What is the car loan process for purchasing a Hyundai Sonata 2024 2.5L Base in KSA?

The car loan process typically involves applying for a loan at a bank or financial institution, providing necessary documents such as your ID, proof of income, and vehicle details, and then waiting for approval.

Will taking a car loan affect my credit score?

Yes, taking a car loan can affect your credit score. If you make timely payments, it can improve your score, but late payments can negatively impact it.

What should I consider before applying for a car loan?

Consider your monthly budget, the total cost of the loan including interest, and whether you have a stable income to support the loan payments.

What factors can affect the car loan interest rate?

Factors include your credit score, the loan amount, the loan term, and the lender's policies.

What documents do I need to apply for a car loan in KSA?

You will typically need your ID, proof of income (such as salary slips), bank statements, and vehicle details.

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Hyundai Sonata 2024 2.5L Base Car Loan Calculator in KSA

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

Monthly Payment

SAR 7,589

Down Payment

SAR 22,522

Total Cost

SAR 113,590

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 7,589	SAR 83,479
2	SAR 7,589	SAR 75,890
3	SAR 7,589	SAR 68,301
4	SAR 7,589	SAR 60,712
5	SAR 7,589	SAR 53,123
6	SAR 7,589	SAR 45,534
7	SAR 7,589	SAR 37,945
8	SAR 7,589	SAR 30,356
9	SAR 7,589	SAR 22,767
10	SAR 7,589	SAR 15,178
11	SAR 7,589	SAR 7,589
12	SAR 7,589	SAR 0

Monthly Payment Composition

Interest: 82

Principal: 7507

Hyundai Sonata 2024 2.5L Base Car Loan Calculator FAQs in KSA

The car loan process typically involves applying for a loan at a bank or financial institution, providing necessary documents such as your ID, proof of income, and vehicle details, and then waiting for approval.
Yes, taking a car loan can affect your credit score. If you make timely payments, it can improve your score, but late payments can negatively impact it.
Consider your monthly budget, the total cost of the loan including interest, and whether you have a stable income to support the loan payments.
Factors include your credit score, the loan amount, the loan term, and the lender's policies.
You will typically need your ID, proof of income (such as salary slips), bank statements, and vehicle details.