|Minimum Salary||Salary Transfer||Early Settlement Fees||Maximum Term||Flat Rate||Reducing Rate|
|Bank Audi Used Cars Loan||Minimum Salary: USD 530||Salary Transfer: Yes||Early Settlement Fees: -||Maximum Term: 5 Years||Flat Rate: 3.61%||Reducing Rate: 6.5%|
Choose the used car of your choice and enjoy a convenient and hassle-free installment plan.
- Currency: USD
- Minimum Down Payment: Starting at 25%
- Loan Period: Up to 5 years
- Obligatory Insurance: Included in the loan and free for the 1st year only
- Life Insurance: Included in the loan
- Copy of ID
- Driving License
- Proof of Income
- Proof of Residence
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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.