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AL-FUTTAIM FINANCE
About Us
Al Futtaim Finance Co. PvJSC is an integral part of Al-Futtaim Automotive with a proven track record of supporting customers in the region for the past 13 years. Our greatest strength is the ability to provide solutions for our customer’s mobility needs utilizing our extensive network of partnering banks and our own plethora of trusted automotive brands. Al Futtaim Finance Co. PvJSC is licensed and regulated by The Central Bank of United Arab Emirates (CBUAE).
We are able to leverage the strong automotive expertise gathered over the years to become best-in-class financial service partner and the most trusted leasing and finance provider in the UAE. From individuals, to small and medium enterprises (SMEs) and large corporations, we support local and international customers with their automotive requirements to help them compete in the toughest market conditions.
Our Mission is to become the provider of the most reliable and innovative finance and ownership solutions that caters to all mobility requirements for automotive customers across UAE.
Our Vision is to foster a culture of growth mind-set that enables our organization to thrive and adapt to the constant changes of customer and market demands, while operating within the disciplines of a regulated financial entity. To provide attractive choices for customers with diverse financial solutions. To give our customers convenient and flexible access to mobility.
Products & Services
Benefits
Why it is so convenient
- Lower Monthly Instalments
- The Opportunity to Keep Driving a Brand-New Vehicle more frequently
- Guaranteed Future Purchase Value
- Options to Renew, Return, Retain the Vehicle
What does it include
- Insurance & Accessories can be included in Finance
- Buy Back Guarantee
- Option to outright purchase of vehicle
Description
Auto Loans with GFV are a vehicle finance plan but unlike a normal finance plan, you won’t be paying off the full value of the vehicle but only for the term of ownership (2 or 3 years).
Al-Futtaim guarantees to buy back your vehicle at the end of the term at an agreed price (Minimum Guaranteed Future Value – GFV). At the end of term you have three options:
- Renew = Drive a new Vehicle!
Al-Futtaim will pay the agreed price (GFV) and settle your existing loan, allowing the enjoyment of driving your new car and if any money is left, it may be used as a deposit on your new vehicle. - Return = Hand back the vehicle.
If you decide to return the vehicle, make sure to the vehicle is in good condition, maintain regularly and you didn’t exceed the agreed mileage. - Retain = Keep the car.
If you decide to keep the vehicle, you either pay the Final Payment or we arrange refinancing for the Final Payment.
Benefits
- Personal Loans to support down payment
- Repayments upto 4 years
- Repayment through DDA
- Option to early settle
Description
Personal Loans at Al-Futtaim Finance are designed to assist customers in their vehicle purchases by funding up to 20% down payment value towards their vehicle.
Personal loans are approved along with the auto finance the customer availed.
Benefits
- Easy financing method for SME and Large corporates
- In-House Credit evaluation
- Fast Turn Around times
- Repayment through DDA
- Financing option upto 4 years
- Service Contracts, Accessories and Insurance products can be financed
- Professional Finance & Insurance Managers to facilitate your purchase
- One stop solution
- Central Bank Regulated
Description
Al-Futtaim Finance has been helping buyers for over a decade in finding the best financing solution. With an experienced team of professionals, we help our SME and Corporate Buyers in their purchases by having a financing option available to them in-house.
Customer can avail upto 90% financing for upto 4 years.
Benefits
Why it is so convenient
- Drive brand new vehicles more frequently
- Traffic Fine and Road Toll Administration
- No need to worry about vehicle depreciation
- Low upfront payment
What does it include
- Vehicle service and maintenance
- Insurance Including Passenger Accident Cover
- Annual Registration Management
- 24/7 Breakdown Cover & Recovery
- 24/7 Maintenance Call Center
Description
Leasing is a convenient fixed-cost mobility plan and a great option without worrying about the ownership of the vehicle. It is completely hassle-free, with a low initial down payment, and an all-inclusive monthly lease amount.
Leasing makes it easier to get more car for less money because you only pay for the use of the vehicle for one, two or three years, instead of paying for the vehicle itself. This way, you get to keep upgrading to the latest models more often.
Warning:
- You may have to pay penalties if you pay off a loan/financing early.
- If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future.
