What is the car loan process for purchasing an HRV 1.5L i-VTEC DX in UAE?

The car loan process generally involves selecting the vehicle, applying for a loan with a bank or financial institution, providing necessary documents, and then finalizing the loan agreement after approval.

Will taking a car loan affect my credit score in UAE?

Yes, taking a car loan can affect your credit score positively or negatively depending on your repayment behavior. Timely payments can improve your score, while missed payments can harm it.

What should I consider before applying for a car loan for an HRV 1.5L i-VTEC DX?

Consider your budget, the interest rates offered by different banks, the loan tenure, and your ability to make monthly payments. Also, check for any hidden fees.

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

Factors include your credit score, the loan amount, the loan duration, and the current market conditions. Lower credit scores may lead to higher interest rates.

How much down payment is typically required for a car loan in UAE?

Typically, a down payment of 20% to 30% of the vehicle's price is required, but this can vary by lender and your financial profile.

CarteaCar Loan Calculator

HRV 1.5L i-VTEC DX Car Loan Calculator in UAE

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

Monthly Payment

AED 6,396

Down Payment

AED 18,980

Total Cost

AED 95,732

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 6,396	AED 70,356
2	AED 6,396	AED 63,960
3	AED 6,396	AED 57,564
4	AED 6,396	AED 51,168
5	AED 6,396	AED 44,772
6	AED 6,396	AED 38,376
7	AED 6,396	AED 31,980
8	AED 6,396	AED 25,584
9	AED 6,396	AED 19,188
10	AED 6,396	AED 12,792
11	AED 6,396	AED 6,396
12	AED 6,396	AED 0

Monthly Payment Composition

Interest: 70

Principal: 6326

HRV 1.5L i-VTEC DX Car Loan Calculator FAQs in UAE

The car loan process generally involves selecting the vehicle, applying for a loan with a bank or financial institution, providing necessary documents, and then finalizing the loan agreement after approval.
Yes, taking a car loan can affect your credit score positively or negatively depending on your repayment behavior. Timely payments can improve your score, while missed payments can harm it.
Consider your budget, the interest rates offered by different banks, the loan tenure, and your ability to make monthly payments. Also, check for any hidden fees.
Factors include your credit score, the loan amount, the loan duration, and the current market conditions. Lower credit scores may lead to higher interest rates.
Typically, a down payment of 20% to 30% of the vehicle's price is required, but this can vary by lender and your financial profile.