates Islamic Used Car Loan.

Plan Name

Emirates Islamic Car Loan

Minimum Salary Requirement

AED 4,000 AED per month

Flat Rate

Starting from 2.15% per annum

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Features & Benefits of Emirates Islamic Pre-Owned Car Loan

Find below a detailed description of the key features of Emirates Islamic Used Car Loan plans.

  1. Flexible Loan Tenure - Emirates Islamic Bank offers a maximum 5-year long tenure, with the minimum available tenure for Emirates Islamic used car loan being 1 year. Such a wide range of tenure allows users to pick one as per their requirements. So whether you want to go for shorter tenure with higher instalments or longer tenure with lower instalments yet higher interest, you can find the right loan tenure for you with a plan that suits your borrowing needs.
  2. Large Loan Amount - With loan amounts going as high as AED 1.5 million, you can easily finance your dream car without any apprehension. Nevertheless, it is recommended to keep your budget in mind and select a loan balance that keeps your debt-to-income proportion reasonable. 
  3. Modest Interest Rates - On used vehicle loans, Emirates Islamic Bank provides excellent interest rates in the UAE. For pre-owned cars, the base annual interest rate is 2.15% for nationals & 2.29% for expatriates. Even if you plan to purchase a regular used car, the rate remains affordable as it then begins at 2.49% per annum. 
  4. Quick Loan Processing - To turnaround your dream of owning a car into reality, you can utilise Emirates Islamic used car loan and do the required in just a few hours. Recognising the importance of acquiring a car with minimal hassles,  Emirates Islamic has made its car loan application process simple and hassle-free.
  5. Pre-owned Auto Financing - Buying a used car is easy with Emirates Islamic Bank. The bank offers used car loans with attractive interest rates, which are even better if you go for certified pre-owned cars.
  6. High Financing Ratio - Emirates Islamic Bank auto loan adheres to the UAE financing guidelines and provides the option to receive financing of up to 80% of the value of your car and make the rest 20% payment in the form of a down payment.

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Emirates Islamic Used Car Loan Interest Rate

Emirates Islamic Used Car Finance Type

Rate of Interest for UAE Nationals Beginning at

Rate of Interest for Expatriates Beginning at

Pre-owned Car Loan

2.49% per annum.

2.59% per annum

Certified Pre-owned Car Loan

2.15% per annum

2.29% per annum

Documents Required for Emirates Islamic Used Car Loan

The list of documents you will need to submit can often be lengthy, which may complicate the process of obtaining an Emirates Islamic used car loan. However, you can refer to the handy list of required documents below for a smooth application experience.

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

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Eligibility Criteria to Apply for Emirates Islamic Used Car Loan

Certain criteria have to be satisfied before you apply for a used car loan with the Emirates Islamic bank.

Age Requirement

21-65 years


UAE and Expatriates

Salary Requirement per Month

  • AED 4,000 or more for salaried Applicants
  • AED 20,000 or more for Self-employed Applicants

Credit Score

A good credit score is a must

Down Payment

20% of the car value

How to Calculate Emirates Islamic Used Car Loan Equal Monthly Payments in UAE?

The Auto Finance Calculator is a useful tool by the Emirates Islamic bank that can help you determine the approximate amount you will have to make available for your monthly payment on your car loan. All you need to do is enter the model and the year of manufacturing of the car along with other necessary details to have the result on your screen.

If you found the features of the Emirates Islamic Used Car Loan suitable for your financial conditions and plans, you can apply for it instantly with policybazaar.ae. Besides ease of purchasing, the most significant aspect of our website is that you can make all the comparisons in one place with minimal effort. Check out our website’s ‘car loans’ section to proceed.


How long will it take to process my Emirates Islamic Bank Used Car Finance application?

You can request an early settlement of your Emirates Islamic Bank Car loan for up to AED 10,500.

How much income do you need to make each month to qualify for a used car loan from Emirates Islamic Bank?

In order to be eligible for an Emirates Islamic Bank pre-owned car loan, you need to fulfil the following salary requirements:

  • AED 4,000 AED or more for salaried applicants
  • AED 20,000 or more for self-employed applicants
Can I change the date of the loan payments?

Yes, you can contact the bank and change your monthly payment due dates.

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