Auto leasing for new cars
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Auto-Leasing for New Cars
Shariah-compliant financing, simple terms, and instant approval. Your new car is closer than you think.
overview
Overview
Riyad Bank Auto Leasing program gives you the opportunity to own your car with repayment periods up to 60 months and the option to transfer ownership during the leasing period through early settlement.
- Exclusive offers for Riyad Bank customers
- Possibility of transferring the lease to another customer (Ihlal)
- Possibility of adding a second driver (first degree relative)
For Auto Leasing APR disclosure, click here
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Types
50/50 Program
50/50 Program is designed for customers who wants to obtain a vehicle by paying the vehicle half amount, the finance profit, the insurance as a down payment, and the second half after two years as a final payment.
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Condition
Auto Leasing for Saudis of Approved Companies:
For salary transferred customers:
- Should be 18 years old and above
- Minimum net salary S..R 4000
- A one month period of service required
- A letter from employer confirming the salary assignment to Riyad Bank
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For non-salary transferred customers:
- Should be 18 years old and above
- Minimum net salary S..R 5000 for employee at governmental sector
- Minimum net salary S..R 5500 for employee at private sector
- Minimum period of service 3 months
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Auto Leasing for Non-Saudis of Approved Companies:
For salary transferred customers:
- The customer must be employee at governmental or private sector
- Should be 18 years old and above
- Minimum net salary S..R 6000
- Minimum period of service 3 months
- A letter from employer confirming the salary assignment to Riyad Bank
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For non-salary transferred customers:
- The customer must be employee at governmental or private sector
- Should be 18 years old and above
- Minimum net salary S..R 7000
- Minimum period of service 3 months
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Auto Leasing of Non-Approved Companies:
For salary transferred customers:
- Should be 18 years old and above
- Minimum net salary S..R 6000
- For Saudi and non-Saudi customers
- Minimum period of service 6 months
- A letter from employer confirming the salary assignment to Riyad Bank
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For non-salary transferred customers:
- Should be 18 years old and above
- Minimum net salary S..R 8000 For Saudi customers
- Minimum net salary S..R 10000 For non-Saudi customers
- Minimum period of service 6 months for Saudi
- Minimum period of service 6 months for non- Saudi
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How to apply
How to apply
For an initial approval, you can either visit a dealership sales consultant, visit the nearest Riyad Bank branch, or call us on 800-124-2020.
Once you have the initial approval, you can provide the rest of the following documents:
- Salary certificate (less than two months old)
- A valid Saudi national ID / Iqama
- A completed lease application form
- A valid driving license
- 3-month bank statement for your salary account (required if your salary will not be transferred to Riyad Bank)
- Salary transfer letter (in case of financing with salary transfer to Riyad Bank)
- Vehicle quotation (from a dealer approved by Riyad Bank)
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Fees
Fees
List of Auto leasing program fees:
Description
Fees
Administrative fee
1% of the financing value or S..R 5,000 (whichever is lower)
Internal authorization for adding driver / period 12 months
S..R 24.50
International authorization for GCC / period 6 months
S..R 69
International authorization for Jordan /period 3 months
S..R 69
Transfer ownership through Bank
S..R 402.50
Renewal Vehicle License
S..R 40.25
Change plate number through customer
S..R 35
Change plate shape ( short to long )
S..R 247.25
Replacement for lost plate
S..R 247.25
Replacement for damaged plate
S..R 247.25
Adding Logo
S..R 247.25
Transfer ownership through customer
The customer is responsible for all fees and any third-party charges.
Your Answers
Frequently Asked Questions
1
Are there any conditions for auto leasing?
2
Can I delegate another driver?
3
Is the customer who is not holding a driver license allowed to obtain a vehicle through Auto Leasing Program?
4
Can I travel outside the Kingdom?
5
Is there insurance on the vehicle?
6
Where can I find the sales consultants?
Apply Online - Auto Leasing for New Car
Riyad Bank Auto Leasing allows you to lease the car of your choice though Shariah-compliant programs with easy and flexible installment plans.
Please complete the form below
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Riyad Line:
800 124 2225
