Many people looking to buy a car in Mecca seek financing options that help them own the right car without having to pay its full value upfront. With the variety of banks and financing companies and the differences in their requirements and profit rates, comparing offers and knowing the monthly installment amount becomes an important step before making a purchase decision.
At Carsvid, we provide you with a digital experience that combines browsing cars eligible for financing with comparing offers from a group of banks and financing companies operating in Saudi Arabia. You can review the details of financing providers, compare monthly installments, minimum salary requirements, and profit rates, as well as use the financing calculator to estimate an installment suitable for your budget.
Calculate your car installment now with Carsvid
Car Financing Options in Mecca
| Financing Provider | Estimated Monthly Installment | Minimum Salary | Profit Rate |
|---|---|---|---|
| Bank Aljazira | SAR 744 | SAR 5,000 | Starting from 3% |
| Saudi National Bank | SAR 787 | SAR 3,500 | Starting from 4% |
| Riyad Bank | SAR 798 | SAR 5,500 | Starting from 4% |
| Bank Albilad | SAR 785 | SAR 3,500 | Starting from 4% |
| Al Rajhi Bank | SAR 825 | SAR 4,000 | Starting from 5% |
| Alinma Bank | SAR 805 | SAR 4,000 | Starting from 4% |
| Arab National Bank | SAR 798 | SAR 4,000 | Starting from 4% |
| Emirates NBD | SAR 788 | SAR 5,000 | Starting from 4% |
| Abdul Latif Jameel | SAR 1,050 | SAR 2,500 | Starting from 10% |
| Aloula Finance | SAR 1,181 | SAR 2,500 | Starting from 10% |
| JeePay | SAR 823 | SAR 4,000 | Starting from 5% |
| Alraya Financing | SAR 941 | SAR 3,500 | Starting from 9% |
Note: The figures are estimates for a car priced at SAR 50,000 and a financing period of up to 60 months. They do not represent a final offer or guarantee of approval. Installments and rates may vary depending on the customer, car, and financing provider.
Car Financing Banks in Mecca Through Carsvid
The financing page on Carsvid includes a group of banks that offer car financing, allowing you to review preliminary profit rates, minimum salary requirements, financing periods, and estimated monthly installments. The following are the main banks available through the platform:
Car Financing from Al Rajhi Bank
Al Rajhi Bank offers car financing through Carsvid. The profit rate starts at 5%, the minimum salary is SAR 4,000, and the financing period extends up to 60 months.
Requirements:
- Valid national ID or residency permit.
- Valid driver’s license.
- Detailed salary certificate, signed and certified by the Chamber of Commerce.
- Three-month bank statement for customers whose salaries are not transferred.
- Social Insurance certificate for customers whose salaries are not transferred.
- Additional documents proving income when required.
Terms:
- Financing is available for new and used cars.
- The minimum salary starts at SAR 2,000 for customers transferring their salaries when financing new cars.
- The minimum salary is SAR 4,000 for used cars with salary transfer.
- The minimum salary is SAR 6,000 for used cars without salary transfer.
- Down payment starting from 0% with salary transfer, and 5% without salary transfer for used cars.
- Financing period of up to 60 months.
- Final payment of up to 25% with salary transfer and 20% without salary transfer for used cars.
Car Financing from Riyad Bank
Riyad Bank provides another car financing option through Carsvid. The profit rate starts at 4%, the minimum salary is SAR 5,500, and the financing period extends up to 60 months.
Requirements:
- Original national ID or valid residency permit.
- Salary certificate issued within the past two months.
- Original valid driver’s license.
- Completed lease financing application form.
- Three-month bank statement for customers who do not transfer their salaries.
- Salary transfer letter for customers who transfer their salaries.
- Car quotation from an authorized dealer or showroom.
Terms:
- The applicant must be at least 18 years old.
- Minimum salary of SAR 4,000 for customers who transfer their salaries.
- Minimum salary of SAR 5,000 for government-sector employees and retirees without salary transfer.
- Minimum salary of SAR 5,500 for private-sector employees without salary transfer.
- At least one month of service for customers who transfer their salaries.
