What is the car loan process for purchasing a Hyundai Elantra 2023 1.6L Smart HEV in KSA?

The car loan process typically involves selecting the vehicle, applying for the loan with required documents, getting approval from the bank, and finalizing the purchase.

Will taking a loan for the Hyundai Elantra affect my credit score?

Yes, taking a loan will impact your credit score, as it involves a hard inquiry and increases your debt-to-income ratio.

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

Typically, you will need your ID, proof of income, bank statements, and the vehicle details.

What factors affect the interest rate on my car loan?

Factors include your credit score, loan term, the lender's policies, and current market conditions.

Are there any fees associated with car loans in KSA?

Yes, there may be processing fees, early repayment fees, and insurance requirements that can add to the cost of the loan.

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Hyundai Elantra 2023 1.6L Smart HEV Car Loan Calculator in KSA

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

Monthly Payment

SAR 7,776

Down Payment

SAR 23,077

Total Cost

SAR 116,389

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 7,776	SAR 85,536
2	SAR 7,776	SAR 77,760
3	SAR 7,776	SAR 69,984
4	SAR 7,776	SAR 62,208
5	SAR 7,776	SAR 54,432
6	SAR 7,776	SAR 46,656
7	SAR 7,776	SAR 38,880
8	SAR 7,776	SAR 31,104
9	SAR 7,776	SAR 23,328
10	SAR 7,776	SAR 15,552
11	SAR 7,776	SAR 7,776
12	SAR 7,776	SAR 0

Monthly Payment Composition

Interest: 84

Principal: 7692

Hyundai Elantra 2023 1.6L Smart HEV Car Loan Calculator FAQs in KSA

The car loan process typically involves selecting the vehicle, applying for the loan with required documents, getting approval from the bank, and finalizing the purchase.
Yes, taking a loan will impact your credit score, as it involves a hard inquiry and increases your debt-to-income ratio.
Typically, you will need your ID, proof of income, bank statements, and the vehicle details.
Factors include your credit score, loan term, the lender's policies, and current market conditions.
Yes, there may be processing fees, early repayment fees, and insurance requirements that can add to the cost of the loan.