What is the car loan process for purchasing a Honda Accord 2024 2.0L EXL (Hybrid) in KSA?

The car loan process typically involves selecting the vehicle, applying for a loan through a bank or financial institution, providing necessary documentation, and then finalizing the purchase upon loan approval.

How does taking out a loan for the Honda Accord affect my credit score?

Taking out a loan can initially lower your credit score due to the hard inquiry, but making timely payments can improve your score over time.

What are the common requirements for obtaining a car loan in KSA?

Common requirements include proof of income, identification documents, a valid Saudi residency permit, and a good credit history.

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.

Are there any additional fees associated with taking a car loan in KSA?

Yes, there may be processing fees, insurance requirements, and early repayment penalties depending on the lender.

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Honda Accord 2024 2.0L EXL (Hybrid) Car Loan Calculator in KSA

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

Monthly Payment

SAR 12,470

Down Payment

SAR 37,007

Total Cost

SAR 186,647

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 12,470	SAR 137,170
2	SAR 12,470	SAR 124,700
3	SAR 12,470	SAR 112,230
4	SAR 12,470	SAR 99,760
5	SAR 12,470	SAR 87,290
6	SAR 12,470	SAR 74,820
7	SAR 12,470	SAR 62,350
8	SAR 12,470	SAR 49,880
9	SAR 12,470	SAR 37,410
10	SAR 12,470	SAR 24,940
11	SAR 12,470	SAR 12,470
12	SAR 12,470	SAR 0

Monthly Payment Composition

Interest: 135

Principal: 12335

Honda Accord 2024 2.0L EXL (Hybrid) Car Loan Calculator FAQs in KSA

The car loan process typically involves selecting the vehicle, applying for a loan through a bank or financial institution, providing necessary documentation, and then finalizing the purchase upon loan approval.
Taking out a loan can initially lower your credit score due to the hard inquiry, but making timely payments can improve your score over time.
Common requirements include proof of income, identification documents, a valid Saudi residency permit, and a good credit history.
Factors include your credit score, the loan amount, the loan term, and the lender's policies.
Yes, there may be processing fees, insurance requirements, and early repayment penalties depending on the lender.