What is the car loan process for purchasing a Sorento 3.5L Mid (AWD) in UAE?

The car loan process typically involves selecting the vehicle, submitting a loan application, providing required documentation, and obtaining approval from the bank. After approval, you can finalize the purchase.

Will taking a car loan for a Sorento 3.5L Mid (AWD) affect my credit score?

Yes, taking a car loan can affect your credit score. Timely payments can improve your score, while missed payments can lower it.

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

Consider your credit history, loan amount, interest rates, repayment terms, and the total cost of the vehicle including insurance and registration.

What are the common interest rates for car loans on a Sorento 3.5L Mid (AWD) in UAE?

Interest rates for car loans in UAE can vary between 2% to 5% depending on the bank and your credit profile.

What documents are required to apply for a car loan for a Sorento 3.5L Mid (AWD)?

You will typically need to provide identification, proof of income, bank statements, and information about the vehicle you intend to purchase.

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Sorento 3.5L Mid (AWD) Car Loan Calculator in UAE

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

Calculation Of Loans

Total Car PriceAED 154,500

Down PaymentAED 30,900

Monthly PaymentAED 10,412
Total CostAED 155,844
Loan Period12 Month

Car Loan Monthly Installments Schedule

Payment Schedule	Monthly Payment	Remaining Amount
1	AED 10,412	AED 114,532
2	AED 10,412	AED 104,120
3	AED 10,412	AED 93,708
4	AED 10,412	AED 83,296
5	AED 10,412	AED 72,884
6	AED 10,412	AED 62,472
7	AED 10,412	AED 52,060
8	AED 10,412	AED 41,648
9	AED 10,412	AED 31,236
10	AED 10,412	AED 20,824
11	AED 10,412	AED 10,412
12	AED 10,412	AED 0

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Sorento 3.5L Mid (AWD) Car Loan Calculator FAQs in UAE

The car loan process typically involves selecting the vehicle, submitting a loan application, providing required documentation, and obtaining approval from the bank. After approval, you can finalize the purchase.
Yes, taking a car loan can affect your credit score. Timely payments can improve your score, while missed payments can lower it.
Consider your credit history, loan amount, interest rates, repayment terms, and the total cost of the vehicle including insurance and registration.
Interest rates for car loans in UAE can vary between 2% to 5% depending on the bank and your credit profile.
You will typically need to provide identification, proof of income, bank statements, and information about the vehicle you intend to purchase.