RIYADH — As part of a major initiative to finance sale of cars on lease-cum-purchase basis, Al-Rajhi Bank has opened world-class showrooms in eight cities across the Kingdom.
“The bank now provides a unique service under which customers can visit the showrooms, select cars of their choice and obtain finance at the same time”, said Saud G. Al-Ghunaim, operation manager at Al-Rajhi Bank, here on Sunday.
Al-Ghunaim said that “Al-Rajhi Bank is among the first banks to offer a variety of innovative products to the market, such as the ‘Watani’ Program.” “Now, the bank has introduced this new, innovative offering for car buyers,” he said, adding that the bank collects popular brands of cars and put them under one roof every month in the bank’s showrooms in eight cities, where customers can walk in and buy. The bank, he said, has opened showrooms in Riyadh, Dammam, Jeddah, Medinah, Abha, Tabuk, Qassim and Ahsa. In all the showrooms, a kind of car fair is organized every month during the first weekend of the month (Hijrah month). Speaking on the occasion of the first Al Rajhi Car Exhibition, Ghunaim said that this idea to finance car sale evolved from the fact that the car loan financing market was in need of a variety of promotions to facilitate car leasing and owning.
He said that the Al-Rajhi Car Sale Exhibition “is a kind of one-stop-shop for car purchasers.” “Our primary target is the existing customers of our bank, but any prospective car buyer can also benefit from this offer,” said the bank official, noting that the bank ensures the customer that he or she gets the car of his/her choice at the most competitive price. Our slogan is “Best Car Deals, Under One Roof,” he said. Asked about the diverse types and models of the cars offered by Al-Rajhi Bank, he said that the priority is for the most popular car models. “The offer is Shariah-compliant and the customer is guaranteed the best deals from all aspects,” he said.
“Within half-an-hour, the bank gives approval for loan to buy the car,” said Sarhan Fajr Sameer Al Dhafeeri, the first Saudi national, who obtained the loan for car purchase.
“I visited a number of agencies in search of a car, when an Al-Rajhi advertisement drew my attention, and as promised, no down payment was necessary. Within a short time, I was able to obtain the car with no hassle at all,” he said, while recounting his experience. “I would like to thank Al-Rajhi Bank for providing this great opportunity and at the same time congratulate them on launching this successful program.”
