Check and Compare car loan interest rate on used and new cars
EMI Tenure up to 48 Months
Lowest Interest Rates
Get Car loan at Lowest Interest Rate
Purchasing a car is undoubtedly a significant milestone in our lives. When fulfilling this goal, we can pay upfront or secure a car loan for financial assistance. Obtaining the right car loan offers a convenient and flexible way to purchase a car. With careful planning and budgeting, we can save ourselves from spending up all our savings with flexible repayment plans.
With that said, a wide range of car loan options are available in the UAE with flexible repayment terms, low-interest rates, and several other benefits. The right car loan, however, is the one that fits your budget with easy repayment terms.
To find which loan plan meets these requirements, a car loan calculator in the UAE plays an essential role. This online tool can help you understand the true cost of the car loan and allow you to budget for your car loan monthly repayments.
What is a Car Loan EMI Calculator in UAE?
A car loan calculator is a tool used to determine the monthly payments and total cost of a car loan. It allows you to input information about the loan amount, interest rate, and loan term to calculate the monthly payment. This tool is handy for those who plan to purchase a car and want to find a monthly repayment plan to see whether the car loan fits into their budget.
Another added advantage of car loan calculators in the UAE is that you can easily compare the different loan options, which helps you make an informed decision about which loan is right for you. With a car loan EMI calculator, you can also easily see the impact of changes in the loan amount, interest/ profit rate, or loan term on the monthly repayment and the total cost of the loan, giving you greater control over your car purchasing decisions.
How to Use Policybazaar Car Loan EMI Calculator?
You can use the car loan EMI calculator on the Policybazaar UAE platform. Apart from offering the total monthly instalment on the loan, it also shows separate interest amounts and monthly instalments to give you a clear picture of your car loan. The tool is quite easy to use - no technical knowledge or jargon is required to use it efficiently.
Follow the given steps to use the Policybazaar UAE car loan EMI calculator in the UAE –
Step1- Visit policybazaar.ae and choose 'Car Loan' from the dropdown menu.
Step2- Scroll the car loan profile page and locate the ‘Car Loan EMI Calculator’.
Step3- You would be required to key in the following information to get the results -
Loan Amount: The amount you are borrowing to finance your car purchase
Interest/ Profit Rate: The interest or profit rate offered by the lender on the loan amount
Loan Tenure: The number of years over which you will repay the loan
Down Payment: The initial payment made by you at the time of taking out a car loan
Based on your information, the Policybazaar UAE car loan EMI calculator will estimate the equated monthly instalments or EMIs you will have to make on the loan.
You can also tweak the values and choose a suitable combination of the loan amount, loan tenure, interest/profit rate, and down payment amount.
Benefits of Using Policybazaar UAE Car Loan EMI Calculator
As mentioned earlier, the Policybazaar UAE car loan calculator is an effective tool for anyone looking to purchase a vehicle and wanting to comprehend the financial implications of different loan options. Moreover, our calculator will help you make informed decisions about how much you can afford to borrow and how long you should finance the loan.
Some of the other benefits of using the Policybazaar UAE car loan EMI calculator are listed below –
No Usage Limit: Policybazaar UAE car loan calculator provides a flexible and convenient way to explore different financing scenarios and determine the best option for your needs. To do this, you can use the tool as often as you like to compare the various loan options and compare them with each other.
Easy to Use: As stated earlier, the car loan calculator on Policybazaar UAE is straightforward to use and requires minimal information. By entering a few basic details of the loan, you can rapidly estimate the monthly payment and overall cost of the loan.
Makes Comparison Easier: With no usage limit benefit, you can tweak the values in the calculator and quickly compare the loan option and choose the most cost-effective option.
Helps in Budgeting: By providing an estimate of the monthly payment and total cost of the loan, this calculator determines how much you can afford to spend on a car loan and plan your budget accordingly. This can help you make a wise choice about your finances and ensure that you have enough money to cover your daily expenses and loan repayments.
