What is the car loan process for purchasing a Baleno 1.5L GL in the UAE?

The car loan process typically involves selecting your preferred bank, submitting required documents such as proof of income and identity, and filling out the loan application. After the bank evaluates your creditworthiness, they will provide you with loan options.

Will taking a car loan for the Baleno 1.5L GL affect my credit score?

Yes, taking a car loan can affect your credit score. If you make timely payments, it can improve your score. However, missed payments can negatively impact it.

What factors should I consider when applying for a car loan?

When applying for a car loan, consider your budget, interest rates, the loan term, and any additional fees. It's also important to compare offers from different banks.

What are the current interest rates for car loans in the UAE?

Interest rates for car loans in the UAE can vary between banks and depend on your credit score and loan term. Typically, they range from 3% to 6%.

What documents are needed to apply for a car loan for the Baleno 1.5L GL?

To apply for a car loan, you typically need a copy of your passport, residency visa, Emirates ID, salary certificate, and bank statements.

CarteaCar Loan Calculator

Baleno 1.5L GL Car Loan Calculator in UAE

To finance this car, you can first calculate the installment price in UAE

Monthly Payment

AED 3,842

Down Payment

AED 11,400

Total Cost

AED 57,504

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 3,842	AED 42,262
2	AED 3,842	AED 38,420
3	AED 3,842	AED 34,578
4	AED 3,842	AED 30,736
5	AED 3,842	AED 26,894
6	AED 3,842	AED 23,052
7	AED 3,842	AED 19,210
8	AED 3,842	AED 15,368
9	AED 3,842	AED 11,526
10	AED 3,842	AED 7,684
11	AED 3,842	AED 3,842
12	AED 3,842	AED 0

Monthly Payment Composition

Interest: 42

Principal: 3800

Baleno 1.5L GL Car Loan Calculator FAQs in UAE

The car loan process typically involves selecting your preferred bank, submitting required documents such as proof of income and identity, and filling out the loan application. After the bank evaluates your creditworthiness, they will provide you with loan options.
Yes, taking a car loan can affect your credit score. If you make timely payments, it can improve your score. However, missed payments can negatively impact it.
When applying for a car loan, consider your budget, interest rates, the loan term, and any additional fees. It's also important to compare offers from different banks.
Interest rates for car loans in the UAE can vary between banks and depend on your credit score and loan term. Typically, they range from 3% to 6%.
To apply for a car loan, you typically need a copy of your passport, residency visa, Emirates ID, salary certificate, and bank statements.