Officials from Domasco and Al Jazeera Finance during the agreement signing ceremony.
Doha, Qatar: One of Qatar’s most renowned automotive dealerships, Doha Marketing Services Company WLL (Domasco) has joined forces with a leading financial institution, Al Jazeera Finance (AJF) to redefine the vehicle financing journey for its customers.
This strategic alliance aims to provide customers with unparalleled access to vehicles through excellent financing schemes and zero down-payment options, further solidifying Domasco’s commitment to customer-centric business approach.
The signing ceremony was held at the new Domasco head office, in the presence of business heads from Domasco and Al Jazeera Finance. The agreement will cover two car brands of Domasco: Honda and GAC Motor. Under this financing agreement, Al Jazeera Finance will provide an easy and quick loan approval process to Domasco customers. Customers can benefit from the ability to buy now and pay later, a grace period of three months.
In addition to competitive equated monthly instalment (EMI) options, vehicle financing is available for up to 48 months for expats and up to 72 months for Qataris. Also, customers from government and semi-government companies can benefit from a 0% downpayment while those from private companies can finance their new car with a 10% downpayment. Customers looking to buy a new car have to simply walk into a Honda or GAC Motor showroom, choose their car and meet the Al Jazeera Finance adviser at the showroom itself to get their loan processed.
“The automotive industry has undergone significant changes in recent years, with customer preferences evolving towards more flexible and personalised financing solutions. As a well-known business group since 1965 and being part of the Al Futtaim Automotive group, we are committed to respond to the changing demands and pioneer new initiatives that places customers at the heart of our operations. Our partnership with Al Jazeera Finance helps us deliver ease, convenience and a swift, streamlined financing process for every customer,” commented Marco Melani, Domasco Regional Managing Director.
Al Jazeera Finance Acting Chief Business Officer, Mohamed Shafie added: “The agreement with Domasco represents another significant step towards building effective and long-term relationships with partners.
The aim is to enhance integration between financial institutions and car agencies, ultimately increasing the value provided to retail customers with a set of exclusive advantages.”
Domasco has recently opened a new easily accessible 3S (sales, service, spare parts) facility for Honda and GAC Motor in the Industrial Area providing a one stop shop for its customers from buying a new car, servicing it, to even purchasing spare parts when needed.
Al Jazeera Finance has been a pioneer of Shariah financing in Qatar and has been a forerunner in this sector since its establishment in 1989. Over the years, it has evolved to become one of the leading financial institutions in the country, providing innovative solutions and services for credit intermediation. AJF will soon introduce their new app, which allows customers to apply, track, pay, and request financial services conveniently.
