What are the financing options available for purchasing a Toyota Corolla Cross 2021 1.8L XL (HEV) in UAE?

In UAE, you can choose between various financing options such as bank loans, dealership financing, and personal loans. Each option has different interest rates and repayment terms.

How does taking a car loan affect my credit score?

Taking a car loan can affect your credit score positively if you make timely payments. However, missing payments can lead to a negative impact on your credit history.

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

Typically, you will need to provide identification (passport and residency visa), proof of income (salary certificate or bank statements), and details about the vehicle you wish to purchase.

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

The interest rate on your car loan can be influenced by factors such as your credit score, loan amount, loan tenure, and the lender's policies.

Is it better to get a loan from a bank or through the dealership?

It depends on your situation. Banks may offer lower interest rates, while dealerships may provide more convenient terms. It's advisable to compare both options before making a decision.

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Toyota Corolla Cross 2021 1.8L XL (HEV) Car Loan Calculator in UAE

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

Monthly Payment

AED 6,059

Down Payment

AED 17,980

Total Cost

AED 90,688

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 6,059	AED 66,649
2	AED 6,059	AED 60,590
3	AED 6,059	AED 54,531
4	AED 6,059	AED 48,472
5	AED 6,059	AED 42,413
6	AED 6,059	AED 36,354
7	AED 6,059	AED 30,295
8	AED 6,059	AED 24,236
9	AED 6,059	AED 18,177
10	AED 6,059	AED 12,118
11	AED 6,059	AED 6,059
12	AED 6,059	AED 0

Monthly Payment Composition

Interest: 66

Principal: 5993

Toyota Corolla Cross 2021 1.8L XL (HEV) Car Loan Calculator FAQs in UAE

In UAE, you can choose between various financing options such as bank loans, dealership financing, and personal loans. Each option has different interest rates and repayment terms.
Taking a car loan can affect your credit score positively if you make timely payments. However, missing payments can lead to a negative impact on your credit history.
Typically, you will need to provide identification (passport and residency visa), proof of income (salary certificate or bank statements), and details about the vehicle you wish to purchase.
The interest rate on your car loan can be influenced by factors such as your credit score, loan amount, loan tenure, and the lender's policies.
It depends on your situation. Banks may offer lower interest rates, while dealerships may provide more convenient terms. It's advisable to compare both options before making a decision.