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Are down payments mandatory when buying a new car in the UAE?
yeah down payment is pretty much non-negotiable here unless you're paying cash in full. one thing people don't mention is that if you're buying from a dealer like al futtaim or al tayer, they sometimes bundle insurance and registration into the loan so you need less cash upfront but the monthly goes up. i'd rather just pay the 20% and keep payments lower tbh.
also check if the bank considers your housing allowance as part of your salary, some do and some don't, and that can change the down payment percentage they offer. enbd and adcb have been decent for car loans in my experience
Yes, you'll need a down payment for a new car. Most banks and dealers here ask for 20% of the car's value if you're a salaried employee with a clean credit history. I've seen some dealers offer 15% during Ramadan or end-of-year sales, but that's usually tied to specific models they're trying to move.
If you're self-employed or have a shorter visa, expect the down payment to jump to 30-40%. Also, don't forget the 5% VAT is added on top, so factor that into your cash upfront. I'd recommend checking with a couple of banks directly before going to the showroom, as the dealer's in-house financing often has higher rates.
I've noticed that some car manufacturers in the UAE offer special financing options for certain nationalities or professions, so it's worth checking with the dealership to see if you qualify for any of these programs, for example Emirates NBD has a special arrangement with some car brands for UAE nationals and that can bring the down payment percentage down to 10%.
Dubai/Sharjah Road Scam?
damn u basically did a free taxi run to rak. thing is they usually target cars with a single guy driving & look for dubai plates so u look like u got somewhere to be. best move is roll ur window down like two inches, say u already called the cops for them & keep moving, dont even unlock the door
yeah that's a known one on e311 & the sharjah ring road, usually they wave you down near the adnoc or before the rta cameras claiming wallet got lifted. classic play is they ask for a lift to the next emirate then bail once you slow down, sometimes a second guy on a bike is tracking you. next time just call 999 or drop them at the nearest police point, don't let anyone in your car off the highway ngl
The RAK route is the tell. No one genuinely stranded on the ring road needs to get all the way to Ras Al Khaimah, that's a 90 minute drive. These guys work in pairs and the second car picks them up after they hop out, usually somewhere past the Al Sajaa junction or near the ADNOC on E311. If it happens again, tell them you'll drive them to the nearest police station and watch how fast the story changes.