Fleet Vehicle Finance

Whether you are considering to make a single vehicle acquisition for your business or a whole fleet or heavy trucks as well as machineries, Contact us for hassle free assistance and support for Commercial Fleet Vehicle Finance in UAE.

Apply for Commercial Fleet Vehicle Finance at Dhanguard to ease your cash flow statement and avoid reducing your reserve capital for business. The Fleet Vehicle financing program offers flexible and reasonable financing for businesses that are engaged in transport of passengers, bus rental, car and vehicle rental, tourism activities and any other commercial activity that functions an income-generating fleet of vehicles. Commercial Fleet Vehicle Finance are secured by a mortgage on the vehicles itself, together with fully inclusive of insurance coverage, rather than having to tie up with any other form of security. Fleet vehicle financing provides up to 90% of the vehicle purchase price to be finance that depends on the type of vehicle and business profile of the applicant with a fixed monthly instalment payment period that extends up to 48 months.

The features and benefits of commercial fleet vehicle finance in UAE are as follows-

  1. It has a flexible financing program for all new vehicles that are being purchased for fleet purpose.
  2. This type of finance of vehicles can be taken for either single vehicle or whole fleet of vehicle to be financed.
  3. There is availability for financing heavy trucks as well as machineries.
  4. The limit for finance can be up to AED 2.5 M.
  5. Processing fees of 1% of approved fleet limit is required.
  6. Modest financing rate and low processing fees.

The eligibility criteria for acquiring Fleet Vehicle Finance in UAE are as follows-

Eligibility Criteria for acquiring Fleet Vehicle Finance in UAE

Legally Registered Business Entity

Business entities should be legally registered in the UAE such as sole proprietors, partnerships and limited liability companies that operate vehicle fleets.

Existing Business

The Business has to be operating for at least one year with annual sales turnover of AED 1,000,000 or more.

Successful Financial History

Applicants should have completed minimum of two years business activities in the UAE with a successful financial history to avail Fleet Vehicle Financing.

New Vehicle Registration

All vehicles should be new to be financed as first registration.

Insurance Coverage

All financed vehicles should have comprehensive insurance coverage.

 

The required documents for applying for Fleet Vehicle Finance are as follows-

Documents for applying for Fleet Vehicle Finance

Identity Proof

You are required to submit your Identity Proof like National ID or valid passport with UAE residence visa and Emirates ID of all signing authorities and shareholders of the company, if applicable

Company Documents

Valid legal and constitutive documents such as Trade License, Certificate of Commercial Registration, Free Zone Certificate of Incorporation, Memorandum of Association, and Partnership Agreement whichever is applicable.

Power of Attorney

You are required to submit the Power of Attorney if applicable.

Board Resolution

You also need to submit Board Resolution if it is applicable.

Address Proof

You are required to submit the relevant documents as proof of address for your company.

Details of Owners

Provide with a list including the details of ultimate beneficial owners of the company.

Company Profile

Submit the following documents as company profile - Bank Reference Letter, if applicable. There is no requirement for audited financial statements.

Bank Statement

You are required to submit bank statement for 12 Months of the company.

Documents from the dealers

You need to submit dealer pro forma invoice for new vehicle purchase in reference to the documents required from the dealer

Cash Flow

The Applicant is required to submit the cash flow statement to forecast for income generating vehicle purchases

The categories of Fleet Vehicles are as follows-

  1. Light Transport Vehicle (LTV)
  2. Heavy Transport Vehicle (HTV)
  3. Medium Commercial Vehicles (MCV)
  4. Heavy Commercial Vehicles (HCV)
  5. Light Earth Moving Machinery (LEM)
  6. Medium Earth Moving Machinery (MEM)
  7. Heavy Earth Moving Machinery (HEM)
Fleet Vehicle Finance Related FAQ

Frequently Asked Questions