Rules of getting a car loan

1. Choose the desired model of car in the "HYUNDAI AUTO AZERBAIJAN" center of car sale.
2. Pay at least 40% of the car's price in the center by cash.
3. Get the appropriate document from the seller ("HYUNDAI AUTO AZERBAIJAN") for submitting it to the Bank.
4. Apply to the Bank with this document, and submit your passport with the registration in Baku.
5. A loan account is opened in the Bank by the name of the buyer (price for opening an account - $25 US (in cash))
6. An agreement is being written for issuing a loan. The car sold is considered a mortgage (the mortgage is validated in the SAI).
7. The mortgage must be insured by the buyer in the amount of 3,0% from the car's price (in the Insurance Company pointed by the Bank) for 1-year period;
   4,5% for 2-year period;
   and 5,1% for 3-year period.
8. The loan is issued for paying the rest amount of the car's price.
9. The loan must be repaid within 6-36 months (as the buyer wishes) with at least 22% per year from depreciated cost of loan.
10. The buyer is given a graph of loan repayment, which must be fulfilled in time.
11. In case of breach of contract the Bank in legal form becomes an owner of mortgaged car and sells through auction. The initial installment not returns to buyer.

In order to calculate your credit, you have to download the Microsoft Excel file to your computer and open it in this programm. Loan Calculator download >>