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Personal Banking > Loans > Masafat Car Loan
Masafat Car Loan
Do you love cars and want to buy one? Whether you wish to get a brand new or used car or even a van for your business, just sit back and let BLC Bank Masafat car loan get you there…
Enjoy the following benefits:
- 0% down payment on new and used cars
- Long repayment period of up to 7 years
- Insurance premium and registration fees can be financed with the loan amount
Financing available for up to 15-year-old cars
- Approval within 24 hours
- Low fixed interest rates throughout the term of the loan
- Same interest rates applicable on both USD and LBP loans
- Terrorism & Passive War cover, exclusively at BLC Bank, for USD 65 only
- No hidden fees and no life insurance costs
- All Risk and Total Loss motor insurance at very competitive rates
- Platinum All Risk motor insurance cover with no deductibles
- 24-hour emergency road assistance
- Pre-approved MasterCard credit card
Different options to suit your needs:
New car
- Loan amount: up to USD 150,000
- Interest rate: starting 0%
- Loan duration: up to 7 years
- Down payment: starting 0% down payment
Used car
- Loan amount: up to USD 60,000 or LBP 90,000,000
- Interest rate: starting 6.25%
- Loan duration: up to 6 years
- Down payment: starting 20%, depending on the car manufacturing year and loan period
Used car 11 to 15 years old*
- Loan amount: up to USD 60,000 or LBP 90,000,000
- Interest rate: 7.5%
- Loan duration: up to 4 years
- Down payment: minimum 50% of the car price
Utility cars*
- Loan amount: up to USD 30,000
- Interest rate: 4.9%
- Loan duration: up to 5 years
- Down payment: minimum 20% of the car price
How do you qualify?
- You need to be between 21 and 64 years old
- You need to have a regular monthly income starting at LBP 800,000 or USD 550
Required Guarantees
- Car mortgage in favor of the Bank
- Car insurance to the order of the Bank.
How to apply to Masafat?
All you need to do is complete the online application form after which the Bank will contact you to finalize the procedure.
Please note that the following documents are required to apply for the loan:
- Copy of your national ID or valid passport
- Proof of residence
- Driver's license
- Syndicate card (if available)
- If employed, a recent and original employment certificate confirming the date of employment, position held, salary and NSSF number if available
- If self employed, a copy of your company’s Commercial Circular and a Declaration of Income
* For all car brands except Korean
* Chinese and Korean brands: loan period up to 4 years, with 5.5% interest and 50% down payment
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