Car loans without visiting the bank | Ameriabank
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Car Loans Without Visiting the Bank

Get Your New Car Within a Day

Choose your car from Automarket.ameriabank.am, use the loan calculator to learn how much you can apply for, complete the application form directly at the dealership and get your answer within minutes.

This loan product enables you to purchase a car from primary market without visiting the Bank.

  • Get a loan without visiting the Bank
  • Advance payment: from 10%
  • CASCO to be obtained by the Bank
  • No loan provision and service fees

AMD 3 - 20 million

Loan amount

84 months

Term

15.96-15.98%

Actual percentage rate

Find out the amount you can apply for

 Consumer loan for purchase of vehicle on primary market, without visiting the Bank1

Purpose

Purchase of a new vehicle on primary market (car dealers), without visiting the Bank

Eligible age of client/co-borrower/guarantor

18-65, provided that the age of the borrower by the time of expiry of loan agreement will not have exceeded 65

Residency

Citizens and non-citizens of Armenia who are resident in Armenia

Currency

AMD

Minimum and maximum loan limit

AMD 3 million - AMD 20 million

Term (months)

84 months

Nominal annual interest rate, insurance included

Adjustable fixed (rate can be changed starting from the 37th month)

Fixed component 7.4% + variable component (base rate)

https://ameriabank.am/business/sme/financing/support/base-rate

Annual percentage rate, insurance included

15.96-15.98%

Loan disbursement lump-sum fee

N/A

Minimum down payment

 At least 10% of price of vehicle

Repayment

Annuity (equal monthly installments consisting of a portion of loan and a portion of interest)

Eligible security

The loan is secured by the vehicle being purchased.

Loan-to-value (LTV) ratio

90% of the purchase price of the vehicle being purchased

Details of vehicles to be pledged

Car bought from car dealer (not registered)

Appraisal of the collateral

N/A, if the car is bought from car dealer.
Estimated value of the collateral is based on the price specified by the car dealer in the electronic system owned by the bank (purchase price).

Insurance of the collateral

 Insurance for the pledged vehicle to be obtained by the Bank throughout the loan term to the extent of outstanding loan.

Loan formalization venue

Car dealer

Required documents

Required documents filed together with loan application

ID, public services number

Documents required after loan approval

 Marriage certificate (if any) and ID of the spouse, public services number

Certificate of registration of the security interest in the vehicle (provided to the Bank by the Traffic Police of Armenia)

Other documents as required

Early repayment

No early repayment fee

Late payment fines and penalties

The interest rate specified in the loan agreement shall continue to be applied to overdue loans.
Fine in the amount of 0.13 % of overdue loan/interest for each day beyond terms

Other fees payable by client

Fees for registration of rights and interests (purchase and pledging of the vehicle) arising out of the agreements at the state authorized body

Cooperation between car dealer and the bank

Other terms can be defined under cooperation agreements with car dealers, such as interest rate, minimum advance payment and LTV, etc.

1Availability of a cooperation agreement between the Bank and the car dealer is a required condition.                                                                                                                                                                                    

According the Republic of Armenia laws and regulations, if you submit a written application to the Bank requesting us to change the communication method, at your sole discretion, we will have the right to use the modified communication method also during communication within a 30-day period from the time of receipt of your written application. In addition, any changes in the communication method more than once a year may be made with the Bank’s consent in accordance with the internal regulations and tariffs of the Bank.

Attention. The adjustable nominal interest rate may be revised no more than twice a year.

Furthermore, depending on the change of the adjustable nominal interest rate, the threshold above or below which the nominal rate cannot change is ±4%.

Attention. The consumer receives an offer of the agreement and has seven days to make a decision.

Car model Company
Toyota, Lexus "TOYOTA YEREVAN" LLC
Kia "CAPITAL MOTORS" LLC
Nissan "MURAN" LLC
Renualt "MEGNA" LLC
Chevrolet Niva VEKAR" LLC
Opel "MULTI MOTORS" LLC
Ford "FORA" LLC
Mitsubishi "MEGAMOTORS" LLC
Lada "GLOBAL MOTORS" LLC
Mercedes Benz, Volvo "AVANGARD MOTORS" LLC
Audi "SLAV MOTORS" CJSC
Porsche "AUTOHAUS" LLC
Bentley "BENTLEY YEREVAN" LLC
Land Rover, Jaguar "FORA PREMIUM" LLC
BMW, Mini "EUROMOTORS" CJSC
Suzuki "MAGYAR AUTO" LLC
Honda "GRAND MOTORS" LLC
Hyundai "MAGAS INVEST" LLC
Mazda "SKY MOTORS" LLC
Dodge, Alfa Romeo, Chrysler, Fiat,Fiat Professional, Ram, Jeep "FINE CARS OF ARMENIA" LLC
Skoda "CZECH AUTO" LLC

Loan service fees, including fees for modification of the loan terms and substitution of the collateral, are presented at the link below.

