What is the car loan process for purchasing an ALTIMA SR in KSA?

The car loan process typically involves choosing a bank, submitting your application, providing necessary documentation, and waiting for approval before signing the contract.

Will taking a car loan affect my credit score in KSA?

Yes, taking a car loan can affect your credit score positively or negatively depending on your repayment history and overall credit behavior.

What factors influence the interest rate on my car loan in KSA?

Factors such as your credit score, loan amount, loan term, and the bank's policies can influence the interest rate on your car loan.

What documents are required for a car loan application for an ALTIMA SR?

Typically, you will need to provide identification, proof of income, bank statements, and details about the vehicle you wish to purchase.

What should I consider before applying for a car loan in KSA?

Consider your budget, interest rates, loan terms, and your ability to make monthly payments before applying for a car loan.

CarteaCar Loan Calculator

ALTIMA SR Car Loan Calculator in KSA

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

Monthly Payment

SAR 7,986

Down Payment

SAR 23,700

Total Cost

SAR 119,532

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 7,986	SAR 87,846
2	SAR 7,986	SAR 79,860
3	SAR 7,986	SAR 71,874
4	SAR 7,986	SAR 63,888
5	SAR 7,986	SAR 55,902
6	SAR 7,986	SAR 47,916
7	SAR 7,986	SAR 39,930
8	SAR 7,986	SAR 31,944
9	SAR 7,986	SAR 23,958
10	SAR 7,986	SAR 15,972
11	SAR 7,986	SAR 7,986
12	SAR 7,986	SAR 0

Monthly Payment Composition

Interest: 86

Principal: 7900

ALTIMA SR Car Loan Calculator FAQs in KSA

The car loan process typically involves choosing a bank, submitting your application, providing necessary documentation, and waiting for approval before signing the contract.
Yes, taking a car loan can affect your credit score positively or negatively depending on your repayment history and overall credit behavior.
Factors such as your credit score, loan amount, loan term, and the bank's policies can influence the interest rate on your car loan.
Typically, you will need to provide identification, proof of income, bank statements, and details about the vehicle you wish to purchase.
Consider your budget, interest rates, loan terms, and your ability to make monthly payments before applying for a car loan.