| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
SGBL SOGECAR
|
Minimum Salary: USD 600 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 6 Years | Flat Rate: 3.9% | Reducing Rate: 7.02% |
Do not wait any longer to buy the car of your dreams! Sogecar provides you with a tailor made financing solution that helps you realize this wish.
Features:
Representative example:
If you borrow USD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – USD 297.50 | Total charge for credit – USD 710 | Total amount you repay – USD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
Features:
- Personal contribution: starting 25% of the car's price
- Fixed annual flat interest rate, starting 3.90%
- Flexible repayment duration that can extend from 1 to 6 years
- Minimum loan amount: USD 5,000
Representative example:
If you borrow USD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – USD 297.50 | Total charge for credit – USD 710 | Total amount you repay – USD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** 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.
