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Bank Audi New Car Loan
Buying A New Car Is Faster Than You Think
Whether you want a brand-new sports car, an SUV or a simple daily driver, we’ve got all the solutions to meet your needs and budget.
WHAT DO I NEED?
- Copy of ID
- Driving License
- Proof of Income
- Proof of Residence
The Car Loan’s amount including the insurance premium cannot exceed 75% of the validated car’s price.
- Currency: USD
- Minimum Down Payment: Starting at 25%
- Interest Rate: 7%
- Loan Period: Up to 5 years
- Car Model: 2018 and 2019
- Car Insurance:
- All Risk Regular Insurance
- All Risk VIP Insurance
- (USD 0 franchise available for all cars)
- Obligatory Insurance: Free for the 1st year only
What is the Annual Percentage Rate (APR)?
The Annual Percentage Rate also known as APR describes the annual rate applied on a loan for the whole period.
APR calculation includes, other than the monthly payments, all mandatory fees that clients need to pay such as the file fees, stamp fees and life insurance fees.
APR calculation excludes the late payment fees and early settlement fees.
What are the fees that are calculated in the APR for the Car Loan?
GENERIC NEW CAR LOAN:
Example of the APR calculation for the Car Loan:
Car status: New
CAR PRICE DOWN PAYMENT PERIOD (YEARS) RATE APR
USD 40,000 USD 15,000 5 7% 14.83%
(Including insurance fees)