Azerbaijan, Baku, August 24 /Trend, N.Ismayilova/
The conditions for providing loans to buy cars remain stable in Azerbaijan, said Azerbaijani representations of leading car manufacturers. Automobile sales centers continue to increase the number of partner banks, due to which the interest rates on loans for buying a car have become more flexible.
The BMW sales center said it sells cars on credit through the BTB Bank with an initial payment of 30 percent under 15 percent annual rate for a year and 19 percent for five years.
KIA sales center sells cars on credit through Unibank, Bank of Baku and the International Bank of Azerbaijan under the following conditions: an initial payment of 20 percent, with a loan term of five years, the annual interest rate - 18 percent, and for one year - 17 percent.
Opel sales center said it co-operates with Naxchivan Bank, and buying a car on credit is possible with an initial payment of 30 percent with an annual rate of 19 percent for three years.
Mazda sales center said it co-operates with Bank Respublika, and buying a car on credit is possible with an initial payment of 30 percent at an annual rate of 21 percent for five years. The center also cooperates with Demir Bank, which provides loans for five years with an initial payment of 20 percent under 20 percent interest rate, when buying on credit for a year - payment totals 18 percent.
The Subaru sales center said it co-operates with Bank Respublika, and buying a car on credit is possible with an initial payment of 30 percent under annual rate of 21 percent for five years, with 20 percent payment - under 18 percent interest for three years. The center also cooperates with AccessBank, which provides credit for a period of three years with an initial payment of 10 percent under 26 percent interest rate.
Hyundai sells cars on credit through the Bank of Baku and Unibank with an initial payment of 20 percent under 20 percent annually. Credit is valid for three years.
Nissan and Ford sell cars on credit through the NBC Bank on the following conditions: if the loan is provided for a period of five years, initial payment makes up 20 percent with annual interest rate of 19 percent and an initial payment of 50 percent - 18 percent. When the loan is provided for a year, initial payment totals 20 percent, and annual interest rate - 15 percent.
Toyota sales cars on credit through Amrah Bank. Credits are valid for three years with an initial payment of 20 percent with 21 percent per annum.