Buying cars on credit in Azerbaijan is possible at accessible rates
Azerbaijan, Baku, June 8 / Trend , N. Ismaylova /
Buying cars on credit, provided by Azerbaijani banks, has become more accessible, and the loan conditions remained at the previous acceptable level, the representatives of leading car manufacturers in Azerbaijan said.
Subaru car shop co-operates with Bank Respublika. The Bank provides loans for car purchase with an initial payment of 30 percent for a period of five years at 22 percent interest rate annually. Under initial payment of 40 percent, the bank provides credit at 21 percent annually, but with under initial payment of 50 percent at 19 percent annually. Subaru has also begun to provide leased cars with initial payment of 15 percent at 19 percent annually for a period of four years.
Audi and Volkswagen car shops said that they co-operate with two banks - Bank Standard and the International Bank of Azerbaijan on the following conditions: an initial payment of 30 percent, 18 percent per annum, which is two percent less than the previous rate, for a period of three years.
The Hyundai car shop said that the shop, formerly cooperating with the International Bank of Azerbaijan, is now cooperating with the Bank of Baku, and the initial loan fee is 25 percent annually at 20 percent for a period of three years.
Nissan and Ford car shops sell cars on credit provided by NBC Bank on the following conditions: initial payment of 20 percent at 23 percent interest rate per annum for a period of five years. Under initial payment of 50 percent, the client shall be exempt from annual interest payments for two years.
Toyota car shop said that it now sells cars on credit provided by Azerdemiryol Bank. Currently, they sell cars on credit at an annual rate of 23 percent, with an initial payment of 20 percent for a period of three years.
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