What is the process for obtaining a car loan for the City LX Sport 1.5L in the UAE?

The process typically involves choosing a lender, submitting necessary documents such as proof of income and residency, filling out a loan application, and awaiting approval.

Will taking a car loan for the City LX Sport 1.5L affect my credit score?

Yes, taking a car loan can affect your credit score. Timely payments can improve it, while missed payments can harm it.

What factors should I consider when applying for a car loan for the City LX Sport 1.5L?

Consider the interest rate, loan term, your monthly budget, the total cost of the car, and any additional fees.

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

Interest rates for car loans in the UAE typically range from 3% to 6%, depending on the lender and your credit profile.

What documents are required to apply for a car loan for the City LX Sport 1.5L?

You will typically need your Emirates ID, proof of income (salary certificates), bank statements, and a copy of the vehicle's registration.

CarteaCar Loan Calculator

City LX Sport 1.5L Car Loan Calculator in UAE

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

Monthly Payment

AED 5,115

Down Payment

AED 15,180

Total Cost

AED 76,560

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 5,115	AED 56,265
2	AED 5,115	AED 51,150
3	AED 5,115	AED 46,035
4	AED 5,115	AED 40,920
5	AED 5,115	AED 35,805
6	AED 5,115	AED 30,690
7	AED 5,115	AED 25,575
8	AED 5,115	AED 20,460
9	AED 5,115	AED 15,345
10	AED 5,115	AED 10,230
11	AED 5,115	AED 5,115
12	AED 5,115	AED 0

Monthly Payment Composition

Interest: 55

Principal: 5060

City LX Sport 1.5L Car Loan Calculator FAQs in UAE

The process typically involves choosing a lender, submitting necessary documents such as proof of income and residency, filling out a loan application, and awaiting approval.
Yes, taking a car loan can affect your credit score. Timely payments can improve it, while missed payments can harm it.
Consider the interest rate, loan term, your monthly budget, the total cost of the car, and any additional fees.
Interest rates for car loans in the UAE typically range from 3% to 6%, depending on the lender and your credit profile.
You will typically need your Emirates ID, proof of income (salary certificates), bank statements, and a copy of the vehicle's registration.