Mexico-based digital auto retailer Kavak has joined forces with UAE-based bank Emirates NBD on financing. The initiative, which is called Real Deal, will offer interest rates as low as 1.99%.
Customers can find their desired car on Kavak, before applying for financing with Emirates NBD. If approved, they will be able to pick up their vehicle from Kavak at Dubai Festival Plaza Mall.
The interest rates on offer are 1.99% for loans with a term of 12-24 months, 2.48% for 36 months, 2.72% for 48 months and 2.87% for 60 months.
Kavak operates in Latin America, the GCC (Gulf Cooperation Council) region and Turkey. The company currently has more than 40,000 cars in its inventory.
Emirates NBD (National Bank of Dubai) was founded in 1963 and has 854 branches across the Middle East, Europe and Asia.