Purpose (AMD)
Modification of loan terms and conditions 15,000
Change of real estate pledge (including change of pledge owner) 10,000
Change of vehicle pledge (including change of pledge owner ) 5,000
Provision of pledge-related consent/permissions/references 5,000 (VAT inclusive)
Change of due date 5,000

These fees apply if changes are initiated by the client. Where several fees are payable due to a single change, only the highest of them shall be charged for one time. These fees do not apply to loans secured by cash, bonds and metal accounts. Where a new collateral or guarantor is added due to the change of pledge, the fee is not charged.

In addition, the client will pay for the following services:

  • Fee of the Police of the Republic of Armenia (for lien and pledge of movable property): AMD 5,000 lump sum.

Appraisal of pledge

N/A, if the car is bought from car dealer.

Estimated pledge value is based on the price specified in the reference provided by car dealer to the client.


Insurance of the Collateral

Insurance for the collateral to be obtained on an annual basis throughout the loan term: if by the Bank - to the extent of outstanding loan, if by the client- at least to the extent of outstanding loan.

Required documents filed together with loan application:

  • ID (original), PSN

Documents required after loan approval: 

  • Marriage certificate (if any) and ID of the spouse, PSN
  • Right of pledge certificate for the vehicle (provided to the Bank by the Traffic Police of Armenia)
  • Other documents as the Bank's specialist may request

We will provide you the statements of your credit accounts through communication channels and at frequency agreed between you and us and/or in accordance with the Armenian laws and regulations. The statements are provided by post, email, Internet-Bank or in person at any branch of the Bank. 

Provision of statements, information and copies of documents 

Service

Provision of account statements, copies of account statements or other documents kept in electronic form, backdated up to 1 year

Free

Provision of account statements or copies of account statements backdated more than 1 year or other documents kept in electronic form7

AMD 5,000 per annual statement per account, VAT included

Provision of copies of documents kept in paper or backdated more than 1 year and kept in electronic form

AMD 5,000 per document, VAT included

Provision of references

 

To holders of 3+ months old accounts6

AMD 3,000, VAT included

To holders of less than 3 months old accounts

AMD 5,000, VAT included6

Attention!

THE LOAN INTEREST RATE MAY NOT EXCEED THE DOUBLE OF THE BANK RATE DECLARED BY THE CENTRAL BANK OF ARMENIA.

Attention!

THE PLEDGED PROPERTY MAY BE FORECLOSED IF THE BORROWER FAILS TO REPAY LOAN AMOUNT AND INTEREST IN TIME. IF THE VALUE OF THE COLLATERAL IS INSUFFICIENT, OTHER PROPERTY OF THE BORROWER WILL BE ENFORCED TO REPAY THE BORROWER’S OBLIGATIONS.

Attention!

IF YOU FAIL TO PERFORM YOUR OBLIGATIONS IN A PROPER MANNER, THE LENDER WILL REPORT INFORMATION ABOUT YOUR OVERDUE OBLIGATIONS WITHIN 1-3 BUSINESS DAYS TO THE CREDIT BUREAU WHERE YOUR CREDIT HISTORY IS GENERATED. YOU ARE ENTITLED TO OBTAIN YOUR CREDIT HISTORY FROM THE CREDIT BUREAU ONCE A YEAR, AT NO COST. ATTENTION. BAD CREDIT HISTORY MAY AFFECT YOUR FUTURE ATTEMPTS TO GET A LOAN.

When you repay your overdue debt, the payment will be made in the following order:

  • Fines and penalties
  • Interest
  • Principal

Attention!

Consumers are allowed to cancel the credit agreement at their own discretion, for no particular reason, within 7 business days following its execution unless a shorter period is stipulated therein (cooling-off period). In such cases, consumers are required to pay the interest accrued at the annual percentage rate under the credit agreement. The consumer will not be required to pay any other reimbursement in relation to the cancellation of the credit agreement.

Attention!

LOAN INTEREST IS CALCULATED AT THE NOMINAL INTEREST RATE. THE LATTER SHOWS THE ANNUAL INTEREST ON THE LOAN CALCULATED AS A PERCENTAGE OF THE OUTSTANDING LOAN BALANCE. THE LOAN INTEREST IS ACCRUED TO THE OUTSTANDING LOAN PRINCIPAL IN THE LOAN CURRENCY DAILY, BASED ON A 365-DAY CALENDAR YEAR. 

THE ANNUAL PERCENTAGE RATE SHOWS THE COST OF THE LOAN IN CASE OF DUE AND TIMELY REPAYMENTS UNDER THE AGREEMENT.

Attention!

The amount of interest is calculated based on the annual nominal rate and manner of the loan repayment.

ATTENTION! “YOUR FINANCIAL DATABASE” IS AN ELECTRONIC SYSTEM AIMED AT FACILITATING SEARCHING AND COMPARISON OF THE SERVICES OFFERED TO INDIVIDUALS AND MAKING THE CHOICE EASIER FOR YOU.


Old Terms

Last updated on 16.05.2022, 11:52