Guarantees and Conditions
- You must be Lebanese, residing in Lebanon
- You must be between 21 and 68 years old at loan maturity
- You must have a minimum monthly income of 800 USD or its equivalent in LBP
- The monthly repayment should not exceed 35% of the monthly income for employees and 45% for self-employed individuals
- First degree mortgage on the car in favor of BBAC
- All-risk insurance policy on the car
- Life insurance policy covering death with The Capital Insurance and Reinsurance Co. or with another insurance company acceptable to BBAC
- Additional guarantees such as salary domiciliation and personal guarantee on a case by case.
- New cars: Between 3.5% and 4.25% for USD
- Used cars: Between 5.9% and 6.5% for USD
** 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.