Absa Islamic Vehicle And Asset Finance, How To Apply & Benefits

Are you interested to learn about the Absa Islamic vehicle and asset finance in South Africa? Then check out this article to learn.

This product finances you to get a vehicle or any other asset for personal or business use.

The loan is shariah-compliant, meaning that there is no interest on the loan.

We will first show you the finance options for this loan.

Table of Contents

What Are The Finance Options

You can choose to sell and lease back the finance loaned to you.

You can alternatively opt for specialized finance for marine and aviation financing.

These are the financial options for Islamic vehicle and asset finance in South Africa.

The shariah law using the concept of Ijarah allows you to access movable assets or a vehicle for a fixed period and price.

You get 100% financing and tax benefits from this financing.

You get flexible payment options that reduce your monthly rental fee.

You can choose to make balloon payment or installment payment.

At the end of the lease, you can choose the finance option that suits your needs.

For a vehicle, you can choose to purchase it at an agreed price or continue to use it at a reduced or no rental fee.

These are the features of the Islamic vehicle and asset finance in South Africa.

We will now show you the benefits of this loan.

You have an option of an insurance cover Absa to protect you and the vehicle.

You have access to the services below:

These are the benefits of the Islamic vehicle and asset finance in South Africa.

Now that you know the benefits of the loan, we will now show you how to apply for this finance.

The Islamic financing is available online, in Absa branches, and all Absa-approved dealerships.

First, you need to find the vehicle or asset you want to purchase.

Agree with the bank on the profit rate, monthly repayment amount, and repayment period for the loan issued.

You will then get your vehicle or asset once all the documents have been signed.

This is how to apply for the Absa Islamic vehicle and asset finance in South Africa.