What is the process for applying for a car loan for the Genesis GV80 2022 3.5T Royal (AWD) in the UAE?

You need to gather necessary documents such as proof of income, residency, and identification, then approach a bank or financial institution to start the application process.

Will taking out a loan for the Genesis GV80 affect my credit score?

Yes, taking out a loan can affect your credit score. It may lower your score temporarily due to the hard inquiry, but timely payments can improve it over time.

What factors should I consider before taking a loan for the Genesis GV80?

Consider the interest rate, loan term, monthly payments, total cost of the vehicle, and your financial situation before committing to a loan.

What are the typical interest rates for car loans in the UAE for vehicles like the Genesis GV80?

Interest rates for car loans in the UAE typically range from 3% to 6%, but they can vary based on the bank and your credit profile.

What documentation is needed to apply for a car loan for the Genesis GV80?

You will need your Emirates ID, salary certificate, bank statements, and proof of residence to apply for the car loan.

CarteaCar Loan Calculator

Genesis GV80 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 20,218

Down Payment

AED 60,000

Total Cost

AED 302,616

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 20,218	AED 222,398
2	AED 20,218	AED 202,180
3	AED 20,218	AED 181,962
4	AED 20,218	AED 161,744
5	AED 20,218	AED 141,526
6	AED 20,218	AED 121,308
7	AED 20,218	AED 101,090
8	AED 20,218	AED 80,872
9	AED 20,218	AED 60,654
10	AED 20,218	AED 40,436
11	AED 20,218	AED 20,218
12	AED 20,218	AED 0

Monthly Payment Composition

Interest: 218

Principal: 20000

Genesis GV80 2022 3.5T Royal (AWD) Car Loan Calculator FAQs in UAE

You need to gather necessary documents such as proof of income, residency, and identification, then approach a bank or financial institution to start the application process.
Yes, taking out a loan can affect your credit score. It may lower your score temporarily due to the hard inquiry, but timely payments can improve it over time.
Consider the interest rate, loan term, monthly payments, total cost of the vehicle, and your financial situation before committing to a loan.
Interest rates for car loans in the UAE typically range from 3% to 6%, but they can vary based on the bank and your credit profile.
You will need your Emirates ID, salary certificate, bank statements, and proof of residence to apply for the car loan.