What is the car loan process for purchasing a Hyundai Accent 2023 1.6L Mid Option in KSA?

The car loan process typically involves selecting a bank or financial institution, submitting necessary documents, and filling out a loan application. Once approved, you can finalize the purchase.

How will a car loan affect my credit score in KSA?

Taking out a car loan can impact your credit score positively or negatively, depending on your repayment history. Timely payments can improve your score, while missed payments can harm it.

What factors should I consider when applying for a car loan?

Consider factors such as interest rates, loan terms, your credit score, and the total cost of the loan, including any fees.

What documents do I need to provide for a car loan application?

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

What factors influence the loan interest rate for a car loan in KSA?

Loan interest rates can be influenced by your credit score, the loan amount, the term of the loan, and the current economic conditions.

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Hyundai Accent 2023 1.6L Mid Option Car Loan Calculator in KSA

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

Monthly Payment

SAR 5,560

Down Payment

SAR 16,500

Total Cost

SAR 83,220

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 5,560	SAR 61,160
2	SAR 5,560	SAR 55,600
3	SAR 5,560	SAR 50,040
4	SAR 5,560	SAR 44,480
5	SAR 5,560	SAR 38,920
6	SAR 5,560	SAR 33,360
7	SAR 5,560	SAR 27,800
8	SAR 5,560	SAR 22,240
9	SAR 5,560	SAR 16,680
10	SAR 5,560	SAR 11,120
11	SAR 5,560	SAR 5,560
12	SAR 5,560	SAR 0

Monthly Payment Composition

Interest: 60

Principal: 5500

Hyundai Accent 2023 1.6L Mid Option Car Loan Calculator FAQs in KSA

The car loan process typically involves selecting a bank or financial institution, submitting necessary documents, and filling out a loan application. Once approved, you can finalize the purchase.
Taking out a car loan can impact your credit score positively or negatively, depending on your repayment history. Timely payments can improve your score, while missed payments can harm it.
Consider factors such as interest rates, loan terms, your credit score, and the total cost of the loan, including any fees.
You typically need to provide identification, proof of income, bank statements, and details about the vehicle you wish to purchase.
Loan interest rates can be influenced by your credit score, the loan amount, the term of the loan, and the current economic conditions.