What is the car loan process for purchasing a Taurus 2.0L EcoBoost Ambient in the UAE?

The car loan process typically involves selecting the vehicle, submitting a loan application, providing necessary documents such as proof of income and identification, and then waiting for the bank's approval.

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

Yes, taking out a car loan can impact your credit score. Timely payments can improve it, while missed payments can harm it.

What should I pay attention to when applying for a car loan in the UAE?

You should pay attention to the interest rates, loan terms, any hidden fees, and the total cost of the loan over its duration.

What factors can affect the interest rate of my car loan in the UAE?

Factors that can affect the interest rate include your credit score, the loan amount, the loan term, and the bank's current policies.

What documents are required to apply for a car loan in the UAE?

Common documents required include your Emirates ID, salary certificate, bank statements, and proof of residency.

CarteaCar Loan Calculator

Taurus 2.0L EcoBoost Ambient Car Loan Calculator in UAE

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

Monthly Payment

AED 7,414

Down Payment

AED 22,000

Total Cost

AED 110,968

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 7,414	AED 81,554
2	AED 7,414	AED 74,140
3	AED 7,414	AED 66,726
4	AED 7,414	AED 59,312
5	AED 7,414	AED 51,898
6	AED 7,414	AED 44,484
7	AED 7,414	AED 37,070
8	AED 7,414	AED 29,656
9	AED 7,414	AED 22,242
10	AED 7,414	AED 14,828
11	AED 7,414	AED 7,414
12	AED 7,414	AED 0

Monthly Payment Composition

Interest: 81

Principal: 7333

Taurus 2.0L EcoBoost Ambient Car Loan Calculator FAQs in UAE

The car loan process typically involves selecting the vehicle, submitting a loan application, providing necessary documents such as proof of income and identification, and then waiting for the bank's approval.
Yes, taking out a car loan can impact your credit score. Timely payments can improve it, while missed payments can harm it.
You should pay attention to the interest rates, loan terms, any hidden fees, and the total cost of the loan over its duration.
Factors that can affect the interest rate include your credit score, the loan amount, the loan term, and the bank's current policies.
Common documents required include your Emirates ID, salary certificate, bank statements, and proof of residency.