LEASING WITH SNB
We put the ease in lease
One of the great things about SNB Store is that every car is available through SNB Auto Lease to help you get the car you want at a budget you can afford.
What is car leasing?
Car leasing lets you purchase your car through monthly installments. This makes it easier for you to get the car now, then pay for it over a period of 1 to 5 years.
This makes it a very flexible option if you do not have the cash to buy the car outright. You can set the down payment and balloon payment (final payment) that works for you, as well as the number of years that you wish to pay.
Why lease with SNB?
Flexibility is our strengthBacked by Saudi’s biggest bank, we can customize your financing to best suit your lifestyle.
With SNB Auto Lease, we offer flexible down payments and balloon payments, and easy to manage monthly installments up to five years with an APR starting from 10.9%.
Simply convenientSNB Auto Lease requires minimum documentation from SNB current account holders. And everything is done online – so no paperwork necessary.
No surprisesWe make sure everything is clear and easy to understand, even the fine print.
How to purchase using SNB Auto Lease
Getting a lease for the car you want is easy because the lease application process is integrated into SNB Marketplace. There's no need to get a lease elsewhere.
Fill in your personal details
You'll need to provide personal and financial information so we can check your eligibility for the auto lease.
Agree to the lease offer
You'll then be presented a lease offer, which can be modified to fit your requirements. Agree to the offer then proceed to payment.
Pick a payment method
Choose which SNB current account you'd like to charge the initial payment to. The amount will be automatically charged once your lease application is approved.
Pick up your car
You may pick up your car from the nearest showroom.
Is leasing right for me?
Is leasing right for me?
If you do not have the cash on hand or if you would rather use your cash for another investment, leasing a car is a popular option to get the car you want immediately.
The flexibility of monthly installments means you only pay for a small amount each month for up to five years. So you can already drive the car without having to pay a huge amount of money upfront.
For example, instead of paying SAR 50,000 for a car to own it, you can simply pay SAR 10,000 then pay for the rest (plus our fees) over 60 equal monthly installments - which could be as little as SAR 500 per month.
Know your leasing terms
It helps to be familiar with some of the banking terms used when leasing your car.
Down paymentThis is the amount required at the beginning of the lease. Your initial payment consists of the down payment plus other fees.
Balloon paymentThis is the amount to be paid at the end of the lease. After paying this amount, ownership of the car will be transferred to your name.
Lease durationThis is the number of years you will be required to pay monthly installments.
EMIThis stands for Equated Monthly Installments. This is the amount that you will be paying every month for the full duration of your lease.
APRThis stands for annual percentage rate, which is dependent on profit rate, lease tenor and car price.
SIMAHSIMAH is the official credit bureau of Saudi Arabia that will check your credit history to make sure you are eligible for a lease. All lease applications are checked by SIMAH.
Let’s do the math
Our lease calculators will help you determine the monthly payment based on the car price, lease duration, down payment and balloon payment.
You can also get a more accurate estimate using ourAdvanced lease calculator