What are the eligibility criteria for obtaining a car loan for the BYD Song Plus 2024 1.5L PHEV (FWD) in the UAE?

To be eligible for a car loan in the UAE, you typically need to be at least 21 years old, have a valid residence visa, a stable income, and a good credit history.

How does taking a car loan affect my credit score in the UAE?

Taking a car loan can impact your credit score positively if you make timely payments, but missing payments can negatively affect it.

What documents are required to apply for a car loan for the BYD Song Plus 2024?

You will typically need to provide a copy of your passport, residence visa, salary certificate, bank statements, and sometimes your credit report.

What factors can affect the interest rate on my car loan in the UAE?

Interest rates can be influenced by your credit score, the loan amount, the loan term, and the bank's policies.

Can I pay off my car loan early for the BYD Song Plus 2024, and are there any penalties?

Yes, you can pay off your car loan early, but some banks may charge a prepayment penalty, so it's important to check the loan agreement.

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BYD Song Plus 2024 1.5L PHEV (FWD) Car Loan Calculator in UAE

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

Calculation Of Loans

Total Car PriceAED 118,900

Down PaymentAED 23,780

Monthly PaymentAED 8,013
Total CostAED 119,936
Loan Period12 Month

Car Loan Monthly Installments Schedule

Payment Schedule	Monthly Payment	Remaining Amount
1	AED 8,013	AED 88,143
2	AED 8,013	AED 80,130
3	AED 8,013	AED 72,117
4	AED 8,013	AED 64,104
5	AED 8,013	AED 56,091
6	AED 8,013	AED 48,078
7	AED 8,013	AED 40,065
8	AED 8,013	AED 32,052
9	AED 8,013	AED 24,039
10	AED 8,013	AED 16,026
11	AED 8,013	AED 8,013
12	AED 8,013	AED 0

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BYD Song Plus 2024 1.5L PHEV (FWD) Car Loan Calculator FAQs in UAE

To be eligible for a car loan in the UAE, you typically need to be at least 21 years old, have a valid residence visa, a stable income, and a good credit history.
Taking a car loan can impact your credit score positively if you make timely payments, but missing payments can negatively affect it.
You will typically need to provide a copy of your passport, residence visa, salary certificate, bank statements, and sometimes your credit report.
Interest rates can be influenced by your credit score, the loan amount, the loan term, and the bank's policies.
Yes, you can pay off your car loan early, but some banks may charge a prepayment penalty, so it's important to check the loan agreement.