What is the car loan process for purchasing a Hyundai Accent 2020 1.6L High in KSA?

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

Will taking a car loan affect my credit score?

Yes, taking a car loan can impact your credit score, as it adds to your overall debt. Timely payments can improve your score, while missed payments can lower it.

What should I consider when applying for a car loan?

Consider the interest rates, loan terms, monthly payments, your budget, and whether you can afford the total cost of ownership, including insurance and maintenance.

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

Interest rates can be affected by your credit score, the loan amount, the loan term, the vehicle's age, and the lender's policies.

Are there any specific documents needed for a car loan application in KSA?

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

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Hyundai Accent 2020 1.6L High Car Loan Calculator in KSA

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

Monthly Payment

SAR 3,596

Down Payment

SAR 10,670

Total Cost

SAR 53,822

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 3,596	SAR 39,556
2	SAR 3,596	SAR 35,960
3	SAR 3,596	SAR 32,364
4	SAR 3,596	SAR 28,768
5	SAR 3,596	SAR 25,172
6	SAR 3,596	SAR 21,576
7	SAR 3,596	SAR 17,980
8	SAR 3,596	SAR 14,384
9	SAR 3,596	SAR 10,788
10	SAR 3,596	SAR 7,192
11	SAR 3,596	SAR 3,596
12	SAR 3,596	SAR 0

Monthly Payment Composition

Interest: 40

Principal: 3556

Hyundai Accent 2020 1.6L High Car Loan Calculator FAQs in KSA

The car loan process typically involves selecting your vehicle, applying for a loan through a bank or financial institution, providing required documentation, and then receiving approval before finalizing the purchase.
Yes, taking a car loan can impact your credit score, as it adds to your overall debt. Timely payments can improve your score, while missed payments can lower it.
Consider the interest rates, loan terms, monthly payments, your budget, and whether you can afford the total cost of ownership, including insurance and maintenance.
Interest rates can be affected by your credit score, the loan amount, the loan term, the vehicle's age, and the lender's policies.
Yes, typically you will need to provide identification, proof of income, bank statements, and details about the vehicle you wish to purchase.