What is the loan process for purchasing an RX5 1.5T STD in the UAE?

The loan process typically involves submitting your application, providing necessary documents like ID, proof of income, and credit history, followed by loan approval and signing the agreement.

Will applying for a car loan affect my credit score?

Yes, applying for a car loan can temporarily lower your credit score due to the hard inquiry made by lenders.

What should I consider before taking a car loan?

Consider the loan terms, interest rates, your budget for monthly payments, and whether you can afford the total cost of the vehicle including insurance and maintenance.

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

Factors include your credit score, the loan amount, the length of the loan, and current market rates.

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

Yes, some lenders may charge processing fees, early repayment fees, or insurance fees. It's essential to review the loan agreement carefully.

CarteaCar Loan Calculator

RX5 1.5T STD Car Loan Calculator in UAE

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

Monthly Payment

AED 5,554

Down Payment

AED 16,480

Total Cost

AED 83,128

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 5,554	AED 61,094
2	AED 5,554	AED 55,540
3	AED 5,554	AED 49,986
4	AED 5,554	AED 44,432
5	AED 5,554	AED 38,878
6	AED 5,554	AED 33,324
7	AED 5,554	AED 27,770
8	AED 5,554	AED 22,216
9	AED 5,554	AED 16,662
10	AED 5,554	AED 11,108
11	AED 5,554	AED 5,554
12	AED 5,554	AED 0

Monthly Payment Composition

Interest: 61

Principal: 5493

RX5 1.5T STD Car Loan Calculator FAQs in UAE

The loan process typically involves submitting your application, providing necessary documents like ID, proof of income, and credit history, followed by loan approval and signing the agreement.
Yes, applying for a car loan can temporarily lower your credit score due to the hard inquiry made by lenders.
Consider the loan terms, interest rates, your budget for monthly payments, and whether you can afford the total cost of the vehicle including insurance and maintenance.
Factors include your credit score, the loan amount, the length of the loan, and current market rates.
Yes, some lenders may charge processing fees, early repayment fees, or insurance fees. It's essential to review the loan agreement carefully.