What are the requirements for obtaining a car loan for the Honda City 2024 1.5L LX Sport in KSA?

You typically need to provide proof of income, identification, and sometimes a down payment. Additionally, your credit score will be assessed.

How does taking a car loan affect my credit score in KSA?

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

Factors include your credit score, loan term, down payment, and the lender's policies.

Consider your budget, the total cost of the loan, monthly payments, and your ability to repay.

Yes, refinancing is possible if interest rates drop or your credit score improves, which could lower your monthly payments.

CarteaCar Loan Calculator

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

Total Car Price-

Down PaymentSAR 16,077

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 64,416	SAR 0

You typically need to provide proof of income, identification, and sometimes a down payment. Additionally, your credit score will be assessed.
Taking a car loan can initially lower your credit score due to the hard inquiry, but timely payments can improve it over time.
Factors include your credit score, loan term, down payment, and the lender's policies.
Consider your budget, the total cost of the loan, monthly payments, and your ability to repay.
Yes, refinancing is possible if interest rates drop or your credit score improves, which could lower your monthly payments.