New Car Loan
Finance up to 90% of a brand-new car from approved dealers.
Loans and finance
Your first car, without the new-car price.
Finance up to 80% of a pre-owned car up to 7 years old, from a dealer or a private seller, from 5.25% p.a. flat.
Applications are not possible: this is a fictional test website.
Key benefits
Buy from a private seller
Found the right car online or through a friend? We can finance it after an inspection.
Up to 80% financing
Based on our independent valuation of the car.
Instalments from around JOD 120
For example JOD 6,000 over 5 years at 5.25% p.a. flat.
Inspection partners
A certified inspection at a partner garage checks the car before you commit.
Who it's for
For drivers who want reliable wheels on a realistic budget.
- New graduates starting their first job
- Young employees tired of taxis and long commutes
- Families adding an affordable second car
- Buyers who prefer a private sale to a showroom
Features
- Dealer or private purchase
- Up to 80% of valuation
- Tenor up to 5 years
- Fixed monthly instalment
- Bank arranges transfer of ownership with the seller
- Comprehensive insurance can be added to the instalment
Rates and figures
| Car age at application | Flat rate | APR | Maximum tenor |
|---|---|---|---|
| Up to 3 years | 5.25% p.a. | 9.60% | 5 years |
| 4 to 5 years | 5.75% p.a. | 10.50% | 5 years |
| 6 to 7 years | 6.25% p.a. | 11.40% | 3 years |
Flat rate on the original amount; APR shows the true yearly cost. Fictional figures.
Fees and charges
| Administration fee | JOD 150 |
|---|---|
| Car inspection at partner garage | JOD 25 |
| Early settlement | 1% of the outstanding balance |
| Late payment | JOD 10 per missed instalment |
Eligibility
- Aged 21 to 65 at the end of the loan
- Minimum monthly salary JOD 350
- Car no more than 7 years old at application and 10 years at loan end
- Car passes a certified inspection
Documents you need
- National ID or passport with residence permit
- Valid driving licence
- Salary certificate
- Car registration copy and seller ID
- Inspection report
How to apply
- Find the car and agree a price with the seller
- Book an inspection at a partner garage
- Apply in the app with the inspection report
- We pay the seller and the car is registered in your name
Frequently asked questions
How old can the car be?
Up to 7 years old when you apply, and no more than 10 years old when the loan ends.
Can I buy from a friend or a private seller?
Yes. The car must pass a certified inspection and the seller must provide valid ownership documents.
Why is the rate higher than for a new car?
Used cars carry more risk of repairs and lose value differently, so the flat rate starts at 5.25% instead of 4.49%.
What if the car fails the inspection?
We cannot finance it, but you can apply again for a different car at no extra admin fee.
Related products
Personal Loan
Cash for weddings, renovations or life's big moments, repaid monthly.
Loan calculator
Estimate your monthly instalment (needs JavaScript).
You may also like
Insurance and bancassurance
Simple life, home, travel and credit protection cover arranged through the bank.
Lanternvale Bank is fictional. Figures are examples for software testing only. Finance is subject to credit approval and, if it were real, to local banking regulation.