Car finance calculator
See what a car could cost per month. Move the sliders to change the down payment and loan term, and compare flat and reducing rates.
- Loan amount
- AED 64,000
- Total interest
- AED 11,200
- Total you pay (incl. down payment)
- AED 91,200
- Equivalent reducing rate
- 6.54% per year
Banks often quote a flat rate. The reducing rate is the true yearly cost — use it to compare offers.
Illustration only — not a loan offer. SOUQAIR does not provide or arrange finance. The actual rate, fees, insurance and approval depend on your bank and your profile.
Flat rate or reducing rate — what is the difference?
A flat rate charges interest on the full loan amount for the whole term, even as you pay it down. A reducing rate charges interest only on what you still owe. A 3.5% flat rate costs about the same as a 6.5% reducing rate over 5 years, so always compare offers using the reducing (yearly) rate.
Your bank may also charge processing fees and require car insurance and life cover. Ask for the total cost before you sign.
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