What is the car loan process for purchasing a Picanto 1.2L EX in UAE?

The car loan process typically involves selecting a lender, submitting necessary documents, and completing an application form. Once approved, you will receive the loan amount to purchase the Picanto 1.2L EX.

How does taking a loan for a Picanto 1.2L EX affect my credit score?

Taking a loan can impact your credit score positively if you make timely payments, but missing payments can hurt your score. Lenders may check your credit history when you apply.

What factors should I consider before applying for a car loan for a Picanto 1.2L EX?

Consider your budget, interest rates, loan terms, your credit score, and any additional fees before applying for a loan.

What are the typical interest rates for a car loan in UAE for a Picanto 1.2L EX?

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

Are there any hidden fees associated with car loans in UAE?

Yes, there may be hidden fees such as processing fees, insurance costs, or early repayment penalties. Always read the loan agreement carefully.

CarteaCar Loan Calculator

Picanto 1.2L EX Car Loan Calculator in UAE

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

Monthly Payment

AED 3,505

Down Payment

AED 10,400

Total Cost

AED 52,460

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 3,505	AED 38,555
2	AED 3,505	AED 35,050
3	AED 3,505	AED 31,545
4	AED 3,505	AED 28,040
5	AED 3,505	AED 24,535
6	AED 3,505	AED 21,030
7	AED 3,505	AED 17,525
8	AED 3,505	AED 14,020
9	AED 3,505	AED 10,515
10	AED 3,505	AED 7,010
11	AED 3,505	AED 3,505
12	AED 3,505	AED 0

Monthly Payment Composition

Interest: 39

Principal: 3466

Picanto 1.2L EX Car Loan Calculator FAQs in UAE

The car loan process typically involves selecting a lender, submitting necessary documents, and completing an application form. Once approved, you will receive the loan amount to purchase the Picanto 1.2L EX.
Taking a loan can impact your credit score positively if you make timely payments, but missing payments can hurt your score. Lenders may check your credit history when you apply.
Consider your budget, interest rates, loan terms, your credit score, and any additional fees before applying for a loan.
Interest rates for car loans in UAE can vary but typically range from 3% to 6%, depending on the lender and your credit profile.
Yes, there may be hidden fees such as processing fees, insurance costs, or early repayment penalties. Always read the loan agreement carefully.