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AL-FUTTAIM FINANCE
About Us
Products & Services
Schedule of Charges
Annual Financials
Announcements
Contact Details
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 many 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
- 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.
Why is Drive on Lease (DOL) so convenient?
- Drive a brand-new car more frequently
- No need to worry about vehicle depreciation
- Low upfront payment
- Full flexibility with option to buy the car at the end of the term for a pre-determined price
What does it include?
- Complementary service and maintenance
- Comprehensive insurance coverage and repair
- Annual registration management
- Fine and road toll administration
- Breakdown and recovery services
- Passenger Accident Insurance (PAI)
Your options at the end of the contract:
- Buy the car at the price fixed at the start of the lease contract
- Return the car at the end of the term
- Replace the car with a new lease
Description
Drive-on-Lease (DOL) is a convenient fixed-cost mobility plan with the option to buy the vehicle at a pre-determined price. It is completely hassle-free, with a low initial down payment, and an all-inclusive monthly lease amount. At the end of your contract, you will enjoy complete flexibility of buying, replacing, or returning your vehicle.
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 | 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 |
| 13 | Interest Rate per Annum | Starting from 4.5% per Annum (Flat Rate) |
Sr. No. | Charge Type | Amount (exclusive of VAT, if any) * |
1 | Processing fee (For new customers only) | AED 150 |
2 | Late Payment Charges | AED 50 or late payment interest calculated at the rate of 2% per annum on the overdue amount from the due date until payment, whichever is higher |
3 | Bounced/ Returned Direct Debit Charges | AED 150 |
4 | Traffic Fines | Amount of fine + 10% administration fee. In addition, where applicable: · AED.10/- Innovation fee. · AED 10/- Knowledge Fee |
5 | Tolls (Salik/ Darb) | Amount of toll + 10% administration fee |
6 | Late Vehicle Hand Back Charge | AED 100 per day (in addition to the Lease Payments) |
7 | Valeting Charges for Removal of Pet Hair or Smoking Odor | AED 500 |
8 | Recovery Assistance Due to Battery Discharge for Electric Vehicles | AED 200 to bring the Vehicle to nearest charging station |
9 | Loss, Theft or Damage to Electric Vehicle Accessories (Chargers, Charge Cables, etc.) | Full replacement cost paid by the Lessee |
10 | Oman Insurance Charges | AED 90.00 per day AED 500.00 per week AED 1200.00 per month |
11 | Fuel Charges | The prevailing market price of the fuel used to fill the Vehicle’s tank plus a 20% administration fee |
12 | Vehicle Service Failure (refer clause 12.3(b) f Master Lease Agreement) | AED 2500.00 per incident. |
13 | Vehicle Branding Charges | Available upon request |
14 | Issuance of Police Report on Behalf of Customer | Actual charges + AED 200 |
15 | Modification/amendment of Police Report | Actual charges + AED 100 |
16 | Issuances of Prosecution Judgment (Drink Driving Case) and Other Accident Reports | Actual charges + AED 300 |
17 | Vehicle Release for Drink Driving Cases | Actual charges + AED 1000 |
18 | Black Point Clearance – Documentation | Actual charges + AED 50 |
19 | Settlement of Property Damage / 3rd Party Liability | Actual charges + AED 500 |
20 | Transfer of Registration Plate from AUH to DXB | Actual charges + AED 150 |
21 | Recovery Assistance due to: · Lock out · Refueling of the Vehicle · Electric Vehicle Battery Discharge | Actual charges |
22 | Electric Vehicle Charging Fee | The cost per Kw charged by DEWA |
23 | Electric Vehicle Charging Card Replacement Fee | AED 220 |
24 | Black Charging Cable Replacement | AED 2500 |
25 | Dewa Charging Cable Replacement | AED 3500 |
26 | Charging Cable Bag Replacement | AED 300 |
27 | Battery Administration Fee (if Battery Level is 50% or Less at Time of Return of Electric Vehicle) | AED 100 |
Sr. No. | Charge Type | Amount (exclusive of VAT, if any) * |
1 | Processing fee (For new Lessees only) | AED 150 |
2 | Late Payment Charges | AED 50 or late payment interest calculated at the rate of 2% per annum on the overdue amount from the due date until payment, whichever is higher |
3 | Bounced/ Returned Direct Debit Charges | AED 100 |
4 | Traffic Fines | Amount of fine + AED 35.00 administration fee. In addition, where applicable:
|
5 | Tolls (Salik/ Darb) | Amount of toll + 10% administration fee |
6 | Late Vehicle Hand Back Charge | AED 100 per day (in addition to the Lease Payments) |
7 | Valeting Charges for Removal of Pet Hair or Smoking Odor | AED 500 |
8 | Recovery Assistance Due to Battery Discharge for Electric Vehicles | AED 200 to bring the Vehicle to nearest charging station |
9 | Loss, Theft or Damage to Electric Vehicle Accessories (Chargers, Charge Cables, etc.) | Full replacement cost paid by the Lessee |
10 | Oman Insurance Charges | AED 90 per day AED 500 per week AED 1200 per month AED 500 Refundable Security Deposit AED 420 Trip Ticket (Valid for 1 Year) AED 170 RTA certificate (Valid for 6 months, restricted to one trip) AED 250 Admin Charge NOC (No charge) |
11 | Fuel Charges | The prevailing market price of the fuel used to fill the Vehicle’s tank plus a 20% administration fee |
12 | Vehicle Service Failure (refer clause 12.3(b) f Master Lease Agreement) | AED 2500.00 per incident. |
13 | Vehicle Branding Charges | Available upon request |
14 | Issuance of Police Report on Behalf of Lessee CID & RTA Approval for Branding Permit Transport Permit Loading & Unloading Permit | Actual charges + AED 200 |
15 | Modification/amendment of Police Report Issuance of Damaged, Missing Registration Plate Parking Permits Application for Disputing Fines on Behalf of Lessee Issuance of Transport Permit | Actual charges + AED 100 |
16 | Issuances of Prosecution Judgment (Drink Driving Case) and Other Accident Reports | Actual charges + AED 300 |
17 | Vehicle Release for Drunk Driving Cases | Actual charges + AED 1000 |
18 | Black Point Clearance – Documentation Lock Fine Release Fees Application for Asateel Permit | Actual charges + AED 50 |
19 | Settlement of Property Damage / 3rd Party Liability | Actual charges + AED 500 |
20 | Transfer of Registration Plate from AUH to DXB | Actual charges + AED 150 |
21 | Recovery Assistance due to:
| Actual charges |
22 | Electric Vehicle Charging Fee | The cost per Kw charged by DEWA |
23 | Electric Vehicle Charging Card Replacement Fee | AED 220 |
24 | Black Charging Cable Replacement | AED 2500 |
25 | Dewa Charging Cable Replacement | AED 3500 |
26 | Charging Cable Bag Replacement | AED 300 |
27 | Battery Administration Fee (if Battery Level is 50% or Less at Time of Return of Electric Vehicle) | AED 100 |
Note: Unless a payment, fee or charge payable under this Schedule of Fees and Charges is expressed as being inclusive of VAT, such payments, fees and charges shall be deemed to be exclusive of VAT (if any).
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 |
If the customer is not satisfied with the final resolution provided by Al-Futtaim Finance, they may escalate the complaint to Sanadak through any of the following channels:
Website – www.sanadak.gov.ae
Call Center – 800 SANADAK
Mobile App – Sanadak
Contact Us
General Contact Details:
| Telephone No.: | 800 23562 / +971 4 304 7600 |
| Email Address: | AFF.customerservice@alfuttaim.com |