Ministry issues new rules for car dealerships selling vehicles on installments

Published: 27 November 2024

Companies must obtain Qatar Credit Bureau report about customers
and also ask for salary certificates

NT Bureau
Doha

The Ministry of Commerce and Industry has announced new regulations for car dealerships offering vehicles on installment plans.

The Ministry issued Circular No. (4) of 2024 introducing stricter requirements for companies to follow before granting financial facilities for their customers.

The Ministry said that to provide installment-based car sales, dealerships are now required to obtain a credit report from the Qatar Credit Bureau to assess the customer’s financial standing.

Secondly, companies must request a salary certificate from the customer’s employer, detailing the total basic salary and any applicable social allowances.

Third, car companies offering vehicles on installments must obtain a debt certificate from the customer’s bank.

The Ministry said that dealerships must adhere to these requirements within one month of the circular’s release. Additionally, companies offering installment plans must become members of the Qatar Credit Bureau to access customer credit reports.

The circular also mandates that all car sales outlets display clear advertisements, coordinated with the Bureau, to inform customers about these new services and how to access them.