I recently took a loan fr a car and they also want to know how many dependents you have and how much house rent you are paying. The final amount what they consider for sanctioning loan is a percentage of the NET amount which you may have after you have spent the amount from your salary which you MUST spend.
due to centeral bank of qatar , monthly instalment must not exced 50% of the total monthly salary of any one want any loan from banks , car loans must be based on income 9 salaries for employee or income for self employee )
i think it will based on your capability to repay the loan.
i know that some banks calculation take 30% of your salary for pre-qualification. E.g if your salary is 10k, the bank will "allow" you to borrow max 3k. So if you are buying a car, the monthly instalment cannot be more than 3k. But if you have other loan, e,g personal loan with monthly instalment of say 1k, the the amount available for your car loan would reduce to 2k only.
They will also look at your credit report for the history of your payment patterns.
Interest rate would be lower for new cars. If you are buying second hand, you may want to consider personal loan as it could be cheaper than car loan (in total).But again, the prerequisites would be similar.
Qatar's winter months are brimming with unmissable experiences, from the AFC Asian Cup 2023 to the World Aquatics Championships Doha 2024 and a variety of outdoor adventures and cultural delights.
Fasten your seatbelts and get ready for a sweet escape into the world of budget-friendly Mango Sticky Rice that's sure to satisfy both your cravings and your budget!
Celebrate World Vegan Day with our list of vegan food outlets offering an array of delectable options, spanning from colorful salads to savory shawarma and indulgent desserts.
Sorry to intrude on the topic......
Can anybody let me know as to what wud be the rate of intrest charged by the banks on Used Cars & New ones... Thanks in adv
What happened to that Lebanses boy from last week who owed his company so much money and new on that.
Sorry for posting this here but would be good to know.
I recently took a loan fr a car and they also want to know how many dependents you have and how much house rent you are paying. The final amount what they consider for sanctioning loan is a percentage of the NET amount which you may have after you have spent the amount from your salary which you MUST spend.
due to centeral bank of qatar , monthly instalment must not exced 50% of the total monthly salary of any one want any loan from banks , car loans must be based on income 9 salaries for employee or income for self employee )
i think it will based on your capability to repay the loan.
i know that some banks calculation take 30% of your salary for pre-qualification. E.g if your salary is 10k, the bank will "allow" you to borrow max 3k. So if you are buying a car, the monthly instalment cannot be more than 3k. But if you have other loan, e,g personal loan with monthly instalment of say 1k, the the amount available for your car loan would reduce to 2k only.
They will also look at your credit report for the history of your payment patterns.
Interest rate would be lower for new cars. If you are buying second hand, you may want to consider personal loan as it could be cheaper than car loan (in total).But again, the prerequisites would be similar.