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Being a proud owner of your dream vehicle and selecting the right auto finance provider could be a stressful experience. To avoid this hassle all you need to do is that you select the right Bank to finance your dream car. Choosing the right Bank sounds a lot easier than it is, you still have to keep a lot of things in mind. Here’s a quick checklist that you can refer to: Choose the right Bank Try choosing a Bank that is recommended by your family or friends. If you are happy with your Bank’s current services and options, then this Bank could be much easier to deal with. Terms & Conditions Read the terms and conditions carefully before selecting an auto finance. It is good to review all the details and facts in advance in order to avert any future difficulties. Repayment Period Make sure the Bank offers you a flexible repayment option. Although this option is not offered by all companies, some banks like RAKBANK offer a flexible repayment period of up to 60 months. Explore your Options Take your time while making a decision by comparing the available options. Your personal familiarity with a particular Bank does not guarantee the best interest rates for auto finance, so ensure that you explore all the available options. Check the various auto finance promotions from various Banks in the UAE and compare the offers. Look for a hassle free banking experience Many automobile dealers have tie-ups with Banks and their representatives are always available in their showrooms; they can also assist you in completing the tedious paperwork. You can also benefit from Auto Finance Centres like the RAKBANK Amal Islamic Auto Finance Centre in Al Barsha, Dubai that provides you with auto finance approvals in just 60 minutes (provided all your documents are in order)! Down Payment Ask how much down payment is needed to obtain the auto finance approval. Banks in the UAE like RAKBANK offer a ‘zero’ down payment option to companies and self-employed customers. Buying a car is a big decision and goes hand-in-hand with choosing the right loan provider. Following the above few steps can really simplify the process and help you find a Bank that offers you a genuinely good deal.
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