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

The loan process typically involves selecting a bank, submitting necessary documents such as proof of income, and completing an application form. The bank will then assess your creditworthiness before approving the loan.

Will taking a car loan affect my credit score?

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

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

Consider your monthly budget, interest rates, loan terms, and the total cost of the vehicle, including insurance and maintenance.

What is the typical interest rate for a car loan in UAE?

Interest rates for car loans in UAE typically range from 3% to 6% depending on the bank and your credit profile.

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

Factors include economic conditions, central bank policies, inflation rates, and market demand for currency.

CarteaCar Loan Calculator

Terrain SLE 1.5L Car Loan Calculator in UAE

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

Monthly Payment

AED 7,130

Down Payment

AED 21,160

Total Cost

AED 106,720

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 7,130	AED 78,430
2	AED 7,130	AED 71,300
3	AED 7,130	AED 64,170
4	AED 7,130	AED 57,040
5	AED 7,130	AED 49,910
6	AED 7,130	AED 42,780
7	AED 7,130	AED 35,650
8	AED 7,130	AED 28,520
9	AED 7,130	AED 21,390
10	AED 7,130	AED 14,260
11	AED 7,130	AED 7,130
12	AED 7,130	AED 0

Monthly Payment Composition

Interest: 77

Principal: 7053

Terrain SLE 1.5L Car Loan Calculator FAQs in UAE

The loan process typically involves selecting a bank, submitting necessary documents such as proof of income, and completing an application form. The bank will then assess your creditworthiness before approving the loan.
Yes, taking a car loan can affect your credit score. Timely repayments can improve your score, while missed payments can harm it.
Consider your monthly budget, interest rates, loan terms, and the total cost of the vehicle, including insurance and maintenance.
Interest rates for car loans in UAE typically range from 3% to 6% depending on the bank and your credit profile.
Factors include economic conditions, central bank policies, inflation rates, and market demand for currency.