🚗 Car Loan Calculator
Calculate monthly payment and total cost of car ownership
Financing Details
Important Information
Tips for Car Financing:
- Down Payment: Higher down payment = lower monthly payment
- Loan Term: Shorter term saves on interest
- Insurance: Comprehensive insurance required for financing
- Trade-in: Your old car's value reduces financing amount
- Compare Offers: Rates vary significantly between banks
Conventional vs Islamic Financing:
- Conventional: Reducing interest - decreases with payment
- Islamic: Fixed profit for entire term
Car Depreciation in Saudi Market:
- First year: ~15%
- Years 2-5: ~10% annually
- After 5 years: Approximately 55% of original value