What is the car loan process for purchasing a Honda HR-V 2024 1.8 i-VTEC DX in KSA?

The car loan process typically involves selecting a bank, submitting required documents, filling out an application, and waiting for approval. Once approved, you'll sign the loan agreement and can purchase the vehicle.

Will taking out a loan for my Honda HR-V affect my credit score?

Yes, taking out a loan can affect your credit score. A new loan application may result in a hard inquiry, which can temporarily lower your score. However, timely payments can improve your score over time.

What documents are required to apply for a car loan in KSA?

Typically, you will need your ID, proof of income, bank statements, and details of the vehicle you wish to purchase, such as the Honda HR-V 2024.

What factors influence the interest rate for my car loan?

Factors that influence the interest rate include your credit score, the loan amount, the loan term, and current market rates offered by banks.

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

Yes, there may be fees such as processing fees, administrative fees, and insurance costs that could be applicable when obtaining a car loan.

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Honda HR-V 2024 1.8 i-VTEC DX Car Loan Calculator in KSA

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

Monthly Payment

SAR 6,813

Down Payment

SAR 20,217

Total Cost

SAR 101,973

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 6,813	SAR 74,943
2	SAR 6,813	SAR 68,130
3	SAR 6,813	SAR 61,317
4	SAR 6,813	SAR 54,504
5	SAR 6,813	SAR 47,691
6	SAR 6,813	SAR 40,878
7	SAR 6,813	SAR 34,065
8	SAR 6,813	SAR 27,252
9	SAR 6,813	SAR 20,439
10	SAR 6,813	SAR 13,626
11	SAR 6,813	SAR 6,813
12	SAR 6,813	SAR 0

Monthly Payment Composition

Interest: 74

Principal: 6739

Honda HR-V 2024 1.8 i-VTEC DX Car Loan Calculator FAQs in KSA

The car loan process typically involves selecting a bank, submitting required documents, filling out an application, and waiting for approval. Once approved, you'll sign the loan agreement and can purchase the vehicle.
Yes, taking out a loan can affect your credit score. A new loan application may result in a hard inquiry, which can temporarily lower your score. However, timely payments can improve your score over time.
Typically, you will need your ID, proof of income, bank statements, and details of the vehicle you wish to purchase, such as the Honda HR-V 2024.
Factors that influence the interest rate include your credit score, the loan amount, the loan term, and current market rates offered by banks.
Yes, there may be fees such as processing fees, administrative fees, and insurance costs that could be applicable when obtaining a car loan.