Saves Time: Using the Policybazaar UAE car loan calculator saves you time compared to manually calculating a loan's cost. This can help you make a decision quickly without any hassles.
Full Transparency: Another advantage of using a car loan calculator is that it provides a clear and transparent understanding of the car loan cost, reducing errors and misunderstandings.
Take into Account Other Factors: Generally, car loan calculators include the loan amount, loan tenure, and interest amount. Policybazaar UAE, however, is one step ahead by providing a separate field for the down payment amount to give you a nearly accurate monthly repayment amount.
How Does the Policybazaar UAE Car Loan Calculator Work?
Once you have provided the required details in the respective fields, the Policybazaar UAE calculator will instantly make the calculation to give you the results. You can change the values and see how the monthly instalment amount changes.
Its worth noting that the EMI calculated by the Policybazaar UAE car loan calculator is only an estimate. Your actual monthly instalments may differ depending on various factors such as your credit score, fees, charges, and other associated terms and conditions with the loan. Nevertheless, a car loan calculator is helpful for getting a rough idea of the monthly repayments you can expect on a loan.
Keep in mind that once you have computed the monthly instalments on the loan, you can also tap on the 'View Plans' button to explore the different plans available in the UAE. This will take you to the 'Car Loans' quotes page, where you research, compare, select, and apply for the plan.
Factors Affecting Policybazaar UAE Car Loan EMI Calculation
Let’s now understand how Policybazaar UAE car loan monthly instalments are affected. Given below are some of the major factors –
Loan Amount: The loan amount refers to the total amount you are borrowing to finance your car purchase. The higher the loan amount, the higher the monthly payments will be.
Interest/Profit Rate: Interest or profit is the amount that the lender charges a borrower for the finance for a specified period. It is generally expressed in percentages of the total loan/finance amount. A higher interest rate will result in higher monthly payments, and a lower interest rate will result in lower monthly payments.
Loan Tenure: Another factor affecting the monthly instalment is the period in which you will be paying back the loan. While a longer loan tenure will result in a lower monthly payment, you will end up paying more in total interest over the life of the loan. On the other hand, although a shorter loan tenure will result in a higher monthly payment, you will pay less in total interest over the life of the loan.
Down Payment: The amount you put down as a down payment can also affect the monthly payment. A larger down payment will result in a lower monthly payment because you are borrowing less money. Our calculator generally puts 80% of the vehicle amount as a down payment.
Considering these factors, the Policybazaar UAE car loan calculator provides estimated monthly instalments and gives an accurate estimate of the total cost of financing.
What is the significant benefit of using a car loan EMI calculator in the UAE?
A car loan EMI calculator provides a myriad of benefits including the following –
Provides a clear picture of the costs involved in financing a vehicles
Helps in the calculation of monthly instalments without tedious manual calculations
Assists in choosing the best loan option suiting your budget
Helps in budgeting your finances effectively and making informed decisions
Makes the process of car buying smoother and more manageable overall
Do I need to pay fees to use the Policybazaar UAE auto loan calculator?
No, you can use the Policybazaar UAE auto loan EMI calculator unlimited times without any fees or costs.
How can I use the UAE car loan calculator?
The UAE car loan calculator is simple and easy to use. You just need to enter specific details like the loan amount, loan term, interest /profit rate, and the down payment amount to have the amount displayed in a second or two.
What is the accuracy of the car loan calculator UAE?
Car loan calculators UAE provide near-accurate results. However, the actual results depend on the borrower's profile and other loan terms and conditions.
What is a car loan EMI calculator in UAE?
Car loan EMI calculator UAE is an automated tool that helps you determine the estimated equated monthly instalments of the car loan based on your inputs. You can easily tweak the values and choose an appropriate combination of the loan term, loan amount, and interest rate.
How can I know the interest amount on a car loan in UAE?
You can use the Policybazaar UAE car loan calculator to know the total cost of the loan and what amount is going towards the interest and principal.
What is the eligibility criterion for using the Policybazaar UAE car loan EMI calculator?
