What is the car loan process for purchasing a Terrain AT4 1.5L in UAE?

The car loan process typically involves selecting a lender, submitting your income and identification documents, filling out an application form, and then waiting for approval. After approval, you will finalize the loan details and sign the agreement.

Will taking a loan for a Terrain AT4 1.5L affect my credit score?

Yes, taking a loan can impact your credit score. If you make timely payments, it can improve your score, but missed or late payments can negatively affect it.

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

Before applying, consider your budget, the interest rates offered, loan terms, your credit score, and whether you can afford the down payment and monthly installments.

What factors influence the interest rate on a car loan in UAE?

Factors that influence the interest rate include your credit score, the loan amount, the loan term, the lender’s policies, and current market conditions.

Can I get a car loan if I have a low credit score?

Yes, you can still get a car loan with a low credit score, but you may face higher interest rates or require a co-signer. It’s advisable to shop around for lenders who specialize in loans for individuals with lower credit scores.

CarteaCar Loan Calculator

Terrain AT4 1.5L Car Loan Calculator in UAE

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

Monthly Payment

AED 8,573

Down Payment

AED 25,440

Total Cost

AED 128,316

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 8,573	AED 94,303
2	AED 8,573	AED 85,730
3	AED 8,573	AED 77,157
4	AED 8,573	AED 68,584
5	AED 8,573	AED 60,011
6	AED 8,573	AED 51,438
7	AED 8,573	AED 42,865
8	AED 8,573	AED 34,292
9	AED 8,573	AED 25,719
10	AED 8,573	AED 17,146
11	AED 8,573	AED 8,573
12	AED 8,573	AED 0

Monthly Payment Composition

Interest: 93

Principal: 8480

Terrain AT4 1.5L Car Loan Calculator FAQs in UAE

The car loan process typically involves selecting a lender, submitting your income and identification documents, filling out an application form, and then waiting for approval. After approval, you will finalize the loan details and sign the agreement.
Yes, taking a loan can impact your credit score. If you make timely payments, it can improve your score, but missed or late payments can negatively affect it.
Before applying, consider your budget, the interest rates offered, loan terms, your credit score, and whether you can afford the down payment and monthly installments.
Factors that influence the interest rate include your credit score, the loan amount, the loan term, the lender’s policies, and current market conditions.
Yes, you can still get a car loan with a low credit score, but you may face higher interest rates or require a co-signer. It’s advisable to shop around for lenders who specialize in loans for individuals with lower credit scores.