What are the eligibility requirements for a car loan for a Mustang GT 5.0L in the UAE?

Typically, you need to be at least 21 years old, have a stable income, and provide documentation such as your Emirates ID, salary certificate, and bank statements.

How does taking a car loan affect my credit score in the UAE?

Taking a car loan can impact your credit score positively if you make timely payments. However, late payments or defaulting can hurt your credit score.

What factors should I consider when applying for a car loan for a Mustang GT?

Consider the interest rate, loan term, monthly payments, and any additional fees or insurance that may be required.

What is the typical loan-to-value ratio for a Mustang GT in the UAE?

Typically, banks in the UAE offer a loan-to-value ratio of up to 80% for new cars, meaning you would need to pay at least 20% as a down payment.

What documents are required to apply for a car loan for a Mustang GT?

You will generally need to provide your Emirates ID, a salary certificate, proof of residence, and bank statements for the last three months.

CarteaCar Loan Calculator

Mustang GT 5.0L (486 HP) Convertible M/T Car Loan Calculator in UAE

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

Monthly Payment

AED 17,185

Down Payment

AED 51,000

Total Cost

AED 257,220

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 17,185	AED 189,035
2	AED 17,185	AED 171,850
3	AED 17,185	AED 154,665
4	AED 17,185	AED 137,480
5	AED 17,185	AED 120,295
6	AED 17,185	AED 103,110
7	AED 17,185	AED 85,925
8	AED 17,185	AED 68,740
9	AED 17,185	AED 51,555
10	AED 17,185	AED 34,370
11	AED 17,185	AED 17,185
12	AED 17,185	AED 0

Monthly Payment Composition

Interest: 185

Principal: 17000

Mustang GT 5.0L (486 HP) Convertible M/T Car Loan Calculator FAQs in UAE

Typically, you need to be at least 21 years old, have a stable income, and provide documentation such as your Emirates ID, salary certificate, and bank statements.
Taking a car loan can impact your credit score positively if you make timely payments. However, late payments or defaulting can hurt your credit score.
Consider the interest rate, loan term, monthly payments, and any additional fees or insurance that may be required.
Typically, banks in the UAE offer a loan-to-value ratio of up to 80% for new cars, meaning you would need to pay at least 20% as a down payment.
You will generally need to provide your Emirates ID, a salary certificate, proof of residence, and bank statements for the last three months.