What is the car loan process for purchasing a Compass 2.4L Limited (4x4) in the UAE?

The car loan process typically involves selecting a bank or financing institution, submitting an application with required documents, and receiving approval based on your creditworthiness.

Will taking a car loan for the Compass 2.4L Limited (4x4) affect my credit score?

Yes, taking a car loan can affect your credit score positively if you make timely payments, but missed payments can have a negative impact.

What factors should I consider when applying for a car loan for the Compass 2.4L Limited (4x4)?

Consider the interest rate, loan term, monthly payments, down payment, and any additional fees associated with the loan.

What is the average interest rate for a car loan in the UAE for a Compass 2.4L Limited (4x4)?

The average interest rate for a car loan in the UAE can range from 3% to 5%, depending on the bank and your credit profile.

What documents are required to apply for a car loan for the Compass 2.4L Limited (4x4)?

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

CarteaCar Loan Calculator

Compass 2.4L Limited (4x4) Car Loan Calculator in UAE

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

Monthly Payment

AED 7,750

Down Payment

AED 23,000

Total Cost

AED 116,000

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 7,750	AED 85,250
2	AED 7,750	AED 77,500
3	AED 7,750	AED 69,750
4	AED 7,750	AED 62,000
5	AED 7,750	AED 54,250
6	AED 7,750	AED 46,500
7	AED 7,750	AED 38,750
8	AED 7,750	AED 31,000
9	AED 7,750	AED 23,250
10	AED 7,750	AED 15,500
11	AED 7,750	AED 7,750
12	AED 7,750	AED 0

Monthly Payment Composition

Interest: 84

Principal: 7666

Compass 2.4L Limited (4x4) Car Loan Calculator FAQs in UAE

The car loan process typically involves selecting a bank or financing institution, submitting an application with required documents, and receiving approval based on your creditworthiness.
Yes, taking a car loan can affect your credit score positively if you make timely payments, but missed payments can have a negative impact.
Consider the interest rate, loan term, monthly payments, down payment, and any additional fees associated with the loan.
The average interest rate for a car loan in the UAE can range from 3% to 5%, depending on the bank and your credit profile.
Typically, you will need a valid ID, proof of income, bank statements, and details of the vehicle you wish to purchase.