What are the common terms for a car loan when purchasing a Toyota Avanza 2021 1.5L SE in Oman?

Common terms for a car loan in Oman include an interest rate ranging from 4% to 8%, loan tenure of 1 to 5 years, and a down payment of 10% to 20% of the car's price.

How does applying for a car loan affect my credit score in Oman?

Applying for a car loan can temporarily lower your credit score due to the hard inquiry, but timely repayments can improve your score over time.

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

You will typically need to provide proof of identity, proof of income, bank statements, and details of the car you intend to purchase.

What factors can influence the interest rate on my car loan in Oman?

Factors influencing the interest rate include your credit score, the loan amount, the loan tenure, and the lender's policies.

Are there any hidden fees I should be aware of when taking a car loan in Oman?

Yes, be aware of potential hidden fees such as processing fees, early repayment penalties, and insurance costs that may not be included in the initial loan offer.

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Toyota Avanza 2021 1.5L SE Car Loan Calculator in OMAN

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

Monthly Payment

OMR 425

Down Payment

OMR 1,260

Total Cost

OMR 6,360

Car Loan Monthly Installments Schedule

Repayment Schedule	Monthly Repayment	Remaining repayment amount
1	OMR 425	OMR 4,675
2	OMR 425	OMR 4,250
3	OMR 425	OMR 3,825
4	OMR 425	OMR 3,400
5	OMR 425	OMR 2,975
6	OMR 425	OMR 2,550
7	OMR 425	OMR 2,125
8	OMR 425	OMR 1,700
9	OMR 425	OMR 1,275
10	OMR 425	OMR 850
11	OMR 425	OMR 425
12	OMR 425	OMR 0

Monthly Payment Composition

Interest: 5

Principal: 420

Toyota Avanza 2021 1.5L SE Car Loan Calculator FAQs in Oman

Common terms for a car loan in Oman include an interest rate ranging from 4% to 8%, loan tenure of 1 to 5 years, and a down payment of 10% to 20% of the car's price.
Applying for a car loan can temporarily lower your credit score due to the hard inquiry, but timely repayments can improve your score over time.
You will typically need to provide proof of identity, proof of income, bank statements, and details of the car you intend to purchase.
Factors influencing the interest rate include your credit score, the loan amount, the loan tenure, and the lender's policies.
Yes, be aware of potential hidden fees such as processing fees, early repayment penalties, and insurance costs that may not be included in the initial loan offer.