What are the common loan options available for purchasing a Model Y Performance All-Wheel Drive in the UAE?

The common loan options in the UAE include bank loans, dealership financing, and personal loans. Each has different terms, interest rates, and conditions.

How does taking a loan for a Model Y Performance affect my credit score in the UAE?

Taking a loan can impact your credit score positively or negatively, depending on your repayment history. Timely repayments can improve your score, while missed payments can harm it.

What factors should I consider when applying for a car loan in the UAE?

Consider interest rates, loan tenure, down payment requirements, and your overall financial situation. Also, check for any hidden fees or charges.

Are there any specific documents required for applying for a car loan in the UAE?

Yes, common documents include a valid ID, proof of income, bank statements, and a quotation for the vehicle from the dealership.

What are the main factors that influence the interest rates for car loans in the UAE?

Interest rates are influenced by factors such as the central bank's rate, your credit score, the loan amount, and the duration of the loan.

CarteaCar Loan Calculator

Model Y Performance All-Wheel Drive Car Loan Calculator in UAE

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

Monthly Payment

AED 16,511

Down Payment

AED 48,998

Total Cost

AED 247,130

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 16,511	AED 181,621
2	AED 16,511	AED 165,110
3	AED 16,511	AED 148,599
4	AED 16,511	AED 132,088
5	AED 16,511	AED 115,577
6	AED 16,511	AED 99,066
7	AED 16,511	AED 82,555
8	AED 16,511	AED 66,044
9	AED 16,511	AED 49,533
10	AED 16,511	AED 33,022
11	AED 16,511	AED 16,511
12	AED 16,511	AED 0

Monthly Payment Composition

Interest: 179

Principal: 16332

Model Y Performance All-Wheel Drive Car Loan Calculator FAQs in UAE

The common loan options in the UAE include bank loans, dealership financing, and personal loans. Each has different terms, interest rates, and conditions.
Taking a loan can impact your credit score positively or negatively, depending on your repayment history. Timely repayments can improve your score, while missed payments can harm it.
Consider interest rates, loan tenure, down payment requirements, and your overall financial situation. Also, check for any hidden fees or charges.
Yes, common documents include a valid ID, proof of income, bank statements, and a quotation for the vehicle from the dealership.
Interest rates are influenced by factors such as the central bank's rate, your credit score, the loan amount, and the duration of the loan.