I wonder if you want to buy a new car and you do not have full financing for it or enough money, what do you do, and are there specific banks that offer you loans to buy cars in 2025, and what are their details, conditions, and most important facilities.. We will tell you all the details in this report, so follow us until the end.
Now, the Egyptian government, through its various governmental institutions and ministries, provides support to citizens through banking services, including a loan to purchase a new car with many facilities.
Among the banks that offer car loans is Nasser Bank, which offers loans and repayments over 90 months for private cars.
The minimum repayment of the installment will be two years and the maximum is 7 and a half years, and the return rate in the case of a government guarantor is 11%. However, in the absence of a government guarantor, the return will be 11.7% and the minimum Arabic down payment will be 25%, but there are some administrative expenses of 1%. It is paid in cash.
As for the conditions for obtaining an Arabic loan, 25% of the price offer must be paid as a down payment, and you must also provide the insurance number of the loan applicant, especially for new customers, to open the account, and a copy of the national ID card, which must be valid.
Also required is a recent accompanying receipt or a letter from the employer stating the current address of the loan applicant based on the service file, in addition to a statement of details for the person who will take the loan, whether salary or pension. .
There must be a price quote for the car from all producing companies, agents and distributors, and the Arabic quote for a model must be two years before the time of applying for the loan, other than the year of manufacture. It must also have a previous license for the Arabic, and the year of manufacture must not be restricted for people with special needs.
We can say that the financing period reaches 90 months for private cars, and 60 months for cars with special needs.
As for the rest of the procedures for obtaining a car loan, for pensioners, the salary or the value of the installment is transferred to the financing applicant, and the life of the loan applicant is insured for the benefit of the bank for the full period and indebtedness, and this is through insurance companies contracting with the bank, in addition to the ban on the car, and also one of the guarantees, Such as providing a guarantor upon request from government or public business sector employees, provided that the salary covers the value of the monthly installment.
As for pensioners, the pension or the value of the installment is transferred to the loan applicant, in addition to life insurance for the financing applicant in favor of the bank for the full period and debt, and this is through insurance companies contracting with the bank in addition to the ban on Arabic.
Regarding workers in the private sector or self-employed professions, the life of the loan applicant is insured for the benefit of the bank for the entire period, and this is through insurance companies contracting with the bank.
In the event that the loan applicant pays 25% of the value of the price offer to Arabic, or the amount paid in cash, a pledge will be submitted to transfer the salary of 2 guarantors on call, whether the loan applicant or a guarantor from government or public business sector workers, on the condition that their salary covers the monthly installment. .
If the financing applicant pays 50% of the value of the Arabic price offer, a salary transfer pledge will be submitted by the loan applicant or a guarantor from government or public business sector employees, under the same condition that it covers the value of the monthly installment.
If you are in need of a car loan from Nasser Bank, collect your papers and go to the nearest branch near your home.
