Azerbaijan, Baku, Oct. 3 /Trend, N.Ismayilova/
The terms for issuing car loans have been softened in Azerbaijan, the offices of leading car manufacturers in Azerbaijan told Trend on Monday. According to information, the partner banks have reduced the initial fees and interest rates, as a result of which, the terms of car loans have become more lenient.
Subaru car show is currently cooperating with Bank Respublika, and buying a car on credit is possible with an initial payment of 10 percent at an annual rate of 14 percent for five years.
Previously, the minimum initial payment was 20 percent, and annual interest rate - 17 percent.
Toyota car show said the cars on credit are sold via Amrah Vank. Loans are granted for up to five years with an initial payment of 20 percent and 18 percent per annum. Previously, the minimum initial payment was 10 percent and annual interest rate - 21 percent.
KIA car show sells car on loans through Unibank and Bank Respublika. Minimum terms of loan are as follows: initial payment - 15 percent, the loan is provided for a period of one to five years at an annual rate of 17-18 percent.
Mazda car show is also cooperating with Bank Respublika, and buying a car on loan in this salon is possible with an initial payment of 20 percent at an annual rate of 14 percent to 16 percent for up to five years.
Hyundai car show is selling cars on credit through the Bank of Baku and Unibank with an initial payment of 15 percent at an annual rate of 20 percent for a period of five years.