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21.08.09
Absolut Bank Launched a New Car Loans Program
Absolut Bank started a new program “A Deferred Payment Car Loan”. According to the program up to 1/3 of the loan amount may be repaid at the end of the term. This peculiarity enables the client to buy a more expensive car, for the monthly payment will be much less than in case of a traditional loan. Along with that, early loan repayment – either full or partial – is not restricted. The loan is granted in rubles for a term of up to 3 years, the amount varying from 300 ths to 1.5 million rubles to cover up to 60% of the price of automobile.
Let us remind that earlier Absolut Bank essentially improved the terms of car loans granting. Now, a car loan is drawn for a term of up to 5 years at interest of 15% per annum and more. Terms of the new program cover both new and used automobiles of foreign manufacture, including those assembled in Russia.
Oleg Skvortsov, Deputy Head of the Absolut Bank Management Board, says, “Our program allows the borrower to regularly change cars. The last payment, which is the largest of all, can be made after the car has been sold, while the remaining amount can be used to form initial installment for a new car purchase”.
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