Mazroukeh? Is the car you are currently driving too cramped for comfort? Are you looking to buy a brand new or used car but feel tight on budget?
With the Car Loan from BBAC, you can drive away in the car you desire in no time.
The Car Loan puts you in the driver's seat of your new car with convenient repayment terms, easy application process and a grace period of 3 months.
- Am I eligible for the Car Loan?
- You must be a Lebanese citizen residing in Lebanon
- You must be between 18 or 64 years old
- You must have a minimum monthly income of 500 USD or its equivalent in LBP
- What do I need to know about the Loan?
- Currency: Lebanese Pounds, US Dollars and Euro
- Loan Amount: unlimited
- Down payment: between 0% and 25% of car price
- Repayment Period: up to 5 years
- Interest Rate: 3.25% for new cars and 5.90% for used cars
- A grace period of 3 months
- Exemption from files fees
- What are the guarantees and conditions required for the Loan?
- The monthly repayment should not exceed one third of the monthly salary if employed or one fourth of the monthly income if self-employed
- First degree mortgage on the car in favor of BBAC
- An all-risk insurance policy on the car
- A life insurance policy covering the loan amount with The Capital Insurance and Reinsurance Co.
- What is the next step?
You can apply for the Car Loan by visiting any of the BBAC branches, where the customer service representatives are ready to provide assistance, or online.