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HSBC Car Loans

Enjoy flexible payment plans with our Balloon Payment option

Apply now

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A balloon payment is a lump sum amount owed to the bank at the end of a loan term after all regular monthly repayments have been made. The primary benefit of making a balloon payment through HSBC is reduced size of regular monthly repayments throughout the term of your car loan. Making a balloon payment is based on the vehicle price and finance term. We offer a balloon payment option only on new cars.

Term (months)

12

24

36

48

Balloon Payment % for Personal Banking Non Salary Transfer customers

 

70%

55%

 

 

45%

 

30%

Balloon Payment % for all other customers

65%


Advantage of making a balloon payment include:

  • Lower monthly instalment vs. standard loan
  • Increased affordability
  • Cash flow management

Benefits of an HSBC Car Loan include:

  • Interest rates starting from 2.49% p.a.1
  • Apply for a Car Loan online and get a call back from our Dedicated Sales Specialists2
  • No mandatory salary transfer to HSBC is required
  • Loan amounts up to AED 918,000 depending on your eligibility
  • No account opening required

Payment plan

Flexibility of paying 50% of the car value

Interest rate

From 2.49% p.a.1

Repayment period

From 24 to 48 months

Down payment

20%

Car Loan Calculator

The HSBC Car Loan calculator is the easiest way to check your eligibility and monthly instalments. In just a few simple steps and based on the information provided, you can arrive at an approximate loan amount with options on monthly instalments for various repayment periods

Find out how much you are eligible for


Calculate now

Fees & Charges 

DESCRIPTION FEE
Application fee 1% (1.05% inclusive of VAT) of loan amount Minimum AED 500 (AED 525 inclusive of VAT)
Maximum AED 2500 (AED 2,625 inclusive of VAT)
Early settlement for car loan 1% (1.05% inclusive of VAT) of remaining balance
Advance payment of instalment 1% (1.05% inclusive of VAT) of the advanced payment

Documents 

Employed individuals buying new/used vehicles from authorised dealers:

  • Valid Emirates ID
  • Valid passport copy (valid UAE visa for expatriates)
  • Valid UAE driving licence copy
  • Copy of the last three months' salary or income transfer bank statements (a longer period may be required if cheque returns are identified)
  • Proof of income – salary certificate/salary transfer letter if salary is not assigned to HSBC Bank or other banks under narration salary
  • Repayment mechanism – standing instruction plus an undated security cheque from salary-assigned account
  • HSBC Bank Middle East Limited application form and agreement fully completed in block letters and signed in the presence of a Sales Specialist

Self-employed individuals buying new/used vehicles from authorised dealers:

  • Valid Emirates ID
  • Valid passport copy (valid UAE visa for expatriates)
  • Valid UAE driving licence copy
  • Copy of the last six months' personal and business bank statements
  • Audited financials for the last two years
  • Repayment mechanism – standing instruction plus an undated security cheque from main operating account
  • HSBC Bank Middle East Limited application form and agreement fully completed in block letters and signed in the presence of a Sales Specialist
  • Valid documents in support of business/partnership, ie trade licence copy, memorandum/articles of association, passport copies of owners/partners and additional documents can be requested based on individual requirements.

Eligibility

You can apply if:

  • You are a UAE national or expatriate resident aged between 21 and 65 years
  • You earn a minimum monthly salary of AED 7,500 per month



HSBC Bank Middle East Limited Terms and Conditions apply.


Auto Loan Terms and Conditions and fees and charges apply.



1Flat rate which is equivalent to the reducing balance rate of 4.60% p.a.

2Our Vehicle Loan team is available from Sunday to Thursday, 9:00am to 4:30pm. If your form is submitted outside of these times, we will aim to call you back on next working day

If your form is submitted outside of these times, we will aim to call you back on next working day.

Ready to apply?

  • Our representative will call you back2

Apply now

Call us at your convenience:


04 294 8000 within UAE
+971 4 294 8000 outside UAE


Lines open from Saturday to Thursday 9:00am – 4:30pm



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This link may allow you to access a non - HSBC website. HSBC Bank Middle East Limited has no control over the linked website and is not liable for your use of it.

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This link may allow you to access a non - HSBC website. HSBC Bank Middle East Limited has no control over the linked website and is not liable for your use of it.

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This link may allow you to access another HSBC Group website. Please read the terms and conditions of the linked website, which may differ from the terms and conditions of HSBC Bank Middle East Limited website.