Azerbaijan, Baku, June 27 /Trend, N.Ismayilova/
In Azerbaijan, the terms of the car loans remain stable, the Azerbaijani representations of leading car manufacturers said. Previously, the partner banks eased the loan conditions, the terms and interest rates were revised, as a result of which the terms of loans have become more easy.
The BMW car dealer continues to sell cars on credit through the BTB Bank with an initial payment of 30 percent at 15 percent per annum with a period of one year and 17 percent with a loan for three years.
KIA car dealer sells cars on credit through Unibank and Bank Respublika. Terms of the loan are as follows: with an initial payment of 15 percent, the loan is provided for a period of one to five years at an annual rate of 17-18 percent.
Mazda car dealer said it co-operates with Bank Respublika and buying a car on credit is possible with an initial payment of 20 percent at an annual rate of 15 percent for up to three years. When buying a car for five years, the initial payment is 40 percent, while the annual rate is 14 percent.
Subaru car dealer cooperates with Bank Respublika, and buying a car on credit is possible with an initial payment of 30 percent at an annual rate of 14 to 15 percent for up to five years.
Toyota car dealer sells cars on credit through Amrah Bank. Loans are granted for up to five years with an initial payment of 10 percent and the rate of 21 percent per annum.
Hyundai car dealer sells cars on credit through the Bank of Baku and Unibank with an initial payment of 15 percent at an annual rate of 19 percent for three years. When buying a car on credit for five years, the initial payment is 20 percent, while the annual rate is 21 percent.