What is the car loan process for purchasing an Odyssey 3.5L EXL in the UAE?

The car loan process typically involves selecting a lender, submitting an application, providing necessary documentation, and awaiting approval before finalizing the purchase.

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

Yes, taking a car loan can affect your credit score as it involves a credit inquiry, and timely repayments can improve your score while missed payments can harm it.

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

Consider factors such as interest rates, loan terms, your monthly budget, and any additional fees associated with the loan.

How does the loan interest rate affect my monthly payments for the Odyssey 3.5L EXL?

A higher interest rate will increase your monthly payments, while a lower rate will decrease them, so it's important to shop around for the best rates.

What documents do I need to provide when applying for a car loan in the UAE?

Typically, you will need to provide proof of income, identification documents, residency proof, and information about the vehicle.

CarteaCar Loan Calculator

Odyssey 3.5L EXL Car Loan Calculator in UAE

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

Monthly Payment

AED 11,518

Down Payment

AED 34,180

Total Cost

AED 172,396

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 11,518	AED 126,698
2	AED 11,518	AED 115,180
3	AED 11,518	AED 103,662
4	AED 11,518	AED 92,144
5	AED 11,518	AED 80,626
6	AED 11,518	AED 69,108
7	AED 11,518	AED 57,590
8	AED 11,518	AED 46,072
9	AED 11,518	AED 34,554
10	AED 11,518	AED 23,036
11	AED 11,518	AED 11,518
12	AED 11,518	AED 0

Monthly Payment Composition

Interest: 125

Principal: 11393

Odyssey 3.5L EXL Car Loan Calculator FAQs in UAE

The car loan process typically involves selecting a lender, submitting an application, providing necessary documentation, and awaiting approval before finalizing the purchase.
Yes, taking a car loan can affect your credit score as it involves a credit inquiry, and timely repayments can improve your score while missed payments can harm it.
Consider factors such as interest rates, loan terms, your monthly budget, and any additional fees associated with the loan.
A higher interest rate will increase your monthly payments, while a lower rate will decrease them, so it's important to shop around for the best rates.
Typically, you will need to provide proof of income, identification documents, residency proof, and information about the vehicle.