Automobile

A Brand-New Car Without Breaking the Bank: Interview with Almog Saadon, CEO and Owner of Capital Motors Ltd.

best time to buy a car in israel

Buying a Car in Israel with Capital Motors

Almog Saadon’s vision, as the CEO and owner of Capital Motors, Ltd., is to make it possible for anyone to afford a brand-new car.

Capital Motors began as a private importer for luxury vehicles. Over the years, they developed connections with more and more of the top importers and banks in Israel, eventually becoming one of the leading car agencies in the country with more than 15 years of experience and over 10,000 satisfied customers served. With 35 employees, five branches (Bnei Brak, Netanya, Afula, Petach Tikva, Beit Shemesh) and two more on the way (Jerusalem and Beer Sheva), Capital Motors leads the industry in technological innovation and unmatched customer experience. They offer a full range of services for customers purchasing a vehicle, including sales, imports, insurance, finances, trade-ins, and leasing. Their CapitaLease program offers a unique opportunity to purchase a car through financing only—that is, without a down payment, allowing customers to choose what to drive and how much to pay for it each month.

Almog Saadon’s professional background and expertise in digital technology was critical to Capital Motors’ rise to success, thanks to the advanced management system he developed over the years.

Why is it better to get a brand-new car than a lightly used one?

First of all, the newer a car is, the safer it is. Cars are constantly being updated with better technologies to keep drivers and passengers as safe as possible. A new car is not going to break down all the sudden and leave you in a lurch. Second of all, as of 2016, the Ministry of Transportation gave an attractive incentive: when you buy a brand-new car, you can skip the annual test for the first three years. Who doesn’t want to put off the headache of the annual test as long as possible?! Third of all, when you have an older car, you’re going to spend more per month, both on maintenance and on gas. Newer cars are more fuel-efficient.

At the end of the day, though, it’s really a question of personal preference. If all you want is something that’ll get you from point A to point B, you might find a used car to be perfectly acceptable. But there’s nothing quite like driving a brand-new car, and I believe that experience shouldn’t be exclusive to rich people. Capital Motors aims to make it accessible to anyone.

What’s the advantage of purchasing a car through financing rather than leasing?

First, we offer up to 100% financing, which means you don’t need a down payment. Not everyone has the cash to put down for a new car, but at Capital Motors, we believe that shouldn’t mean you can’t have one. Our unique financing methods tailor the plan to each customer, taking their needs, budget, and other factors into account.

Second, leasing is different from purchasing. When you lease a car, it still belongs to the company, and you’re basically renting it from them. That means the monthly payments will be higher and you will be more limited in your use of the car: a maximum driving distance, insurance policies, etc. When you purchase a car, through whatever method—our finance-only method included—the car is listed as yours from day one. You’re the boss. That makes it a much more attractive option for private customers.

Are there any prerequisites or conditions to qualify for this financing program?

Anyone over the age of 18, with a steady income and residency in Israel, is eligible for the financing program.

This sounds too good to be true. What’s the small print?

I strongly believe in transparency. There’s no small print, no hidden fees, no tricks. If you wish, at any point, to exit the deal, you can do so by closing the loan and selling the car.

How often can a customer upgrade his car once he’s purchased one through Capital Motors?

This is one of the advantages of purchasing as opposed to leasing: the car is yours, and you can sell it whenever you like! If you’d like to trade it in through Capital Motors, you are welcome to do so 36 months after your purchase.

Can small business owners purchase a business vehicle from Capital Motors?

Absolutely. We sell commercial vehicles as well as private cars, and business owners can buy a vehicle from us. It’s also possible to list the car privately under the name of the purchaser (rather than the company) and have the receipt written out to the owners of the company for maximum tax benefits. Commercial cars weighing 3.5 tons or more that are certified brand-new are eligible for a complete tax rebate, tax credit of up to 20% per year for value depreciation of the car, and another benefits. (Of course, I’m not an accountant, and you shouldn’t take this as professional advice—be sure to consult your accountant and explain that this would be for a purchase, not a leasing contract.)

Olim chadashim are eligible for special tax benefits on purchasing a new car, too. Can they take advantage of those benefits when purchasing through you?

Of course! We even have a special department just for olim in our Bnei Brak office. You’ll enjoy particularly attractive discounts, help financing a new car, and even help opening a new bank account in Israel.

Speaking of banks, what financing institutions do you work with?

Capital Motors works in close cooperation with most of the banks in Israel to ensure that our clients receive the best possible conditions for buying a car in Israel.

How does one go about purchasing a car through Capital Motors?

One of the things that makes Capital Motors especially convenient is that you can complete the entire purchase process without ever leaving your home. If you prefer to come see the car and speak to us in person, you are welcome to—we have offices in Beit Shemesh, Afula, Bnei Brak and Petach Tikva. But you don’t have to!

First, choose a car from our online catalogue. We offer a huge selection of more than 250 brand-new models from dozens of leading brands, from Honda, Nissan and Toyota to BMW, Mercedes and Porsche. We’ve got something for everyone here. You can browse and filter according to make, model, and price per month.

Once you place your order, we’ll check your financing options according to the criteria you provided, and then one of our representatives will be in touch with you to work out the details and offer you an ideal financing plan. You will then be able to sign the contract digitally using the secure sign-in area on our website.

Next, it’s time to choose your insurance. We are connected with the best insurance companies in Israel, and negotiate attractive insurance plans for all our clients, completely free of charge.

Then it’s pick-up time! You can come get your car from any of our offices, or we can send it straight to your door. We do recommend coming to us, just to make sure everything is in order.

That sounds very convenient; is your website in English?

At the moment it’s in Hebrew, but the catalogue is arranged visually and is easy for people with minimal Hebrew to navigate—and our contract is in English. The site is being translated, but in the meantime, feel free to call us; our representatives speak excellent English.

What makes Capital Motors the best place for Anglos to purchase a new car?

We know how much the Anglo community values good customer service, and we love working with customers who appreciate quality. Our representatives have a lot of experience working with olim, and we offer olim special conditions and benefits that make our service extremely affordable for them. We know that living in Israel can be an adjustment, especially for people who were used to a higher standard of living back in the old country, and cars can be very expensive here. We want to make it possible for Anglos to enjoy the comfort and quality they were used to without breaking the bank or needing to put down a small fortune just to get something decent to drive.

We are an extremely experienced company with over 10,000 happy customers, our service is convenient and accessible, and customer satisfaction is our #1 priority. Our contract is one page in English with no small print—easy to read, easy to fill out. You won’t find another company with conditions similar to ours. We guarantee that if you choose us, you won’t be disappointed.

About the CEO

Almog Saadon is the CEO and owner of Capital Motors Ltd. His expertise in digital technology contributed greatly to the company’s success, thanks to the advanced digital system he developed. It is this cutting-edge technology that has allowed the company to come out ahead of its major competitors in a very complex and challenging industry.

Contact Capital Motors at the following locations:

Beit Shemesh 077-604-8558

Bnei Brak 03-648-5880

Petach Tikva 077-604-9199

Afula 04-857-7432

www.cmotors.co.il

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