Azerbaijan, Baku, Nov. 1 / Trend N.Ismayilova /
Lower interest rates on car loans will continue in Azerbaijan, the representatives of leading car manufacturers told Trend in Baku today.
The Subaru sales center told Trend that it cooperates with Bank Respublika and ZaminBank, and buying a car on credit is possible with an initial payment of 30 percent under an annual rate of 20 percent for five years, compared to an annual rate of 21 percent earlier. The center also cooperates with AccessBank, which provides credit for three years with an initial payment of 10 percent under a 26-percent interest rate.
Hyundai sells cars on credit through the Bank of Baku and Unibank with an initial payment of 15 percent under 17 percent annually. When the loan is provided for five years, the initial payment totals 20 percent, with an annual interest rate of 21 percent.
Nissan and Ford sell their cars on credit through the NBC Bank on the following conditions. Nissan sells its vehicles if the loan is provided for a period of five years, with an initial payment of 19 percent and an annual interest rate of 20 percent. When the loan is provided for one year, the initial payment is 15 percent and the annual interest rate is 20 percent. Ford sells its vehicles if the loan is provided for a period of five years, with an initial payment of 25 percent and an annual interest rate of 19 percent. When the loan is provided for a period of from one year to four years, the initial payment is 20 percent, with an annual interest rate of 19 percent.
Toyota sells cars on credit through Amrah Bank. The credits are valid for three years with an initial payment of 20 percent and 21 percent per annum. When the initial payment totals 50 percent, the annual interest rate is 18 percent.
Audi sells cars on credit through Kapital Bank. When the loan is provided for a period of four years, the initial payment is 20 percent, with an annual interest rate of 19 percent. Previously, loans were provided under the same conditions through Yapi Kredi Azerbaijan.
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