Discover the prerequisites and application process for Al Baraka vehicle financing.

To be eligible for Al Baraka vehicle financing, you must meet the following criteria:

• Be of legal age
• Hold citizenship in South Africa
• Provide evidence of lawful income

Additionally, you’ll need to submit the following documentation:

• Recent proof of address, not exceeding 3 months, to verify your residential details
• Valid identification document with barcode or Smart ID
• Confirmation of salary for the past 3 months (for employed individuals)
• Latest Annual Financial Statements or Income Tax Return (for self-employed individuals)
• Bank statements from the preceding 3 months
• Signed declaration of personal income and expenses
• Signed declaration of personal assets and liabilities (jointly if married in community property)

Financing applications undergo thorough review, which may result in a longer approval process compared to consumer loans. Additional documentation might be requested during the assessment.

Where can you apply for Al Baraka vehicle financing?

You can initiate the application process either online or at a physical branch, where a consultant will be assigned to guide you through the financing journey until completion. This ensures that the most suitable terms are offered based on your profile.

How can you make installment payments for Al Baraka vehicle financing?

Installments can be settled through various channels. You can opt for direct deduction from your monthly salary with your employer, set up automatic debit from your personal bank account, or make payments via a bank transfer at any financial institution.

Ready to pursue your new car? Apply for Al Baraka vehicle financing today!