Riyad Bank Car Finance: Conditions, New and Used Cars

ehab

2026-11-09

Car finance is a solution many customers in Saudi Arabia use to get a car without paying its full value at purchase. Riyad Bank offers lease financing programs for new and used cars, with a choice of approved sellers, flexible repayment plans and comprehensive insurance during the contract. Conditions vary with the customer, the car and the chosen program. Read our overview of car finance requirements in Saudi Arabia for context.

Below we look at Riyad Bank’s conditions, features, documents, the difference between new and used car finance, and how to apply.

What is Riyad Bank car finance?

Riyad Bank car finance

Riyad Bank finances cars through lease financing, which lets you choose a car and use it under a contract that sets the term, installments and each side’s obligations. New-car programs come with flexible repayment plans, and the bank allows early settlement and transfer of ownership during the term, plus options such as authorizing another driver or substituting another customer under its conditions. A separate program exists for used cars, which widens your choices. See also Al Rajhi’s car finance and how lease financing works.

Features of Riyad Bank car finance

Programs for new and used cars.
Flexible repayment plans.
Comprehensive insurance throughout the contract.
Finance for Saudis and residents under each program’s conditions.
Options with or without a salary transfer, depending on eligibility.
Early settlement and transfer of ownership.
Authorizing another driver under the bank’s rules.
Choice of dealers or approved parties, depending on the program.

Riyad Bank car finance conditions

Conditions vary with the applicant’s nationality, employer, whether the salary is transferred and the type of car. The bank looks at:

The applicant’s age.
Net monthly income.
Length of service with the employer.
Whether the employer is approved by the bank.
Salary transfer or finance without it.
Credit history and record.
The documents required for the program.
Buying from a seller approved by the bank.

Car finance without a salary transfer

Some customers can get Riyad Bank car finance without transferring their salary, so the salary keeps going to the bank they already use. The eligibility rules can differ from those with a salary transfer, for example income, length of service and other credit criteria, and a salary statement may be needed. Check you meet every condition before applying, and estimate your payment with the car loan calculator.

Finance for new cars

You choose a new car from the bank’s approved dealers or showrooms and use lease financing under the plan that suits you. Details depend on the car’s value, the term, your financial and credit position and the agreed payments. The program includes comprehensive insurance for the whole contract and allows transfer of ownership through early settlement under the bank’s procedures.

Finance for used cars

Riyad Bank also finances used cars through a dedicated lease program. You buy from sellers accepted by the bank, subject to rules about the car’s condition, age, warranty and the seller. The program offers comprehensive insurance and an optional final payment, with details varying by car and customer.

How to apply

Start through the bank’s application channels by getting a preliminary approval, then complete the documents and review the finance details and the car’s offer.

Choose a suitable car from an approved seller.
Submit the finance request.
Enter the personal and financial data required.
Receive preliminary approval after the request is reviewed.
Provide the required documents.
Review the finance details and the contract.
Complete the process and collect the car after final approval.

Is there insurance on Riyad Bank cars?

Yes. Lease financing includes comprehensive insurance for the whole contract. Read the policy and the contract to see what is covered, what is excluded and who is responsible after an accident or damage, rather than relying only on the fact that insurance is part of the program.

The 50/50 program

Riyad Bank’s 50/50 option is different from the usual monthly installment plan. You pay part of the car’s value, plus related finance and insurance costs, as a down payment, then pay the remainder as a final payment after the program’s term. It may suit customers with enough cash for a larger down payment who want fewer regular obligations. Study the final payment and be sure it fits your finances before you sign.

Finance your car with Altamweean

Altamweean offers a wide range of cars for customers in Saudi Arabia, with options to help you choose a car and a payment plan that suit you. Compare available cars and look at lease financing options before you decide.