SAMA car-finance rules: tenor, salary caps and APR

Car loans in Saudi Arabia are consumer financing regulated by the Saudi Central Bank (SAMA). The maximum term is 5 years (60 months) from disbursement — no bank or finance company can legally stretch a car loan longer than that.

Your total monthly credit obligations (all loans plus minimum credit-card payments) may not exceed 33.33% of your gross salary, or 25% of a pension for retirees. Lenders must check this before approving the loan.

Every offer must disclose the APR (annual percentage rate), which includes fees — always compare offers by APR, not by the "flat rate" salesmen quote. A 2.5% flat rate is roughly a 4.7% APR on a 5-year loan.

Official source