New Auto Finance Initiative Aims to Simplify Car Ownership in Iran
A new automotive financing scheme is making waves by offering a streamlined path to vehicle ownership, highlighting efforts to modernize consumer access within the national economy.
A Simplified Purchase Process
In a significant shift from traditional, complex leasing procedures, the “Hamrah Mechanic” platform has launched a special installment plan for the Fidelity SUV and other popular models. The initiative promises vehicle delivery within 24 to 48 hours, with full legal ownership documents provided to the buyer from the outset. The process is designed to eliminate the need for guarantors, long waiting periods, and cumbersome bureaucratic hurdles.
Key Advantages of the Plan
The scheme is positioned as a more accessible financial product for consumers. Its primary benefits include:
- No Guarantor Required: Removing a major barrier to entry common in other financing plans.
- Low Down Payment: Buyers can finance up to half of the vehicle’s total cost.
- Flexible Repayment: Installment periods can be tailored to the buyer’s financial capability, ranging from 1 to 36 months, with options extending to 60 months in some cases.
- Rapid Credit Assessment: A swift and efficient approval process minimizes administrative involvement for the applicant.
- Immediate Ownership: The vehicle’s title is registered in the buyer’s name immediately upon purchase.
- Grace Period: A two to three-month breather is offered between the down payment and the start of installment payments.
Ensuring Quality and Building Trust
To ensure consumer confidence, all vehicles offered under this plan—both new and used—undergo a comprehensive technical and body inspection. Vehicles over ten years old or those failing the inspection are not admitted into the program. For added assurance, the platform provides an 800 million Toman warranty on its inspection report, and the assessment is repeated in the customer’s presence before finalizing the purchase.
The “Hamrah Mechanic” platform, which collaborates with established leasing companies, reports a customer satisfaction rate of over 80%, underscoring its reputation as a trusted entity in Iran’s automotive market.
This initiative represents a notable step in aligning consumer finance with modern expectations of speed, transparency, and accessibility.