Without a job and without a sponsor, how do you buy a car in installments in Saudi Arabia?

2023-11-03 02:15:00

Without a job and without a guarantor, how to buy a car in installments in Saudi Arabia is one of the most important things that many citizens in Saudi Arabia search for with the aim of working with this car, earning a living, and improving living conditions, as the matter can be done through some banks in the Kingdom, and we will present the conditions. The steps are as follows.

Without a job and without a sponsor, how do you buy a car in installments in Saudi Arabia?

Many individuals in the Kingdom of Saudi Arabia are searching for car financing in installments without a guarantor, as the Social Development Bank is one of the banks that provides this financing, and you can apply for it by doing the following:

Read also: We present to you the newest names for boys starting with the letter Alif in Saudi Arabia in 2024. Learn about them now, “because their goal is to destroy the State of Israel”!! A European country declares Hamas and the Samidoun network terrorist organizations. Now.. Zain unlimited data SIM card in Saudi Arabia 1445. Find out its price and where to buy it. Social Security in Saudi Arabia.. conditions for the 1445 restoration loan and how to obtain it. Go to The official website of the Social Development Bank. Then click on car financing. Then click on Go to the service. Log in through the national unified access account. You must enter the data required for registration. Wait until the site verifies the applicant’s eligibility to obtain the loan. A message arrives on the phone stating approval to obtain financing, with a commitment of an amount not exceeding 150,000 Saudi riyals.

Controls and conditions for purchasing a car without a job

There are many controls and standards that must be met when purchasing a car on installments in Saudi Arabia, which are evident in the following:

Availability of a car installment contract that contains the information of the contracting parties, writing a comprehensive description of the car subject to the contract, its price, the amount paid as an advance, details of the remaining amount, the number of installments due, the value of each installment, and the date of the installments. The buyer receives the car subject to the contract, and delivery takes place according to the conditions written in the contract. If no conditions are written, delivery must be in the same condition as the car when contracting. In most cases, delivery includes all of the car’s components and everything necessary for its use. Delivery occurs by enabling the buyer to take possession of the car. Determine the method and place of payment of installments between the customer and the car showroom owner. If there is no specific method, payment will be made through the bank specified by the seller. The buyer may not pay the seller an administrative fee of more than 1% of the price of the car as a whole, and this percentage can be changed by the Minister of Investment. If the buyer refuses to pay the due car installments, the seller has the right to terminate the installment contract and demand the full price of the car, and the buyer has the right to voluntarily waive the installment contract. The seller must inquire about the buyer’s credit record, after the buyer signs his approval of the matter, and that he has the ability to pay. It is possible to go further than that, which is for the seller to oblige the buyer to sign a mortgage contract. Credit data must be updated periodically, and an installment contract may not be approved if the buyer’s credit ability is proven to be weak.

There are many banks that provide car installment service without a guarantor in the Kingdom of Saudi Arabia, where the matter can be done through the Social Development Bank if the imposed conditions are met.

Without a job and without a sponsor, how do you buy a car in installments in Saudi Arabia?