- At least three months of service for customers who do not transfer their salaries.
- Financing is available to Saudis and non-Saudis according to the terms applicable to each category.
Car Financing from Bank Aljazira
Bank Aljazira is one of the well-known financing providers in Mecca. The profit rate starts at 3%, the minimum salary is SAR 5,000, and the financing period extends up to 60 months.
Requirements:
- Valid national ID, GCC ID, or residency permit.
- Official proof of income, such as a salary certificate, Social Insurance statement, or bank statement.
- National address.
- Valid Saudi driver’s license for the customer or authorized driver.
- Car quotation from an authorized dealer or showroom.
- Contact details, including mobile, work, and home phone numbers.
Terms:
- Financing is available to Saudis and residents.
- Minimum salary of SAR 4,000 according to the detailed requirements.
- Salary transfer is not required.
- Financing period from 12 to 60 months.
- Financing of up to SAR 800,000 per car.
- Financing for up to three cars.
- Comprehensive insurance throughout the lease period.
- Flexible down payment
Car Financing from Saudi National Bank
You can also review Saudi National Bank offers. The profit rate starts at 4%, the minimum salary is SAR 3,500, and the financing period extends up to 60 months.
Requirements:
- Car quotation.
- Copy of a valid national ID or residency permit, with the original presented for verification.
- Copy of a valid driver’s license, with the original presented for verification.
- Salary introduction letter from the employer.
- Original Social Insurance letter for certain employment categories.
Terms:
- Minimum salary of SAR 2,500 for employees transferring their salaries to Saudi National Bank.
- Minimum salary of SAR 4,000 for employees transferring their salaries to other banks.
- Financing requirements vary according to employment sector and salary transfer.
- Financing is available to employees and retirees.
Car Financing from Alinma Bank
Alinma Bank offers a car financing option through Carsvid, with a profit rate starting at 4%, a minimum salary of SAR 4,000, and a financing period of up to 60 months.
Requirements:
- Valid national ID or residency permit.
- Valid driver’s license.
- Car quotation from the supplier.
- Salary introduction letter.
- Salary confirmation letter for customers required to transfer their salaries.
- Bank statement for customers not required to transfer their salaries.
- An active account with Alinma Bank.
Terms:
- Financing is available to Saudis and residents.
- Minimum salary of SAR 4,000.
- Financing complies with Sharia principles.
- Financing period of up to 60 months.
- Financing amount of up to SAR 1 million.
- Financing available up to age 65 for employees and 75 for retirees.
- Financing without a down payment, with a final payment of up to 60%.
- Financing for up to three cars.
- Salary transfer is not required for some programs.
Car Financing from Arab National Bank
Arab National Bank offers car financing through the platform. The profit rate starts at 4%, the minimum salary is SAR 4,000, and the financing period extends up to 60 months.
Requirements:
- Copy of a valid national ID or residency permit.
- Valid driver’s license.
- Certified salary introduction letter.
- Car quotation from an authorized dealer or showroom.
- Three-month bank statement or Social Insurance certificate as proof of income.
Terms:
- Financing complies with Islamic Sharia provisions.
- Financing amount of up to SAR 1 million.
- Salary transfer is not required.
- Final payment of up to 40%.
- Possibility of rescheduling the final payment according to the bank’s policy.
- Financing without a down payment for certain categories.
- Decreasing comprehensive insurance throughout the contract period.
- Financing is available for various types of cars.
Car Financing from Bank Albilad
Bank Albilad is one of the options available through Carsvid. The profit rate starts at 4%, the minimum salary is SAR 3,500, and the financing period extends up to 60 months.
Requirements:
- Valid proof of identity or residency permit for residents.
- Salary certificate from the employer.
- Salary transfer letter for customers financing under a salary transfer guarantee.
- Car quotation and specifications.
- Three-month salary statement for customers without salary transfer.
- Proof of residence and work and home location sketch for customers without salary transfer.
- Valid Saudi driver’s license.
- Opening a current account with Bank Albilad.
- Proof of payment of the down payment and administrative fees to the dealer or showroom.
Terms:
- The applicant must be at least 18 years old.
