What are the common terms for a car loan for a 2018 Toyota Corolla 2.0L SE in KSA?

Common terms for a car loan typically include an interest rate ranging from 3% to 7%, loan tenure between 1 to 5 years, and a down payment of 10% to 20% of the car's price.

How do I apply for a car loan for a 2018 Toyota Corolla in KSA?

You can apply for a car loan by visiting a bank or financial institution, submitting necessary documents such as your ID, proof of income, and filling out the loan application form.

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

Yes, taking a loan can affect your credit score, particularly if you miss payments. It's important to manage your loan responsibly to maintain a good credit score.

What should I consider before taking a car loan for a Toyota Corolla in KSA?

Consider the total cost of the loan, including interest rates, fees, monthly payments, and your budget. Make sure you can afford the repayments without straining your finances.

What factors influence car loan rates in KSA?

Factors include your credit score, loan amount, loan duration, the bank's policies, and economic conditions. A higher credit score usually results in lower interest rates.

CarteaCar Loan Calculator

Toyota Corolla 2018 2.0L SE Car Loan Calculator in KSA

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

Monthly Payment

SAR 7,380

Down Payment

SAR 21,900

Total Cost

SAR 110,460

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 7,380	SAR 81,180
2	SAR 7,380	SAR 73,800
3	SAR 7,380	SAR 66,420
4	SAR 7,380	SAR 59,040
5	SAR 7,380	SAR 51,660
6	SAR 7,380	SAR 44,280
7	SAR 7,380	SAR 36,900
8	SAR 7,380	SAR 29,520
9	SAR 7,380	SAR 22,140
10	SAR 7,380	SAR 14,760
11	SAR 7,380	SAR 7,380
12	SAR 7,380	SAR 0

Monthly Payment Composition

Interest: 80

Principal: 7300

Toyota Corolla 2018 2.0L SE Car Loan Calculator FAQs in KSA

Common terms for a car loan typically include an interest rate ranging from 3% to 7%, loan tenure between 1 to 5 years, and a down payment of 10% to 20% of the car's price.
You can apply for a car loan by visiting a bank or financial institution, submitting necessary documents such as your ID, proof of income, and filling out the loan application form.
Yes, taking a loan can affect your credit score, particularly if you miss payments. It's important to manage your loan responsibly to maintain a good credit score.
Consider the total cost of the loan, including interest rates, fees, monthly payments, and your budget. Make sure you can afford the repayments without straining your finances.
Factors include your credit score, loan amount, loan duration, the bank's policies, and economic conditions. A higher credit score usually results in lower interest rates.