| Minimum Revenue | Maximum Loan Amount | Equity Required | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Comfi - Dealer Financing
|
Minimum Revenue: AED 100,000 | Maximum Loan Amount: AED 5,000,000 | Equity Required: Yes | Maximum Term: 1 Years | Flat Rate: 0.0% | Reducing Rate: 0.0% |
Conditions:
- Minimum Monthly Revenue
- Maximum Loan Limit
- Maximum Term
- Processing Fee 0 AED
Features:
- Designed to improve cash flow, purchasing power and sales for used automotive dealers
- Get up to 90% financing against your in-stock vehicles
- Receive funds within 2 hours of approval
- Unlock working capital tied up in unsold inventory, without waiting for vehicle sales
- Maximize your stock and keep sales moving
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
