What are the requirements to apply for a car loan for the Renault Master 2020 2.3T Panel Van in UAE?

To apply for a car loan, you typically need to provide proof of income, Emirates ID, residency visa, and details about the vehicle you wish to purchase.

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

Taking a car loan can affect your credit score positively if you make timely payments. However, missing payments can negatively impact your score.

What should I consider before applying for a car loan?

Consider your budget, interest rates, loan terms, and your ability to make monthly payments before applying for a car loan.

What factors can affect the interest rate on my car loan?

Factors include your credit score, the loan amount, the duration of the loan, and the lender's policies.

How can I improve my chances of getting approved for a car loan?

Improve your credit score, reduce existing debt, and ensure you have a stable income before applying for a car loan.

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Renault Master 2020 2.3T Panel Van (L4H3) Car Loan Calculator in UAE

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

Monthly Payment

AED 6,133

Down Payment

AED 18,200

Total Cost

AED 91,796

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 6,133	AED 67,463
2	AED 6,133	AED 61,330
3	AED 6,133	AED 55,197
4	AED 6,133	AED 49,064
5	AED 6,133	AED 42,931
6	AED 6,133	AED 36,798
7	AED 6,133	AED 30,665
8	AED 6,133	AED 24,532
9	AED 6,133	AED 18,399
10	AED 6,133	AED 12,266
11	AED 6,133	AED 6,133
12	AED 6,133	AED 0

Monthly Payment Composition

Interest: 67

Principal: 6066

Renault Master 2020 2.3T Panel Van (L4H3) Car Loan Calculator FAQs in UAE

To apply for a car loan, you typically need to provide proof of income, Emirates ID, residency visa, and details about the vehicle you wish to purchase.
Taking a car loan can affect your credit score positively if you make timely payments. However, missing payments can negatively impact your score.
Consider your budget, interest rates, loan terms, and your ability to make monthly payments before applying for a car loan.
Factors include your credit score, the loan amount, the duration of the loan, and the lender's policies.
Improve your credit score, reduce existing debt, and ensure you have a stable income before applying for a car loan.