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Car Loan

Hit the road with freedom! Credit Libanais Car Loan lets you purchase a new or used car, or even a commercial vehicle, without the pressure of huge expenses:

  • Flexible, manageable and convenient, our Car Loan is up to USD $100,000 for used cars and USD $125,000 for new cars.
  • To make things even easier for you, the repayment period is between 12 and 60 months at competitive interest rates.
  • Speed away with quick Car Loan approvals, just 24 hours after you apply.

Credit Libanais Car Loan tailored to meet your needs, allows you to finance the purchase of new or used cars. The loan is granted in USD to individuals or institutions.

 

New Cars

Used Cars

 

Loan amount

 

 

Up to USD 150,000

 

Up to USD 100,000

 

Loan Period*

 

 

Up to 60months

•Car model ≤ 5 years: Up to 60 months

•Car model between 6 and 10 years: Up to 48 months

 

 

Flat Interest Rate*

 

 

4.50%

• Car model ≤ 7 years: 6.50%

• Car model between 8 and 10 years: 7%

 

 

Down Payment

 

 

Starting 25%

 

 

Starting 25%

 

 

Car Insurance Policy

 

All risk Insurance

 

• Car model ≤ 8 years: All risk Insurance

• Car model between 8 and 10 years: Total Loss Insurance

* Conditions may vary 

 

  • Loan repaid in equal monthly installments
  • File fees of USD 100
  • Free Life insurance for the borrower during the whole loan period
  • First Legal Mortgage on the Vehicle financed
  • Fiscal stamps fees
  • Loan can be granted with special conditions to finance the purchase of new or used pickup trucks and minibuses

 

Example of Credit Libanais Car Loan for new car 

 Car Value

 Down Payment

 Loan Period

Flat Interest Rate1

Annual Percentage Rate2 (APR)

 Monthly Loan Instalment (including Car insurance fees)

$45,000

$13,000

5 years

4.50%

 9.39%

$780

 The APR includes interest, file fees, car insurance, fiscal stamps fees and mortgage fees.

 

Example of Credit Libanais Car Loan for used car (Car year 2014)

 Car Value

 Down Payment

Loan Period

Flat Interest Rate1

Annual Percentage Rate2 (APR)

 Monthly Loan Instalment (including Car insurance fees)

$20,000

$6,000

5 years

6.50%

13.30%

$390

The APR includes interest, file fees, car insurance, fiscal stamps fees and mortgage fees. 

  • Applicant should be a Lebanese resident.
  • Aged between 21 and 64 by the end of the loan period.
  • For employees:

- Applicant should have completed the probationary period with the employer.
- Minimum 2 years of employment, of which one year with the same employer.

  • For self-employed:

- Applicant should have been in the same business for minimum 2 years.
- Guarantee(s) may be required.

  • Monthly installments must not exceed one third of the applicant’s or the family's income.
 
Documents required:
  1. Copy of ID
  2. Residence certificate
  3. Proof of income:

-   For employees: Authenticated salary certificate.
-   For company or establishment owners: Trade circular, commercial register and financial statements and banks statement of account for the last 2 years.
-   For self-employed: declaration of income, syndicate card (Doctor, engineer, etc.), financial statements and banks statement of account for the last 2 years.



  • Car dealer showroom
  • Credit Libanais branches

1 The interest is fixed, flat, and calculated based on the amount of money borrowed at the beginning of the loan.
2 The Annual Percentage Rate, known as APR, represents the actual yearly cost over the term of a loan.


Conditions apply as at 01/03/2018 and are subject to variation.
The final conditions will be included in the loan agreement where applicable.
Approval of loans is subject to Credit Libanais Bank conditions.
The Bank reserves the right, at its sole discretion, to amend the above Terms and Conditions at any time, without prior notice.


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