So you have decided to buy a car. If you are looking to buy a new or used car but feel tight on budget, BBAC can help.
With the Car Loan from BBAC, drive away in the car you desire in no time, and benefit from convenient repayment terms, easy application process and preferential interest rates.
- Are you eligible for the Car Loan?
- You must be a Lebanese citizen residing in Lebanon
- You must be between 21 and 68 years old at loan maturity
- You must have a minimum monthly income of USD 800
- What do you need to know about the Loan?
- Currency: US Dollars
- Down Payment: minimum 25% of car price and insurance
- Loan Amount: USD 250,000 or equivalent (Loans above USD 250,000 will be studied on a case by case basis)
- Repayment Period: up to 5 years for new cars and up to 4 years for used cars
- Interest Rate: starting from 3.5%- to 4.25% for new cars and 4.5% to 6.5% for used cars
- File Fees: Ranges between USD 100 - USD 200
- What are the guarantees and conditions required for the Loan?
- The monthly repayment should not exceed 35% of the monthly salary if employed
- All-risk insurance policy on the car from an insurance company acceptable to BBAC.
- Life insurance policy covering death and permanent total disability from an insurance company acceptable to BBAC.
- 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.