Latest Update Date 2021-01-13
It is the discount rate at which the present value of all payments and installments that are due from the Borrower, representing the Total Amount Payable by the Borrower, equals the present value of all payments of the Amount of Financing available to the Borrower on the date on which the Financing amount or the first payment thereof is available to the Borrower.
Asset Type | Down payment | Finance Amount | Maturity in Years | APR | Monthly Repayment Amount | Residual Value |
---|---|---|---|---|---|---|
Car | 5% | 68,940 | 60 | 13.63% | 1,279 | 20,945 |
Asset Type | Down payment | Finance Amount | Maturity in Years | APR | Monthly Repayment Amount | Residual Value |
---|---|---|---|---|---|---|
سيارات | 0% | 90,330 | 60 | 15.35% | 1,896 | 24,726 |
Asset Type | Down payment | Finance Amount | Maturity in Years | APR | Monthly Repayment Amount | Residual Value |
---|---|---|---|---|---|---|
سيارات | 0% | 90,100 | 60 | 17.34% | 1,961 | 27,386 |
APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer and the actual cost of the insurance .
The contract stipulates the amount of financing you will receive in addition to the period of repayment of the installments, stating their value and the maturity date of these installments. The data also include the cost of obtaining funding in terms of knowing the fixed term cost rate and management fees.
The duration of the contract agreed upon between the parties, which shall indicate the date and expiry of the contract with the parties' with the terms of the contract
These payments are recognized in the contract, and the lessee is obliged to pay them on the due dates. The contract shall also include a schedule of repayment installments, in which the value of the asset's rent and the value of the right of ownership shall be shown separately, provided that the premium for any period shall not be less than the principal's rent for that period in the contract.
The last payment is usually 0 % to 35% of the car price which you decide to pay at the end of the lease. It makes the monthly rentals that you pay less, but you have to be ready to make a large payment at the end of the lease.
Type of financing | Product | APR | Administrative fees | A minimum or a maximum of the administrative feesة |
---|---|---|---|---|
Ijara / Murabaha | Less than 12 months old | 6.5% - 8.5% | 1% | Maximum limit of 5000 |
Ijara / Murabaha | More than 12 months | 7.5% - 9.5% | 1% | Maximum limit of 5000 |
Type of financing | Asset Type | Finance Amount | Duration of the contract | Profit margin | Monthly Repayment Amount |
---|---|---|---|---|---|
Murabaha | Car | 51,690 SAR | 12 | 6.5% | 4,588 SAR |
Murabaha | Car | 51,690 SAR | 12 | 7.5% | 4,631 SAR |
Murabaha | Car | 51,690 SAR | 12 | 8.5% | 4,674 SAR |
Type of financing | Asset Type | Finance Amount | Duration of the contract | Profit margin | Monthly Repayment Amount |
---|---|---|---|---|---|
Murabaha | Car | 51,690 SAR | 36 | 7.5% | 1,759 SAR |
Murabaha | Car | 51,690 SAR | 36 | 8.5% | 1,802 SAR |
Murabaha | Car | 51,690 SAR | 36 | 9.5% | 1,846 SAR |
Type of financing | Asset Type | Finance Amount | Duration of the contract | Profit margin | Monthly Repayment Amount |
---|---|---|---|---|---|
Ijara | Car | 51,690 SAR | 12 | 6.5% | 4,782 SAR |
Ijara | Car | 51,690 SAR | 12 | 7.5% | 4,825 SAR |
Ijara | Car | 51,690 SAR | 12 | 8.5% | 4,868 SAR |
Type of financing | Asset Type | Finance Amount | Duration of the contract | Profit margin | Monthly Repayment Amount |
---|---|---|---|---|---|
Ijara | سيارة | 51,690 SAR | 36 | 7.5% | 1,957 SAR |
Ijara | سيارة | 51,690 SAR | 36 | 8.5% | 2,001 SAR |
Ijara | سيارة | 51,690 SAR | 36 | 9.5% | 2,045 SAR |
APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.