The SME Department at Al-Futtaim Motors shares the launch of three Toyota Business Centers dedicated to serve SME customers across the UAE. Al-Futtaim Motors, being the reputed automotive brand and customer’s choice, offers the strongest finance packages and flexible payment options to its customers.
Q: Tell us more about Al-Futtaim Motors’ SME benefits?
Over the past four years, the SME business at Al-Futtaim Motors has grown by 120%. This, in large part, is due to our belief that the SME sector is one of the most vital and fastest growing sectors in the UAE. This year also marks some truly exceptional developments in our SME business, with the launch of three Toyota Business Centers, dedicated to service its SME customers in Abu Dhabi, Dubai, and Sharjah and the Northern Emirates. This means exclusive account management, faster enquiry response, vehicle registration support, dedicated delivery process, aftersales packages, leasing facilities, Total Cost of Ownership (TCO) approach and Fleet Management consultancy, ensuring Al-Futtaim Motors’ SME customers experience the company’s full range of Toyota Business Solutions. No one else in the market comes close to providing such a thorough and dedicated customer approach to SMEs.
Q: What financial benefits do you offer customers?
Al-Futtaim Motors enjoys strong relationships with partner banks. This, coupled with a strong Customer Profile and Strong Residual Values across our vehicle range, provides our partners significant comfort in providing solutions such as 0% Down payment and flexible underwriting in line with customer credit worthiness, and extremely competitive market rates allow us to offer the strongest finance packages and offers across the UAE Automotive industry.
Q: As a car dealer, do you also help your customers with auto financing? What are the features and benefits for auto financing a car?
Through Al-Futtaim Finance we work closely with a large number of partner institutions to provide auto financing to our customers.
Q: Is auto-financing available for new and the used cars as well?
Yes, financing is available on both new and used vehicles.
Q: What is the process and documentation required to apply for the car loan? How long does the approval take?
The process differs between financial institutions, including the paperwork required and the time required to get approval. We recommend our customers go with the financial institution that best serves their needs, and our Sales team will provide guidance basis their knowledge of our Banking Partners Credit policy.
Q: Do you follow the Islamic concept of ‘Murabaha’?
As we do not directly finance our customers, but instead support our customers obtain credit from partner banks – we observe and support the solutions provided to all customer types including Islamic and Conventional Auto facilities.
Q: Which banks and financial institutions has Al-Futtaim Motors tied up to provide car loans?
We have partnerships cross 14 banks – 6 Islamic and 8 conventional. 85% of all auto financing is provided by 6 banks (Dubai Islamic, Abu Dhabi Islamic, Emirates Islamic, National Bank of RAK, Emirates National Bank of Dubai and National Bank of Abu Dhabi), while our other partners operate in a more specialised capacity, financing specific industry or customer types.
Q: How does Al-Futtaim Motors customize the loan schemes for SMEs, given the fluctuating policies and economy?
We constantly look to create innovative customer value and service propositions through marketing campaigns that may run for a quarter or even monthly.
Q: Which are the various payment modes accepted?
We accept all payment forms, including cash, debit, credit and certified cheques.
Q: Are there any financing restrictions imposed on certain vehicle categories like sports cars or luxury cars?
All credit facilities are arranged based on the customer and not the vehicle, meaning that all of our vehicles are available for financing based on the UAE Central bank Credit Policy and Norms.