What is the process for obtaining a car loan for a Honda Civic Type R 2023 2.0T M/T in KSA?

To obtain a car loan, you need to choose a bank, provide necessary documents such as your ID, proof of income, and the vehicle's details, and then submit the application. The bank will evaluate your creditworthiness before approving the loan.

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

Taking out a car loan can impact your credit score positively if you make timely payments. However, missing payments can negatively affect your score.

What should I be aware of when applying for a car loan?

You should be aware of the interest rates, loan terms, any additional fees, and the total repayment amount. It's also important to understand the penalties for late payments.

What factors can affect the interest rate on my car loan?

Factors that can affect the interest rate include your credit score, the loan amount, the loan term, and the economic conditions in KSA.

Can I refinance my car loan in KSA, and what does that entail?

Yes, you can refinance your car loan in KSA. This involves taking a new loan to pay off the existing one, potentially at a lower interest rate or different terms.

CarteaCar Loan Calculator

Honda Civic Type R 2023 2.0T M/T Car Loan Calculator in KSA

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

Monthly Payment

SAR 14,570

Down Payment

SAR 43,240

Total Cost

SAR 218,080

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 14,570	SAR 160,270
2	SAR 14,570	SAR 145,700
3	SAR 14,570	SAR 131,130
4	SAR 14,570	SAR 116,560
5	SAR 14,570	SAR 101,990
6	SAR 14,570	SAR 87,420
7	SAR 14,570	SAR 72,850
8	SAR 14,570	SAR 58,280
9	SAR 14,570	SAR 43,710
10	SAR 14,570	SAR 29,140
11	SAR 14,570	SAR 14,570
12	SAR 14,570	SAR 0

Monthly Payment Composition

Interest: 157

Principal: 14413

Honda Civic Type R 2023 2.0T M/T Car Loan Calculator FAQs in KSA

To obtain a car loan, you need to choose a bank, provide necessary documents such as your ID, proof of income, and the vehicle's details, and then submit the application. The bank will evaluate your creditworthiness before approving the loan.
Taking out a car loan can impact your credit score positively if you make timely payments. However, missing payments can negatively affect your score.
You should be aware of the interest rates, loan terms, any additional fees, and the total repayment amount. It's also important to understand the penalties for late payments.
Factors that can affect the interest rate include your credit score, the loan amount, the loan term, and the economic conditions in KSA.
Yes, you can refinance your car loan in KSA. This involves taking a new loan to pay off the existing one, potentially at a lower interest rate or different terms.