What is the process for obtaining a car loan for a Toyota Granvia 2020 3.5L Executive in KSA?

To obtain a car loan for a Toyota Granvia 2020, you typically need to provide your identification, proof of income, and bank statements. The process involves filling out a loan application with your chosen bank, getting pre-approved, and then finalizing the loan after selecting the vehicle.

Will taking out a loan for the Toyota Granvia affect my credit score?

Yes, taking out a loan can affect your credit score. When you apply for a loan, the bank will conduct a credit inquiry, which may temporarily lower your score. However, if you make timely payments, it can improve your credit score over time.

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

Consider your monthly budget, the interest rates offered, the loan terms, the total cost of the car, and your ability to make payments. It's also important to check your credit score and understand any fees associated with the loan.

What are the common interest rates for car loans in KSA?

Interest rates for car loans in KSA typically range from 3% to 7%, depending on the bank and your creditworthiness. It's advisable to compare rates from different banks to find the best deal.

What documents do I need to provide for a car loan application?

You will typically need to provide your national ID or residency permit, proof of income (such as salary slips), bank statements, and any additional documentation requested by the bank.

CarteaCar Loan Calculator

Toyota Granvia 2020 3.5L Executive Car Loan Calculator in KSA

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

Monthly Payment

SAR 13,565

Down Payment

SAR 40,258

Total Cost

SAR 203,038

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	SAR 13,565	SAR 149,215
2	SAR 13,565	SAR 135,650
3	SAR 13,565	SAR 122,085
4	SAR 13,565	SAR 108,520
5	SAR 13,565	SAR 94,955
6	SAR 13,565	SAR 81,390
7	SAR 13,565	SAR 67,825
8	SAR 13,565	SAR 54,260
9	SAR 13,565	SAR 40,695
10	SAR 13,565	SAR 27,130
11	SAR 13,565	SAR 13,565
12	SAR 13,565	SAR 0

Monthly Payment Composition

Interest: 146

Principal: 13419

Toyota Granvia 2020 3.5L Executive Car Loan Calculator FAQs in KSA

To obtain a car loan for a Toyota Granvia 2020, you typically need to provide your identification, proof of income, and bank statements. The process involves filling out a loan application with your chosen bank, getting pre-approved, and then finalizing the loan after selecting the vehicle.
Yes, taking out a loan can affect your credit score. When you apply for a loan, the bank will conduct a credit inquiry, which may temporarily lower your score. However, if you make timely payments, it can improve your credit score over time.
Consider your monthly budget, the interest rates offered, the loan terms, the total cost of the car, and your ability to make payments. It's also important to check your credit score and understand any fees associated with the loan.
Interest rates for car loans in KSA typically range from 3% to 7%, depending on the bank and your creditworthiness. It's advisable to compare rates from different banks to find the best deal.
You will typically need to provide your national ID or residency permit, proof of income (such as salary slips), bank statements, and any additional documentation requested by the bank.