YEREVAN, September 6. /ARKA/. VTB Bank (Armenia), together with the official representatives of Mazda and Suzuki cars in Armenia - Sky Motors LLC and Magar Auto LLC respectively- has announced today a new car loan program, saying ‘customers can purchase new Mazda and Suzuki vehicles on improved lending terms through a very simplified procedure.’
According to VTB Bank (Armenia), car loans are provided with an advance payment of only 10%, at an interest rate of 13.5 - 14.5% per annum (effective interest rate is 16% - 18.8%). The minimum loan amount is 1 million drams and the maximum amount is 28 million drams.
When applying for a loan for the purchase of a car, the client receives CASCO insurance from VTB Bank (Armenia) for the entire loan repayment period.
No commission is charged for the consideration of the application (there are other commissions for issuing and servicing the loan).
Buying a car on credit within the framework of cooperation between the Bank and the car dealership is simple, convenient with a quick decision on a loan. Clients can apply for a car loan directly at the car dealership without visiting a Bank's branch. The decision to issue a loan is made in a few hours, the Bank said.
The car sale and purchase transaction is carried out within the framework of a single customer visit to the car dealership, directly between the car dealership and the client.
“With many years of experience in the car lending market and based on the demand for the product, VTB Bank (Armenia) continues to develop cost-effective and most attractive offers for customers, thereby ensuring the availability of the desired car and comfort in service,” the message says.
Detailed information on the terms of the product can be obtained on the official website of VTB Bank (Armenia) here, at its branches or by calling the Contact Center at 87-87, as well as by visiting the official websites of Mazda and Suzuki or by calling the phone number (+374) 11 -71-17-11.
The activities of VTB Bank (Armenia) CJSC are regulated by the Central Bank of the Republic of Armenia. ($1 - 493.65 drams) -0-