Schedule of Charges
Effective 1st January 2021
| Sr. No. | Charge Type | Personal Loan Product |
|---|---|---|
| 1 | Interest Rate per Annum (On Reducing Balance Basis) |
From 16% – 21% |
| 2 | Processing Fee | 1% of Loan Amount inclusive of VAT Min – AED 500 and Max – AED 2500 |
| 3 | Pre-Payment Fee | 1% of Outstanding Amount inclusive of VAT Max AED 10,000 |
| 4 | Late Payment Charges | 2% of the delayed amount, Min AED 50 & Max AED 200 |
| Sr. No. | Charge Type | Auto Loan Product (below amounts are exclusive VAT)* |
|---|---|---|
| 1 | Processing fee | 1% of loan amount Minimum of AED 500 Maximum of AED 2,500 |
| 2 | Early settlement fee | 1% of Outstanding (Principal amount plus outstanding Interest) AED 10,000 (Max Cap) |
| 3 | Delayed payment Penal interest | Late Payment Penalty= 2% of delayed amount Min AED 50 and Max AED 500 |
| 4 | Change of due date on standing instruction fee | AED 25 |
| 5 | Advance payment of installment fee | 1% of advance payment |
| 6 | Liability letter issuance fees (to Banks) | AED 60 |
| 7 | Cancellation fees | AED 100 |
| 8 | Loan rescheduling fees | AED 250 |
| 9 | Deferment fee – Skip payment | AED 100 |
| 10 | EMI schedule letter fee | Free |
| 11 | Mortgage release letter fee | Free |
| 12 | No Objection Certificate (NOC) to RTA issuance fees | Free |
| 13 | DDA activation fee | Free |
| 14 | DDA declined / return fee | AED 100 for each DDA declined / returns |
| 15 | Change of DDA | AED 100 |
| 16 | Mortgage upload fee | AED 100 per vehicle |
Note: All Charges are exclusive of VAT. VAT applicable as per UAE VAT Law issued by the Federal Tax Authorities
| Sr. No. | Charge Type | Auto Loan Product (below amounts are exclusive VAT)* |
|---|---|---|
| 1 | Processing fee | 1% of loan amount |
| 2 | Early settlement fee | 1% of Outstanding (Principal amount plus outstanding Interest) |
| 3 | Delayed payment Penal charges | AED 300 |
| 4 | Advance payment of installment fee | 1% of advance payment |
| 5 | Liability letter issuance fees | AED 60 |
| 6 | EMI schedule letter fee | free |
| 7 | Mortgage release letter fee | free |
| 8 | No Objection Certificate (NOC) to RTA issuance fees | free |
| 9 | DDA activation fee | free |
| 10 | DDA declined / return fee | AED 100 for each DDA declined / returns |
| 11 | Change of DDA | AED 100 |
| 12 | Mortgage upload & removal fee | AED 100 per vehicle upload & AED 100 per vehicle removal |
Note: VAT applicable as per UAE VAT Law issued by the Federal Tax Authorities
| Sr. No. | Charge type | Personal lease |
|---|---|---|
| 1 | Maximum Processing fee excluding VAT | AED 200 |
| 2 | Charge for bounced/returned cheque/DDA | AED 100 |
| 3 | Late payment Penalty | 2% per month of the agreed lease rental for the number of months delay (Minimum AED 50) |
| 4 | Fines | At actual value |
| 5 | Fines admin fee | AED 35 |
| 6 | Toll | At actual value |
| 7 | Toll admin fee | 10% |
| 8 | Photo documentation for fines | AED 60 |
| 9 | Insurance excess | AED 1,500 |
| 10 | Excess distance charge | AED 0 to AED 2 per extra driven km |
| 11 | Early termination penalty | 0-6 months lease amount |
| 12 | Late hand back charges | AED 250 per day |
| 13 | Accident damage repairs not covered by insurance | Fully paid by customer |
| 14 | Accident without official police report | All repairs fully paid by customer |
| 15 | Recovery Assistance Due to Battery Discharge for Electric Vehicles | AED 200 to bring the vehicle to nearest charging station |
| 16 | Loss, Theft or Damage to Electric Vehicle Accessories (Chargers, Charge cables etc.) | Full replacement cost paid by customer |
Note: VAT applicable as per UAE VAT Law issued by the Federal Tax Authorities
Annual Financials
Announcements
Coming Soon
Contact Details
General Contact Details:
| Address: | Marsa Plaza, Eyebrow Building, Dubai Festival City P.O. Box 283568, Dubai, U.A.E. |
| Telephone No.: | 800 23562 / +971 4 304 7600 |
| Fax No.: | +971 4 338 7671 |
| Email Address: | AFF.customerservice@alfuttaim.com |
Collections Contact Details:
At Al-Futtaim Finance our success is built on traditions of trust, valued relationships and respect. We encourage our customers who is fronting any financial or non-financial related issues that impacting their monthly payment to contact us immediately and our dedicated collections team will be happy to help resolving any issues. Please feel free to contact us on the following
| Telephone No.: | +971 4 304 7600 |
| Email Address: | AFF.Collections@alfuttaim.com |
Contact Us
General Contact Details:
| Telephone No.: | 800 23562 / +971 4 304 7600 |
| Email Address: | AFF.customerservice@alfuttaim.com |