What are the eligibility criteria for obtaining a loan for the Toyota Hiace 2020 in UAE?

Typically, you need to provide proof of income, residency, and a valid Emirates ID. Most banks require a minimum salary threshold.

How does the loan process work for financing a Toyota Hiace 2020?

You need to fill out a loan application, submit the required documents, and then the bank will assess your creditworthiness before approving the loan.

Will taking a loan affect my credit score in UAE?

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

What should I consider before applying for a car loan?

Consider the interest rate, loan tenure, monthly repayments, and your overall budget to ensure you can afford the loan.

What factors influence the loan interest rates in UAE?

Factors include the Central Bank's policy rates, your credit score, the loan amount, and the term length of the loan.

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Toyota Hiace 2020 3.5L GL STD Roof Panel Van (3-Seater) Car Loan Calculator in UAE

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

Monthly Payment

AED 7,002

Down Payment

AED 20,780

Total Cost

AED 104,804

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 7,002	AED 77,022
2	AED 7,002	AED 70,020
3	AED 7,002	AED 63,018
4	AED 7,002	AED 56,016
5	AED 7,002	AED 49,014
6	AED 7,002	AED 42,012
7	AED 7,002	AED 35,010
8	AED 7,002	AED 28,008
9	AED 7,002	AED 21,006
10	AED 7,002	AED 14,004
11	AED 7,002	AED 7,002
12	AED 7,002	AED 0

Monthly Payment Composition

Interest: 76

Principal: 6926

Toyota Hiace 2020 3.5L GL STD Roof Panel Van (3-Seater) Car Loan Calculator FAQs in UAE

Typically, you need to provide proof of income, residency, and a valid Emirates ID. Most banks require a minimum salary threshold.
You need to fill out a loan application, submit the required documents, and then the bank will assess your creditworthiness before approving the loan.
Yes, taking out a loan can impact your credit score. Timely payments can improve it, while missed payments can lower it.
Consider the interest rate, loan tenure, monthly repayments, and your overall budget to ensure you can afford the loan.
Factors include the Central Bank's policy rates, your credit score, the loan amount, and the term length of the loan.