What are the eligibility requirements for a car loan for a Land Cruiser 70 VXR 4.0L (3 Door) in KSA?

To be eligible for a car loan, you typically need to be a Saudi citizen or resident, have a stable income, a good credit history, and provide necessary documentation such as your ID, salary certificate, and bank statements.

How does taking a car loan affect my credit score in KSA?

Taking a car loan can affect your credit score positively if you make timely payments. However, missing payments can negatively impact your score.

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

Consider the interest rate, loan term, monthly payments, down payment, and any additional fees. It's also important to compare offers from different banks.

What is the typical interest rate for a car loan in KSA?

The typical interest rate for a car loan in KSA can range from 3% to 6% depending on the bank and the borrower's credit profile.

What are the consequences of defaulting on a car loan in KSA?

Defaulting on a car loan can lead to the repossession of the vehicle, a significant drop in your credit score, and potential legal action from the bank.

CarteaCar Loan Calculator

Land Cruiser 70 VXR 4.0L (3 Door) Car Loan Calculator in KSA

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

Monthly Payment

SAR 11,693

Down Payment

SAR 34,701

Total Cost

SAR 175,017

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 11,693	SAR 128,623
2	SAR 11,693	SAR 116,930
3	SAR 11,693	SAR 105,237
4	SAR 11,693	SAR 93,544
5	SAR 11,693	SAR 81,851
6	SAR 11,693	SAR 70,158
7	SAR 11,693	SAR 58,465
8	SAR 11,693	SAR 46,772
9	SAR 11,693	SAR 35,079
10	SAR 11,693	SAR 23,386
11	SAR 11,693	SAR 11,693
12	SAR 11,693	SAR 0

Monthly Payment Composition

Interest: 127

Principal: 11566

Land Cruiser 70 VXR 4.0L (3 Door) Car Loan Calculator FAQs in KSA

To be eligible for a car loan, you typically need to be a Saudi citizen or resident, have a stable income, a good credit history, and provide necessary documentation such as your ID, salary certificate, and bank statements.
Taking a car loan can affect your credit score positively if you make timely payments. However, missing payments can negatively impact your score.
Consider the interest rate, loan term, monthly payments, down payment, and any additional fees. It's also important to compare offers from different banks.
The typical interest rate for a car loan in KSA can range from 3% to 6% depending on the bank and the borrower's credit profile.
Defaulting on a car loan can lead to the repossession of the vehicle, a significant drop in your credit score, and potential legal action from the bank.