What are the financing options available for purchasing a Toyota Avanza 2022 1.5L GLS (commercial) in the UAE?

In the UAE, you can choose from various financing options such as bank loans, dealer financing, or personal loans. Each option has different terms and interest rates.

How does taking out a loan for a Toyota Avanza affect my credit score?

Taking out a loan can impact your credit score positively if you make timely payments, but missing payments can negatively affect your credit rating.

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

You will typically need to provide proof of identity, residency, income statements, and information about the vehicle you wish to purchase.

What factors can affect the interest rate on my car loan?

Factors include your credit score, the loan amount, the loan term, and the lender's policies. Additionally, market conditions can also play a role.

Are there any prepayment penalties for paying off my car loan early?

Some lenders may impose prepayment penalties, while others do not. It's essential to check the loan agreement for any such clauses.

CarteaCar Loan Calculator

Toyota Avanza 2022 1.5L GLS (commercial) Car Loan Calculator in UAE

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

Monthly Payment

AED 4,549

Down Payment

AED 13,500

Total Cost

AED 68,088

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 4,549	AED 50,039
2	AED 4,549	AED 45,490
3	AED 4,549	AED 40,941
4	AED 4,549	AED 36,392
5	AED 4,549	AED 31,843
6	AED 4,549	AED 27,294
7	AED 4,549	AED 22,745
8	AED 4,549	AED 18,196
9	AED 4,549	AED 13,647
10	AED 4,549	AED 9,098
11	AED 4,549	AED 4,549
12	AED 4,549	AED 0

Monthly Payment Composition

Interest: 49

Principal: 4500

Toyota Avanza 2022 1.5L GLS (commercial) Car Loan Calculator FAQs in UAE

In the UAE, you can choose from various financing options such as bank loans, dealer financing, or personal loans. Each option has different terms and interest rates.
Taking out a loan can impact your credit score positively if you make timely payments, but missing payments can negatively affect your credit rating.
You will typically need to provide proof of identity, residency, income statements, and information about the vehicle you wish to purchase.
Factors include your credit score, the loan amount, the loan term, and the lender's policies. Additionally, market conditions can also play a role.
Some lenders may impose prepayment penalties, while others do not. It's essential to check the loan agreement for any such clauses.