Tickets that were originally priced at Rs 2,500 are being resold for as much as Rs 300,000
Since the economic slowdown, that hit the region in quarter four of 2008 and the consequent lack of liquidity, potential new car buyers have had to meet ever more stringent loan criteria to secure a new car financing.
“The lack of liquidity in the market has made it extremely challenging for banks to provide competitive financing packages. However, Al Hilal Bank has agreed to help us deliver these new deals to our customers,” Michel Ayat, CEO of Arabian Automobiles, said in a statement.
From now onwards, customers of Arabian Automobiles can opt for two new financing deals offerd by Al Hilal Bank. A customer with a minimum salary of Dh6000 per month and above can opt for a zero per cent down payment option and additionally get a 4.5 per cent interest rate over a four-year period. For a period of over four years, the profit rate rises slightly to 4.75 per cent.
Tickets that were originally priced at Rs 2,500 are being resold for as much as Rs 300,000
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