What is the car loan process for purchasing a Kia Sonet 2024 1.5L EX2 in KSA?

The car loan process typically involves choosing a lender, submitting an application, providing necessary documents, and waiting for approval before finalizing the purchase.

Will taking a car loan affect my credit score?

Yes, taking out a car loan can affect your credit score as it increases your credit utilization and involves a hard inquiry on your credit report.

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

You should consider your budget, interest rates, loan terms, monthly payments, and your overall financial situation when applying for a car loan.

What are the interest rates for car loans in KSA?

Interest rates for car loans in KSA can vary based on the lender and your credit profile, typically ranging from 3% to 8%.

What documents are required for a car loan application?

Typically, you will need to provide identification, proof of income, bank statements, and details of the vehicle you intend to purchase.

CarteaCar Loan Calculator

Kia Sonet 2024 1.5L EX2 Car Loan Calculator in KSA

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

Monthly Payment

SAR 6,200

Down Payment

SAR 18,400

Total Cost

SAR 92,800

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 6,200	SAR 68,200
2	SAR 6,200	SAR 62,000
3	SAR 6,200	SAR 55,800
4	SAR 6,200	SAR 49,600
5	SAR 6,200	SAR 43,400
6	SAR 6,200	SAR 37,200
7	SAR 6,200	SAR 31,000
8	SAR 6,200	SAR 24,800
9	SAR 6,200	SAR 18,600
10	SAR 6,200	SAR 12,400
11	SAR 6,200	SAR 6,200
12	SAR 6,200	SAR 0

Monthly Payment Composition

Interest: 67

Principal: 6133

Kia Sonet 2024 1.5L EX2 Car Loan Calculator FAQs in KSA

The car loan process typically involves choosing a lender, submitting an application, providing necessary documents, and waiting for approval before finalizing the purchase.
Yes, taking out a car loan can affect your credit score as it increases your credit utilization and involves a hard inquiry on your credit report.
You should consider your budget, interest rates, loan terms, monthly payments, and your overall financial situation when applying for a car loan.
Interest rates for car loans in KSA can vary based on the lender and your credit profile, typically ranging from 3% to 8%.
Typically, you will need to provide identification, proof of income, bank statements, and details of the vehicle you intend to purchase.