What is the car loan process for purchasing a Carens 1.5L Diesel A/T in the UAE?

The car loan process typically involves selecting a lender, submitting an application, providing necessary documents, and receiving approval before finalizing the purchase.

Will taking a loan for a Carens 1.5L Diesel A/T affect my credit score?

Yes, taking a loan can affect your credit score as it involves a hard inquiry and adds to your debt-to-income ratio.

What should I be aware of before applying for a car loan in the UAE?

Before applying, you should check your credit score, compare interest rates from different banks, and understand the total cost of the loan including fees.

What factors can influence the interest rate on my car loan for a Carens 1.5L Diesel A/T?

Factors include your credit score, the loan amount, the loan term, and the overall economic conditions in the UAE.

What documents do I need to provide to secure a car loan for Carens 1.5L Diesel A/T?

You typically need to provide proof of identity, proof of income, bank statements, and details of the vehicle you intend to purchase.

CarteaCar Loan Calculator

Carens 1.5L Diesel A/T Car Loan Calculator in UAE

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

Monthly Payment

AED 5,055

Down Payment

AED 15,000

Total Cost

AED 75,660

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 5,055	AED 55,605
2	AED 5,055	AED 50,550
3	AED 5,055	AED 45,495
4	AED 5,055	AED 40,440
5	AED 5,055	AED 35,385
6	AED 5,055	AED 30,330
7	AED 5,055	AED 25,275
8	AED 5,055	AED 20,220
9	AED 5,055	AED 15,165
10	AED 5,055	AED 10,110
11	AED 5,055	AED 5,055
12	AED 5,055	AED 0

Monthly Payment Composition

Interest: 55

Principal: 5000

Carens 1.5L Diesel A/T Car Loan Calculator FAQs in UAE

The car loan process typically involves selecting a lender, submitting an application, providing necessary documents, and receiving approval before finalizing the purchase.
Yes, taking a loan can affect your credit score as it involves a hard inquiry and adds to your debt-to-income ratio.
Before applying, you should check your credit score, compare interest rates from different banks, and understand the total cost of the loan including fees.
Factors include your credit score, the loan amount, the loan term, and the overall economic conditions in the UAE.
You typically need to provide proof of identity, proof of income, bank statements, and details of the vehicle you intend to purchase.