What is the car loan process for purchasing a Genesis GV70 2022 3.5T Royal (AWD) in UAE?

The car loan process typically involves applying through a bank or financial institution, submitting necessary documents, getting pre-approved, and finally signing the loan agreement after the vehicle purchase.

Will taking a car loan for the Genesis GV70 affect my credit score?

Yes, taking a car loan can impact your credit score, especially if you make timely payments, which can improve your score, or if you miss payments, which can decrease it.

What should I be aware of when applying for a loan for the Genesis GV70 in UAE?

You should be aware of the interest rates, loan terms, any additional fees, and ensure you have a stable income to support loan repayments.

What factors can influence the interest rate of my car loan in UAE?

Factors influencing the interest rate include your credit score, the loan amount, the loan term, and the current economic conditions in the UAE.

What documents do I need to apply for a car loan for the Genesis GV70?

You will typically need your ID, proof of income, bank statements, employment letter, and details of the vehicle you wish to purchase.

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Genesis GV70 2022 3.5T Royal (AWD) Car Loan Calculator in UAE

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

Monthly Payment

AED 13,479

Down Payment

AED 40,000

Total Cost

AED 201,748

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 13,479	AED 148,269
2	AED 13,479	AED 134,790
3	AED 13,479	AED 121,311
4	AED 13,479	AED 107,832
5	AED 13,479	AED 94,353
6	AED 13,479	AED 80,874
7	AED 13,479	AED 67,395
8	AED 13,479	AED 53,916
9	AED 13,479	AED 40,437
10	AED 13,479	AED 26,958
11	AED 13,479	AED 13,479
12	AED 13,479	AED 0

Monthly Payment Composition

Interest: 146

Principal: 13333

Genesis GV70 2022 3.5T Royal (AWD) Car Loan Calculator FAQs in UAE

The car loan process typically involves applying through a bank or financial institution, submitting necessary documents, getting pre-approved, and finally signing the loan agreement after the vehicle purchase.
Yes, taking a car loan can impact your credit score, especially if you make timely payments, which can improve your score, or if you miss payments, which can decrease it.
You should be aware of the interest rates, loan terms, any additional fees, and ensure you have a stable income to support loan repayments.
Factors influencing the interest rate include your credit score, the loan amount, the loan term, and the current economic conditions in the UAE.
You will typically need your ID, proof of income, bank statements, employment letter, and details of the vehicle you wish to purchase.