Anyone planning to purchase a car in UAE can use the Policybazaar UAE car loan EMI calculator to get an idea of estimated monthly instalments. This calculator is open to everyone and free for all!
Excellent choice for car loan in UAERecently took car loan in UAE from Policybazaar.ae and was absolutely impressed. Rates were competitive, good plan collection, and very easy application process overall.
Muhammad ArifAjman, March 20, 2023
Best car loan plans in UAEWhat truly separates Policybazaar.ae for me is how they have literally the best plans for car loans in UAE! For different cars, I have got loans from different banks and all thanks to Policybazaar UAE for making it so easy to compar!!
Ashok BhandariDubai, March 19, 2023
Highly recommend because of smooth processAs a UAE resident looking for a car loan, I found it extremely easy to apply for a car loan with Policybazaar.ae. The process was easy to understand and the customer service was top-notch that made sure I had literally a 0 trouble experience!!!
MD QasimAbu Dhabi, March 19, 2023
Most trustedPolicybazaar.ae is absolutely the most reliable and trusted place to apply for a car loan in UAE. Their collection of car loans is magnificent and the rates are quite low I would say.
RAMI AHMAD ALHELODubai, March 18, 2023
Thanks a lotI am very thankful to policybazaar.ae for their great help. After the form, I was easily able to compare car finance in Dubai options and apply for one within minutes!!
BaskaranSharjah, March 18, 2023
Best car loan siteOver the years I have turned only to policybazaar.ae to apply for car loan in UAE. The website is super easy and has best car finance plans in the country ever!!
Sariga Anchery SivanandanSharjah, March 17, 2023
Customer service was top-notchI had a few questions as I was going through the application process for car loan in UAE with policybazaar.ae and the customer service team was incredibly helpful. They answered all of my questions and walked me through the process legit step-by-step.
Kristhel Dianne CatolosAjman, March 17, 2023
Great car loan ratesWith policybazaar.ae I found great car loan in UAE one after another and all the plans were at very reasonable rates. Would absolutely recommend Policybazaar UAE to yall
zubairAbu Dhabi, March 17, 2023
Zero problem applicationI was pleasantly surprised by the ease with which I was able to apply for a car loan with policybazaar.ae. The process was easy as a breeze and I got the approval so fast!
JithuUmm Al Quwain, March 17, 2023
Big thanks Policybazaar UAEThank you so much policybazaar.ae for helping me get the best car loan in UAE so so easily!!!
A pre-owned car loan is a type of car loan that, as the name indicates, helps you purchase a used car. The loan amount is generally based on the market value of the car, and you are required to make monthly payments with interest until the loan is fully repaid.
SME Car Loan - Get complete info about SME Car Loans in UAE. Check eligibility, Interest rates, Document Required, Features & Benefits, & more. Also, check out which bank provides SME Car Finance in UAE.
Car Loan with No Credit History or Cosigner - If you want to take a car loan first time with no credit and co-signer, so must read this article because we are providing the best tips for getting a car loan with no credit history and cosigner.
Car Loan Payment with a Credit Card - If you want to pay your car loan with a credit card so must read this article because we discussed paying your car loan using credit card. And also know the advantages & disadvantages of paying a car loan with a credit card.
Buy a Car with Cash or Loan - If you do not know which option is best for you to buy a car with cash and loan. So you must read this article because we discussed which option is better for you to buy a car with cash or loan in UAE with features and benefits.
Commercial Vehicle Loan in UAE - Get complete information about Commercial Vehicle finance in UAE. Check eligibility, document requirements, types of commercial vehicles loans, features & benefits, & more.
Emirates Islamic Bank Car Loan Calculator helps calculate your monthly EMI for your car loan. Check your car loan EMI amount, Interest Rate, and tenure with the help of the EIB car loan EMI calculator.
Emirates NBD Car Loan Calculator helps calculate your monthly EMI for your car loan. Check your car loan EMI amount, Interest Rate, and tenure with the help of the Emirates NBD car loan EMI calculator.