What is the loan process for purchasing a Toyota Corolla 2018 1.6 S in KSA?

The loan process typically involves selecting a bank, submitting necessary documents, filling out an application, and waiting for approval before finalizing the purchase.

Will taking a car loan affect my credit score in KSA?

Yes, taking a car loan can affect your credit score. It may improve your score if you make timely payments, but missing payments can harm it.

What factors influence the interest rate for a car loan in KSA?

Factors include your credit score, the loan term, the bank's policies, and the overall economic conditions.

What documents are required for a car loan application in KSA?

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

Are there any hidden fees associated with car loans in KSA?

Yes, there may be processing fees, insurance costs, and early repayment penalties. It's important to ask the bank for a detailed breakdown.

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Toyota Corolla 2018 1.6 S Car Loan Calculator in KSA

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

Monthly Payment

SAR 8,077

Down Payment

SAR 23,970

Total Cost

SAR 120,894

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 8,077	SAR 88,847
2	SAR 8,077	SAR 80,770
3	SAR 8,077	SAR 72,693
4	SAR 8,077	SAR 64,616
5	SAR 8,077	SAR 56,539
6	SAR 8,077	SAR 48,462
7	SAR 8,077	SAR 40,385
8	SAR 8,077	SAR 32,308
9	SAR 8,077	SAR 24,231
10	SAR 8,077	SAR 16,154
11	SAR 8,077	SAR 8,077
12	SAR 8,077	SAR 0

Monthly Payment Composition

Interest: 87

Principal: 7990

Toyota Corolla 2018 1.6 S Car Loan Calculator FAQs in KSA

The loan process typically involves selecting a bank, submitting necessary documents, filling out an application, and waiting for approval before finalizing the purchase.
Yes, taking a car loan can affect your credit score. It may improve your score if you make timely payments, but missing payments can harm it.
Factors include your credit score, the loan term, the bank's policies, and the overall economic conditions.
Typically, you will need your ID, proof of income, bank statements, and details of the vehicle you wish to purchase.
Yes, there may be processing fees, insurance costs, and early repayment penalties. It's important to ask the bank for a detailed breakdown.