|Minimum Salary||Salary Transfer||Early Settlement Fees||Maximum Term||Flat Rate||Reducing Rate|
|SGBJ - Sogecar||Minimum Salary: JOD 300||Salary Transfer: Yes||Early Settlement Fees: -||Maximum Term: 7 Years||Flat Rate: 5.6%||Reducing Rate: 10.08%|
Don’t wish for it. Own it!Are you bored of your old car, tired of public transportation or have a dream car in mind? Don’t wait any longer! Buy the car of your choice with our car loan Sogecar, and enjoy the simplicity of payment.
The perfect financing plan for your new or pre-owned car
- Loan amount ranges from JOD 2,000 to JOD 60,000
- Financing up to 90% of the car price
- Flexible repayment period up to 84 months or 7 years
- Degressive interest rate
- Free life insurance throughout the loan’s duration
- Every individual, of more than 21 years of age, with a stable income and 1 year of experience in the same business field, is eligible for Sogecar.
- It is possible to register the car in the name of another person provided that he is the loan’s guarantor.
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.