- The customer must be employed by an approved public- or private-sector entity, or be retired.
- The employee must not be over 65 when paying the final installment.
- The retiree must not be over 70 when paying the final installment.
- A current account with Bank Albilad is required.
Car Financing from Emirates NBD
You can also review Emirates NBD offers. The profit rate starts at 4%, the minimum salary is SAR 5,000, and the financing period extends up to 60 months.
Requirements:
- Valid national ID or residency permit.
- Valid driver’s license.
- National address.
- Salary introduction letter.
- Three-month bank statement.
- Car quotation.
Terms:
- Minimum salary of SAR 8,000 for employees.
- Minimum income of SAR 20,000 for business owners.
- Employees must be between 21 and 60 years old during the repayment period.
- Business owners must be between 25 and 65 years old during the repayment period.
- At least one month of service for customers who transfer their salaries.
- At least three months of service for customers who do not transfer their salaries.
- The business must have been owned for at least one year.
- Financing for three cars for Saudis and two cars for non-Saudis.
- Residents with less than two years of employment may be required to pay an additional 5% of the car value as a down payment.
Financing Companies for Buying a Car in Mecca
In addition to banks, Carsvid includes several financing companies whose offers you can compare, helping you explore different options based on your income, financial obligations, and car budget.
Car Financing from Abdul Latif Jameel
Carsvid allows you to review Abdul Latif Jameel car financing offers. The profit rate starts at 10%, the minimum salary is SAR 2,500, and the financing period extends up to 60 months.
Requirements:
- Copy of the national ID or residency permit, matching the original.
- Recent salary introduction letter certified by the responsible authority.
- Copy of a valid driver’s license, matching the original.
Terms:
- Financing is available to Saudis and residents.
- Employment in the public or private sector.
- Minimum salary of SAR 3,000
Car Financing from Aloula Finance
Aloula Finance is among the financing providers available in Mecca, with a profit rate starting at 10% and a minimum salary of SAR 2,500.
Requirements:
- Valid national ID or residency permit.
- Valid driver’s license.
- National address.
- Salary introduction letter.
- Three-month bank statement.
- Car quotation.
Terms:
- Financing is available to employees and retirees.
- Applicants must be between 18 and 60 years old.
- Minimum salary of SAR 3,500 for Saudis.
- Minimum salary of SAR 4,000 for residents.
- 15% down payment for residents.
- Financing amount from SAR 20,000 to SAR 500,000.
- Service period of four months for the private sector, three months for the semi-government sector, and one month for the government sector.
- Repayment period from 6 to 60 months.
- Salary deduction ratio of up to 45%.
Car Financing from JeePay
JeePay offers one of the financing options listed on Carsvid. The profit rate starts at 5%, the minimum salary is SAR 4,000, and the financing period extends up to 60 months.
Requirements:
- Salary introduction letter.
- Valid national ID or residency permit.
- Three-month bank statement.
- Valid driver’s license.
Terms:
- The applicant must be at least 21 years old.
- Minimum salary of SAR 3,500.
- Service period of at least three months.
Car Financing from Alraya Financing
Carsvid also allows you to compare Alraya Financing offers. The profit rate starts at 9%, the minimum salary is SAR 3,500, and the financing period extends up to 60 months.
How Does Carsvid Help You Get Car Financing in Mecca?
Carsvid gives you access to a range of car financing offers from multiple banks and financing companies on one platform, making it easier to compare options instead of searching for each provider’s offers separately. The financing experience through Carsvid combines choosing the right car with learning about its financing options. You can browse cars eligible for financing, review prices and estimated monthly installments, and then compare financing providers according to the available information. The platform’s main services include:
- Comparing financing offers: Review bank and financing company offers and compare profit rates, monthly installments, and minimum salary requirements.
- Car financing calculator: Estimate the monthly installment based on the car price, financing provider, and repayment period.
- Submitting a financing application: Start the financing application process through the platform.
- Browsing cars eligible for financing: Choose a car and review its price and estimated monthly installment.
- No financing application fees: Carsvid states that it does not charge fees for submitting a financing application.
