Salaried Individuals buying New/Used Vehicles from Authorised Dealers.

Valid Passport Copy.

Valid UAE Driving License copy.

Copy of three months Salary or Income transfer Bank statements (longer period maybe required if cheque returns are identified).

Proof of Income - Salary Transfer Letter if Salary is not assigned to HSBC Bank or other Bank under narration Salary.

Original Quotation of Vehicle.

Repayment mechanism - Standing instruction plus security cheque from HSBC Bank.

HSBC MEFCO Application form & contract fully completed in Block letters & signed in presence of HSBC MEFCO staff.

Non-Salaried Individuals buying New/Used Vehicles from Authorised Dealers.

Valid Passport Copy.

Valid UAE Driving License copy.

Copy of six months Personal and Business Bank statements.

Audited Financials for two years.

Original Quotation of Vehicle.

Repayment mechanism - Standing instruction plus security cheque from HSBC Bank.

HSBC MEFCO Application form & Contract fully completed in Block letters & signed.

Documents in support of Business/Partnership i.e. (Trade License copy, Memorandum of Association, Articles of Association, Power of Attorney Share Certificates etc..)

For Vehicle Purchased from Non-Authorised Dealers/Individuals apart from items listed in Salaried or Non-Salaried, the following documents may be required.

Ownership of vehicle ( Vehicle Registration Copy, Transfer Paper, No Plate Certificate issued by RTA/Traffic Police.

Original Evaluation from HSBC MEFCO's Approved Evaluators upon confirmation of Finance Approval. (The Evaluation should not be less than price quoted).

In case of vehicle ownership in name of company the copy of trade license of the company will be required.

Copy of Sellers passport (if individual).

Passport copy of signatory (if seller is a company).

Where copies of Documents are required these will be obtained by HSBC MEFCO staff from originals.

In case of Hire Purchase loans, HSBC MEFCO only permits drawdown after receipt of valid insurance policy for a period of 13 months from its approved insurance providers with confirmation that insurance premium is paid & policy endorsed in favour of HSBC MEFCO.

HSBC MEFCO will also require vehicle mortgage in its favour.(Copy of vehicle in confirmation of this will be required).

Vehicle purchased under Amanah Finance will also require to be mortgaged to HSBC MEFCO. (Copy of vehicle registration in confirmation of this will be required).

HSBC MEFCO only pays by cross-cheque as such seller needs to have an account within any of the Banks in UAE. If the seller has an account in HSBC Bank, the funds can be directly transferred to sellers HSBC Bank account.

In the event where the sellers vehicle is mortgaged to another bank ,the vehicle needs to be settled before HSBC MEFCO accepts the proposal for finance. However prior to settling of existing liability request for in-principal approval can be submitted.

Vehicles mortgaged to HSBC MEFCO will have to be within geographical area of UAE.

Applicants age at the time of application has to be greater than 21years and at the time of loan maturity should not exceed 60 years for Expatriates & 65 years for UAE Nationals.

Age of vehicle should not exceed 8 years at loan maturity for Cars & 5 years for Motor Bikes.

Drawdowns will be in favour of the seller & not the customer.

Additional documents may be required as per the case.