What are the requirements to apply for a loan to purchase a Toyota Corolla 2024 2.0L XLI Executive in KSA?

Typically, you need a valid ID, proof of income, a credit report, and sometimes a down payment.

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, but it may decrease if you miss payments.

Consider the interest rate, loan term, monthly payments, and any additional fees involved.

Some lenders may charge a penalty for early repayment, so it's important to check the loan terms.

Improve your credit score, reduce your debt-to-income ratio, and ensure you have a steady income.

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

SAR 5,821

SAR 17,273

SAR 87,125

Interest: 64

Principal: 5757

Typically, you need a valid ID, proof of income, a credit report, and sometimes a down payment.
Taking a car loan can affect your credit score positively if you make timely payments, but it may decrease if you miss payments.
Consider the interest rate, loan term, monthly payments, and any additional fees involved.
Some lenders may charge a penalty for early repayment, so it's important to check the loan terms.
Improve your credit score, reduce your debt-to-income ratio, and ensure you have a steady income.