Car Loan payment - Need help with calculation.

By shake2000 •

Hi All,

I will be moving to Doha in the next couple of months and am trying to understand if car loan payment works the same way as here or differently.

Trying to understand, what is the usual bank rate for a 2nd hand car and assuming I take out 110,000 QR, what would my monthly payment be? Also, how much is insurance??

Using calculator such as comemercial bank with 8% interest rat for 110,000 the total comes to about 2,650 per month. Does this sound accurate or am I missing something? I am not how interest is applied to car loans.

Thank you for confirming.

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2 comments Sort by rating

By rb73• 22 Jun 2014 10:29

I suggest you to wait until you reach Qatar and then discuss face to face with the banker. Banks keep changing (Slightly) their loan and interest policies. BTW, will this prevent you to make your decision to switch to Qatar?

By Equin0x• 22 Jun 2014 10:14

Rating: 4/5

Flat interest rate is used for car loans and perhaps you are close to the exact calculation. You can get a new car for that amount of funds.

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Car Loan payment - Need help with calculation.

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