What is the loan process for purchasing a Cerato 1.6L SX in UAE?

The loan process typically involves applying for a loan through a bank or financial institution, submitting required documents, and waiting for approval. Once approved, you can finalize your car purchase.

Will taking a loan for a Cerato 1.6L SX affect my credit score?

Yes, taking a loan can impact your credit score. Successfully repaying the loan can improve your score, while missed payments can lower it.

What factors can affect the interest rate of a car loan in UAE?

Factors include your credit score, income level, the loan amount, and the type of vehicle being financed.

What documents are required for applying for a car loan for Cerato 1.6L SX?

Typically, you will need your Emirates ID, proof of income, bank statements, and details of the vehicle you wish to purchase.

Are there any hidden fees associated with car loans in UAE?

Yes, some banks may charge processing fees, insurance fees, and other administrative costs. It’s important to read the loan agreement carefully.

CarteaCar Loan Calculator

Cerato 1.6L SX Car Loan Calculator in UAE

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

Monthly Payment

AED 4,570

Down Payment

AED 13,560

Total Cost

AED 68,400

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 4,570	AED 50,270
2	AED 4,570	AED 45,700
3	AED 4,570	AED 41,130
4	AED 4,570	AED 36,560
5	AED 4,570	AED 31,990
6	AED 4,570	AED 27,420
7	AED 4,570	AED 22,850
8	AED 4,570	AED 18,280
9	AED 4,570	AED 13,710
10	AED 4,570	AED 9,140
11	AED 4,570	AED 4,570
12	AED 4,570	AED 0

Monthly Payment Composition

Interest: 50

Principal: 4520

Cerato 1.6L SX Car Loan Calculator FAQs in UAE

The loan process typically involves applying for a loan through a bank or financial institution, submitting required documents, and waiting for approval. Once approved, you can finalize your car purchase.
Yes, taking a loan can impact your credit score. Successfully repaying the loan can improve your score, while missed payments can lower it.
Factors include your credit score, income level, the loan amount, and the type of vehicle being financed.
Typically, you will need your Emirates ID, proof of income, bank statements, and details of the vehicle you wish to purchase.
Yes, some banks may charge processing fees, insurance fees, and other administrative costs. It’s important to read the loan agreement carefully.