What is the car loan process for purchasing a Patro LE Platinum City 5.6L in the UAE?

The car loan process typically involves applying for a loan from a bank or financial institution, providing necessary documentation, and then waiting for approval. After approval, you will make monthly payments over the agreed loan term.

Will taking a loan for the Patro LE Platinum City 5.6L affect my credit score?

Yes, taking a loan can impact your credit score. If you make timely payments, it can improve your score, but missed payments can lower it significantly.

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

Consider your credit score, the interest rate, loan term, down payment amount, and whether the loan is secured or unsecured.

What are common interest rates for car loans in the UAE?

Interest rates for car loans in the UAE can vary widely, typically ranging from 3% to 6% depending on the lender and your credit profile.

What documents are required to apply for a car loan in the UAE?

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

CarteaCar Loan Calculator

Patro LE Platinum City 5.6L Car Loan Calculator in UAE

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

Monthly Payment

AED 23,385

Down Payment

AED 69,400

Total Cost

AED 350,020

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 23,385	AED 257,235
2	AED 23,385	AED 233,850
3	AED 23,385	AED 210,465
4	AED 23,385	AED 187,080
5	AED 23,385	AED 163,695
6	AED 23,385	AED 140,310
7	AED 23,385	AED 116,925
8	AED 23,385	AED 93,540
9	AED 23,385	AED 70,155
10	AED 23,385	AED 46,770
11	AED 23,385	AED 23,385
12	AED 23,385	AED 0

Monthly Payment Composition

Interest: 252

Principal: 23133

Patro LE Platinum City 5.6L Car Loan Calculator FAQs in UAE

The car loan process typically involves applying for a loan from a bank or financial institution, providing necessary documentation, and then waiting for approval. After approval, you will make monthly payments over the agreed loan term.
Yes, taking a loan can impact your credit score. If you make timely payments, it can improve your score, but missed payments can lower it significantly.
Consider your credit score, the interest rate, loan term, down payment amount, and whether the loan is secured or unsecured.
Interest rates for car loans in the UAE can vary widely, typically ranging from 3% to 6% depending on the lender and your credit profile.
You will typically need your Emirates ID, salary certificate, bank statements, and proof of residence to apply for a car loan.