You can therefore start by choosing the car that suits your needs in Mecca, then explore and compare the available financing offers before submitting an application.
How Do You Compare Car Financing Offers?
When searching for car financing in Mecca, it is not enough to look only at the profit rate or monthly installment. It is better to compare several details that help you understand the actual cost of financing and how well it suits your financial capacity. The most important elements to consider include:
- Monthly installment: Make sure the installment amount is suitable for your income and monthly obligations.
- Profit rate: Compare the rates advertised by financing providers and review the actual rate in the final offer.
- Minimum salary: Make sure you meet the income requirements of the provider you wish to apply to.
- Financing period: The installment amount varies according to the repayment period, so compare the available terms.
- Down payment: Review the amount required at the beginning of the financing.
- Final payment: Check its amount and its effect on your total financial obligation.
- Total cost: Do not rely on the monthly installment alone. Review the total amount due, fees, and contractual terms.
Car Financing Calculator to Know Your Monthly Installment
The financing calculator on Carsvid helps you obtain a preliminary estimate of the monthly car installment before submitting a financing application by entering several details, selecting a financing provider, and choosing the repayment period.
Try the financing calculator now
What Information Does the Carsvid Calculator Provide?
The calculator allows you to specify the following information:
- Financing provider: Choose the bank or financing company whose offer you want to view.
- Car price: Enter the value of the car to be financed.
- Down payment: The calculator displays its value according to the financing settings.
- Final payment: Shows the amount due at the end of the financing period.
- Financing period: Choose between one, two, three, four, or five years.
- Estimated monthly installment: Displays the installment amount based on the entered information.
What Are the Steps for Using the Financing Calculator?
You can use the calculator by following these steps:
- Go to the financing page on the Carsvid website.
- Go to the car financing calculator.
- Choose the bank or financing provider.
- Enter the price of the car you want to buy.
- Choose the appropriate financing period.
- Review the displayed down payment and final payment.
- View the estimated monthly installment.
- Submit a financing application after choosing the suitable offer.
Example of Calculating a Car Installment Through Carsvid
The Carsvid calculator shows how to estimate the monthly installment according to the car price, financing provider, and repayment period. For example, when choosing a car priced at SAR 110,000, selecting Abdul Latif Jameel as the financing provider, and choosing a one-year repayment period, the calculator displays the following information:
| Financing Details | Value |
|---|---|
| Car price | SAR 110,000 |
| Financing provider | Abdul Latif Jameel |
| Financing period | One year |
| Final payment | SAR 33,000 |
| Estimated monthly installment | SAR 2,338 |
This result helps you form an initial idea of your monthly obligation, bearing in mind that the actual installment and rate may vary according to your credit history and the criteria of the selected financing provider. Do you want to know your car installment before buying? Use the car financing calculator on Carsvid, enter the car price, and choose the financing provider and repayment period to obtain a preliminary estimate.
Which Cars Can You Finance Through Carsvid?
Carsvid offers a range of cars eligible for financing, including models from various brands. You can view each car’s price and the estimated monthly installment at which financing begins. This information helps you compare cars not only by price but also by the expected monthly obligation, allowing you to choose the model that suits your budget and needs in Mecca. The following are some cars available for financing:
| Car and Model | Condition | Car Price | Estimated Monthly Installment |
|---|---|---|---|
| 2023 Toyota Highlander | New | SAR 123,900 | SAR 2,375 |
| 2023 Toyota Highlander – Higher Trim | New | SAR 129,500 | SAR 2,482 |
| 2024 Toyota Fortuner | New | SAR 116,900 | SAR 2,241 |
| 2024 Toyota Fortuner | New | SAR 116,500 | SAR 2,233 |
| 2024 Hyundai Santa Fe | New | SAR 115,500 | SAR 2,214 |
| 2025 Ford Taurus | New | SAR 127,800 | SAR 2,450 |
| 2024 Geely Tugella GF | Used | SAR 70,000 | SAR 1,342 |
Steps to Apply for Car Financing in Mecca
Carsvid combines browsing cars, comparing financing offers, and submitting an application, making the search for a car through installments easier and clearer. You can begin by following these steps:
Browse Available Cars
Go to the car section on Carsvid and browse the available models. Compare prices, specifications, and different trims until you find the car that suits your needs and budget.
