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HSBC Car Loan

Check eligibility and how to apply for HSBC Car Loans

Benefits

Enjoy rates starting from 2.45% annual percentage rate if you're a Premier customer applying for a new car.¹
0.25% discount on flat interest rates when financing full electric vehicles and special flat annual percentage rate of 1.84% for TESLA
Balloon repayment option with reduced monthly payments if you like to change your car every 2-3 years

No mandatory salary transfer to HSBC is required
No account opening required
Apply for a car loan online and get a call back from our dedicated sales specialists²

HSBC Car Loan puts you in the driving seat.

How it works

apply for a Car Loan online and get a call back from a dedicated sales specialist
borrow up to AED 600,000 depending on your eligibility
available for all types of saloon, four-wheel drive vehicles and motorcycles

HSBC Car Loan puts you in the driving seat.

How it works

apply for a Car Loan online and get a call back from a dedicated sales specialist
borrow up to AED 600,000 depending on your eligibility
available for all types of saloon, four-wheel drive vehicles and motorcycles

Whether you're purchasing your first car or are a seasoned driver, buying a pre-owned car comes with several advantages. From lower downpayments to paying a reasonably lower monthly instalment, a pre-owned car can be a sensible choice for many. And now, that choice can be an easier one with an HSBC Car Loan.

Concierge Service available on HSBC Car Loans. From inside-out inspection of the car by experts to registration with RTA, Concierge Service ensures you can buy a pre-owned car from another person with confidence and without any hassles.

Concierge Service includes³:

240-point detailed electrical and mechanical inspection of the vehicle
checking the accident history, service history and warranty validity
vehicle testing and registration

Green Car Loans for electric or hybrid cars

Need a new car but concerned about climate change? Don't worry. As part of our sustainability initiative and the UAE Government's 2021 vision, we at HSBC are proud to offer Green Car Loans.

A Green Car Loan will not only suit your needs and budget but also contribute towards clean energy and a green future.

With Green Car Loans from HSBC, you may enjoy:

TESLA – Special flat rate of 1.74% with 50% arrangement fee discount for financing of all new TESLA models.
Full Electric Vehicles (EVs) other than TESLA: 0.25% rate discount on applicable interest rate⁴ along with 50% arrangement fee discount
Hybrid Vehicles: 0.15% discount on applicable interest rate⁴

What is an electric vehicle?

An electric vehicle can be powered, partially or fully by a battery that can be plugged into a power source. Electric vehicles are considered zero emission vehicles because their motors do not produce any exhaust or emissions.

What is a hybrid vehicle?

A hybrid vehicle is one that is propelled by more than one power source brought together to work in conjunction.

What are the benefits of driving an electric or a hybrid vehicle?

reduced fuel consumption and emissions
cleaner electric energy
optimized fuel efficiency and performance
recovered energy from regenerative braking

Eligibility

You can apply for a car loan if:

you're a UAE national or expatriate resident aged between 21 and 65 years
you earn a minimum monthly salary of AED 10,000 per month

Adminstration fee charges
Description	Fee
Application fee 1% (1.05% inclusive of VAT) of loan amount	Min AED 500 (AED 525 inclusive of VAT)
	Max AED 2,500 (AED 2,625 inclusive of VAT)
Early settlement of 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

Adminstration fee charges
Description	Application fee 1% (1.05% inclusive of VAT) of loan amount
Fee	Min AED 500 (AED 525 inclusive of VAT)

Description	Max AED 2,500 (AED 2,625 inclusive of VAT)
Fee

Description	Early settlement of car loan
Fee	1% (1.05% inclusive of VAT) of remaining balance

Description	Advance payment of instalment
Fee	1% (1.05% inclusive of VAT) of the advanced payment

Employed individuals buying new/used cars from authorised dealers:

valid Emirates ID
valid passport copy (valid UAE visa for expatriates)
valid UAE driving licence copy
copy of the last 3 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 a 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 6 months' personal and business bank statements
audited financials for the last 2 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

Things you should know

You may have to pay penalties if you pay off a loan/financing early.

If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future.

Refinancing your loans/financing may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit.

Apply by phone

Our representative will call you back:

Contact me to receive a call back about a car loan This link will open in a new window

Alternatively, you can call us at your convenience: 04 294 8000 (within UAE) or +971 4 294 8000 (outside UAE).

Notes

Offer and product terms and conditions apply. Schedule of services and tariffs apply.

¹Annual Percentage Rate (APR) quoted above is based on a flat rate per annum basis which is fixed throughout the loan tenor, and is inclusive of 1% processing fee assuming a maximum loan tenor of 60 months. Equivalent reducing rate is 4.47% per annum.

²Our Vehicle Loan team is available from Monday to Friday, 9:00 to 16:30. If your form is submitted outside of these times, we will aim to Call you back on the next working day.

³The Concierge Service is an optional service provided by Dubizzle Motors L.L.C. and applicable for valuation of used cars purchased from individuals. HSBC Bank Middle East Limited in the UAE is only a distributor of the service and is not responsible for the services carried out by Dubizzle Motors L.L.C. Terms and Conditions apply.

⁴This discount will be applied on the "flat interest rate".

Car Loan

HSBC Car Loan

Benefits

How it works

Green Car Loans for electric or hybrid cars

What is an electric vehicle?

What is a hybrid vehicle?

What are the benefits of driving an electric or a hybrid vehicle?

New Car

Used Car

Green Car Loans

Eligibility

Loan fees

Documents required

Things you should know

Apply by phone

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Overdraft

Notes

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