Getting a car loan in Bahrain

Also interested to know as I wish to buy a second hand car soon.
Also is it a requirement to have a Bahraini drivers license to buy a car?

Hello!

If your buying a new car, then usually the car dealer will have a tie up with some bank, you could also go with your choice of bank (where your salary gets transferred to or others as well). I have heard that car model dating to 2009 and early some banks dont provide loan on them, in any case first talk to the bank of you choice to get a good deal and im sure all the details will be provided by them and i am guessing CPR will suffice to buy a car (hopefully someone could clarify it )


good luck

T&R

I have been told by dealers usually if getting a loan the car should be no less than 5 years old though if it is 6 banks may still consider giving a loan for it.

When I was contemplating a new car loan, this is what I found:
National Bank of Bahrain would give me a loan @ 8% interest. I have a salary account with them. For local Bahrainis, the rate of interest was 3%

Standard Chartered Bank would give me a loan @3% if I transferred my salary account to them. Otherwise, they would advance me a loan at 4% rate of interest.

These interest rates were fixed, not diminishing, by the way.

I'm with standard chartered so will probably take the loan out with them

We've just used Standard Charter for our car finance. I can give you the rep's details if you require. He came to our house. They offer cheaper rates for a direct salary transfer. they require 3 months bank statements, 3 months pay slips and a salary statement from your employer. Passport and visa copies were taken as well. No mention of a Bahrain driving license. there is also the possibility of paying off the loan early with a 1% charge, less the outstanding interest.

Thank you! I would love to grab the details of you