Review Financing Options
Go to the financing page to view the offers from the 12 banks and financing companies listed on the platform, and review profit rates, minimum salary requirements, and estimated monthly installments.
Calculate the Monthly Installment
Use the financing calculator to enter the car price, choose the financing provider and repayment period, then review the monthly installment and displayed payments.
Submit a Financing Application
After choosing the car and suitable offer, click the “Submit Financing Application” option and follow the application steps through the platform.
Complete the Financing Procedures and Receive the Car
Financing applications are subject to assessment by the financing provider and its eligibility requirements. After approval, completing the procedures and signing the contract, you can finalize the car delivery arrangements according to the offer details and available delivery service.
Benefits of Car Financing Through Carsvid
Carsvid offers an experience that combines choosing a car, accessing financing options, and comparing installments, along with several benefits that assist you throughout the purchasing journey. The main benefits include:
- Multiple financing solutions: View offers from 8 banks and 4 financing companies.
- Compare offers in one place: Review installments, profit rates, minimum salary requirements, and financing periods.
- No financing application fees: Start a financing application through the platform without paying a fee for the application itself.
- Car financing calculator: Estimate installments and payments before making a purchase decision.
- Thoroughly inspected cars: Cars undergo a comprehensive inspection covering more than 150 points.
- One-year free warranty: Covers the engine, gearbox, air conditioner, brake system, and steering box.
- Car delivery service: Choose a car online and benefit from delivery to your doorstep within the available service area.
Therefore, the Carsvid experience is not limited to browsing cars. It also allows you to explore the financing options associated with them and compare the details before applying.
Frequently Asked Questions
Which banks are available for car financing in Mecca?
The banks available for car financing through Carsvid include Al Rajhi Bank, Riyad Bank, Bank Aljazira, Saudi National Bank, Alinma Bank, Arab National Bank, Bank Albilad, and Emirates NBD.
Which financing companies are available for car financing in Mecca?
Four financing companies are available for car financing in Mecca through Carsvid: Abdul Latif Jameel, Aloula Finance, JeePay, and Alraya Financing. You can review and compare their offers with those of the available banks.
What is the lowest profit rate available through Carsvid?
The lowest advertised profit rate starts at 3% with Bank Aljazira. The actual rate may vary depending on the offer, customer, and financing provider’s terms.
What is the minimum salary required to obtain car financing through Carsvid?
It starts at SAR 2,500 with Abdul Latif Jameel and Aloula Finance. The minimum salary varies between financing providers, and all other eligibility requirements must also be met.
How can I calculate my car’s monthly installment?
Go to the financing page and use the calculator, then choose the financing provider, enter the car price, and select the repayment period. The estimated monthly installment and related payments will then be displayed.
Does Carsvid charge fees for submitting a financing application?
No, Carsvid does not charge any fees for a financing application. However, you should review the offer and contract details with the financing provider to identify any other applicable costs or fees.
Can I choose a financing period of up to five years?
Yes, the Carsvid financing calculator allows you to choose a period ranging from one to five years, while the financing providers’ page displays periods of up to 60 months for the listed offers.
Can I buy a car with financing without a down payment?
Yes, car financing without a down payment may be available through Carsvid. The possibility depends on the available offer, the financing provider’s terms, and the customer’s eligibility.
Can citizens and residents apply for financing through Carsvid?
Application requirements vary according to nationality and financing provider. You can review the financing terms for citizens and residents and the required documents before submitting an application.
Start Your Journey to Buying a Car Through Installments in Mecca with Carsvid
If you are looking for a car that suits your needs and budget in Mecca, Carsvid allows you to browse a range of cars eligible for financing and compare offers from banks and financing companies, as well as use the financing calculator to know the estimated monthly installment before applying. Start browsing the available cars, explore the financing offers, and choose the option that suits your financial capacity. With Carsvid, you can combine choosing your car and comparing its financing options in one digital experience.
