What is the car loan process for financing a Kia Sorento 2023 3.5L LX (AWD) in KSA?

The car loan process generally involves applying through a bank or financial institution, submitting required documents like proof of income, and then the lender will evaluate your application before approving the loan.

Will taking a loan for the Kia Sorento affect my credit score?

Yes, taking a loan can impact your credit score, as it will be recorded on your credit report. Timely payments can improve your score, while missed payments can lower it.

What should I be aware of when applying for a car loan?

Be aware of the interest rates, loan terms, and any additional fees. It's important to compare different offers from various lenders to find the best deal.

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, and the financial institution's policies.

Is it possible to refinance my car loan after purchasing the Kia Sorento?

Yes, refinancing is possible if you find a better interest rate or terms after your initial loan. This can help reduce your monthly payments or total interest paid.

CarteaCar Loan Calculator

Kia Sorento 2023 3.5L LX (AWD) Car Loan Calculator in KSA

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

Monthly Payment

SAR 9,920

Down Payment

SAR 29,440

Total Cost

SAR 148,480

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 9,920	SAR 109,120
2	SAR 9,920	SAR 99,200
3	SAR 9,920	SAR 89,280
4	SAR 9,920	SAR 79,360
5	SAR 9,920	SAR 69,440
6	SAR 9,920	SAR 59,520
7	SAR 9,920	SAR 49,600
8	SAR 9,920	SAR 39,680
9	SAR 9,920	SAR 29,760
10	SAR 9,920	SAR 19,840
11	SAR 9,920	SAR 9,920
12	SAR 9,920	SAR 0

Monthly Payment Composition

Interest: 107

Principal: 9813

Kia Sorento 2023 3.5L LX (AWD) Car Loan Calculator FAQs in KSA

The car loan process generally involves applying through a bank or financial institution, submitting required documents like proof of income, and then the lender will evaluate your application before approving the loan.
Yes, taking a loan can impact your credit score, as it will be recorded on your credit report. Timely payments can improve your score, while missed payments can lower it.
Be aware of the interest rates, loan terms, and any additional fees. It's important to compare different offers from various lenders to find the best deal.
Interest rates can be affected by your credit score, the loan amount, the loan term, and the financial institution's policies.
Yes, refinancing is possible if you find a better interest rate or terms after your initial loan. This can help reduce your monthly payments or total interest paid.