What are the loan options available for purchasing a Volvo S60 2020 2.0T T5 R Design in the UAE?

In the UAE, you can choose from various loan options such as fixed-rate loans, variable-rate loans, and bank financing plans tailored for car purchases.

How do I apply for a car loan for the Volvo S60 2020 in the UAE?

To apply for a car loan, you typically need to visit a bank or financial institution, provide necessary documents such as your ID, proof of income, and the vehicle details, and fill out an application form.

Will taking a loan for the Volvo S60 affect my credit score?

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

What should I be aware of when taking a car loan in the UAE?

You should be aware of the interest rates, loan tenure, any hidden fees, and the total cost of the loan over time.

What factors can influence the car loan interest rate in the UAE?

Factors include your credit score, the loan amount, the repayment period, and the economic conditions in the UAE.

CarteaCar Loan Calculator

Volvo S60 2020 2.0T T5 R Design Car Loan Calculator in UAE

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

Monthly Payment

AED 11,113

Down Payment

AED 32,980

Total Cost

AED 166,336

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	AED 11,113	AED 122,243
2	AED 11,113	AED 111,130
3	AED 11,113	AED 100,017
4	AED 11,113	AED 88,904
5	AED 11,113	AED 77,791
6	AED 11,113	AED 66,678
7	AED 11,113	AED 55,565
8	AED 11,113	AED 44,452
9	AED 11,113	AED 33,339
10	AED 11,113	AED 22,226
11	AED 11,113	AED 11,113
12	AED 11,113	AED 0

Monthly Payment Composition

Interest: 120

Principal: 10993

Volvo S60 2020 2.0T T5 R Design Car Loan Calculator FAQs in UAE

In the UAE, you can choose from various loan options such as fixed-rate loans, variable-rate loans, and bank financing plans tailored for car purchases.
To apply for a car loan, you typically need to visit a bank or financial institution, provide necessary documents such as your ID, proof of income, and the vehicle details, and fill out an application form.
Yes, taking a loan can affect your credit score. If you make timely payments, it can improve your score, but missed payments can negatively impact it.
You should be aware of the interest rates, loan tenure, any hidden fees, and the total cost of the loan over time.
Factors include your credit score, the loan amount, the repayment period, and the economic conditions in the UAE.