Car finance Companies in Muscat

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Which are the car finance companies in Muscat?

Car finance companies are banks, car dealers, insurance companies and other companies that offer loans to individuals who wish to buy cars. There are over 20 companies in Muscat, Oman that offer auto loans. The companies are as listed below.

  1. Meethaq

Meethaq is one of the best companies in Muscat to seek car financing .The company finances aspiring car owners up to 80 % of the cost of the car.

Shari’a Basis

Meethaq Car Finance is based on the concept of Murabaha. Murabaha is kind of sale, where the seller discloses the cost of the asset along with the profit. Meethaq, instead of giving a loan to the customers, purchases the car as per customers’ request and sells it at a cost plus agreed profit to the customer.

An Omani national or a resident expatriate with a minimum* monthly salary of Omani Riyals 250 and 300 respectively can avail our Car Finance solution.

How to Apply

Apply for Meethaq Car Finance by filling up the application form and attach the relevant documents and submit at the nearest Meethaq branch or the auto dealer.

Documents Required

  • Copy of national identity card (NID) card for Omanis and resident card & passport with visa page for resident expatriates.
  • Valid Omani Driving License
  • Two photographs of the applicant.
  • Salary transfer letter from your employer.
  • Declaration of other liability (if any).
  • Address proof (water bill, electricity bill or Mulkiya copy).
  • Quotation of the car, in joint name of Meethaq and the customer.
  1. Sayyarati Car Loans

Sayyarati Car Loans

It’s now quicker, easier and more affordable than ever before to own your dream car. Sayyarati Car Loans offer up to 80 % car financing where a customer is able to buy a car of their choice.

Advantages of taking a loan from Sayyarati are:

  • Simple documentation
  • Fast processing
  • No Post Dated Cheques
  • Low monthly installments
  • Insurance funding scheme

Simple documentation:

The documentation of the car loans is simple with only few signatures and details.

Insurance funding scheme:

The customer has an option to avail car insurance through the Bancassurance channel of Bank Muscat at low premiums. If he avails this facility he has the option to add the insurance premium amount to the loan amount and pay in installments.

No postdated cheques:

The applicant is not required to give any cheques. The monthly installments are automatically debited from his account on a monthly basis.

Low monthly installments:

The interest rate charged is on a reducing balance.

Loan for purchase of new car

You can visit any dealership or the bank branches to avail this facility. This facility is offered to nationals and also expatriates.

  1. Taageer Financing

Taageer Financing is another institution that offers car financing.The financial institution has quick and customized loans for Muscat residents who wish to import or buy cars.

Taageer provides big ticket leasing facility to Small, Medium and large companies for acquisition of capital as well as income generating assets viz. Trucks, Tippers, Excavators, Bull Dozers, Cranes, Graders etc and all kinds of equipments by way of easy installment schemes.

The repayments structures are tailor made to suit the clients’ requirement and are available based on the cash flow of the customer in a fixed or in a structured manner.

Lease facility is available for new asset purchase as well as for used equipments.
Taageer also provides financial support for factory or warehouse construction as well as for purchase of Plants & Machinery.

  1. AL OMANIYA

Al Omaniya offers lifeline loans, which include car loans.

Life Line by Al Omaniya Financial Services SAOG is an Auto finance product offered in the retail segment whereAOFS is a leading market player.

Life Line is designed for financing Saloon Cars and Commercial vehicles facilitating hire-purchase and leasing options for:

  • New vehicles
    • Used vehicles
    • Refinance Own vehicles

It is offered to:

Salaried Individuals
Self employed Businessman
Transport Operators
Small / Medium / Large business houses

Whether you are buying from any Auto Dealer outlets or directly approaching AOFS, the process is quick and simple. AOFS also caters to Refinancing your cars to solve your pressing cash needs.

Convenience Redefined

• Quick Approvals
• Simple Documentation
• Low Interest rates
• Flexible repayment options
• Payment in easy installments up to 72 months
• No hidden charges
• Excellent customer service
• No salary Assignment

  1. Oman ORIX Leasing Company SAOG.

Auto Lease

Oman ORIX Leasing Company offers auto lease facilities to Nationals and Expatriates working in the Sultanate of Oman. We offer quick and efficient lease facilities for our customers at our Head Office in Muscat and in our branches at Sohar and Salalah.
 
The main features of our auto leases are given below:
1. Competitive interest rate with flexible down payment.
2. Prompt processing service, ensuring quicker delivery of your car.

 

3. Financing for new and used saloon and commercial vehicles.

 

4. Lease terms of 1-5 years.

 

We have tie-ups with all leading auto dealers in the country. Ask your dealer for Oman ORIX terms and conditions and ensure a competitive rate and quick service.
 
The following documents are required to enable us to process your lease request:
 
1. Salary certificate
2. Copy of National ID / Labour Card
3. Copy of Passport (Expatriates)
4. Copy of Omani driving license
5. Bank statements for past three months

 

These are top companies in Muscat that offer car financing services.

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