What is the car loan process for purchasing a Soul 1.6L MPI A/T in the UAE?

The car loan process typically involves selecting a bank, submitting your loan application along with required documents, receiving a loan approval, and finalizing the purchase with the dealership.

Will taking a car loan affect my credit score in the UAE?

Yes, taking a car loan will impact your credit score. Timely payments can enhance your score, while missed payments can negatively affect it.

What factors should I consider when applying for a car loan for the Soul 1.6L MPI A/T?

Consider your monthly income, existing debts, the loan interest rate, loan term, and your ability to make timely repayments.

What documents do I need to provide for a car loan application in the UAE?

You typically need to provide your Emirates ID, salary certificate, bank statements, and proof of residence.

What are the common factors that influence car loan interest rates?

Common factors include your credit score, the loan amount, the loan term, and the overall economic conditions.

CarteaCar Loan Calculator

Soul 1.6L MPI A/T Car Loan Calculator in UAE

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

Monthly Payment

AED 5,176

Down Payment

AED 15,360

Total Cost

AED 77,472

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 5,176	AED 56,936
2	AED 5,176	AED 51,760
3	AED 5,176	AED 46,584
4	AED 5,176	AED 41,408
5	AED 5,176	AED 36,232
6	AED 5,176	AED 31,056
7	AED 5,176	AED 25,880
8	AED 5,176	AED 20,704
9	AED 5,176	AED 15,528
10	AED 5,176	AED 10,352
11	AED 5,176	AED 5,176
12	AED 5,176	AED 0

Monthly Payment Composition

Interest: 56

Principal: 5120

Soul 1.6L MPI A/T Car Loan Calculator FAQs in UAE

The car loan process typically involves selecting a bank, submitting your loan application along with required documents, receiving a loan approval, and finalizing the purchase with the dealership.
Yes, taking a car loan will impact your credit score. Timely payments can enhance your score, while missed payments can negatively affect it.
Consider your monthly income, existing debts, the loan interest rate, loan term, and your ability to make timely repayments.
You typically need to provide your Emirates ID, salary certificate, bank statements, and proof of residence.
Common factors include your credit score, the loan amount, the loan term, and the overall economic conditions.