Used Car Loan for Business
- Interest rates on loans vary according to the contribution
- Applicable for amounts up to €50,000
- View interest rates
APR is calculated based on the representative example shown below
1 – 7 years
You can choose to repay your loan earlier than your agreed repayment schedule, partially or fully
*In case of early loan repayments, there is the possibility of a prepayment fee. See the relevant formula in our Commissions and Charges table
What securities are requested for a Used Car Loan?
Insurance for the used car
- A processing fee of 1% of the amount of the facility, with a minimum fee of €150, will be charged at the opening of the facility
- Documentation fees of €100 are applicable to all facilities (Micro, SMEs, Corporate)
- For more information about our charges, you can view our Commissions and Charges table
At Ancoria Bank, we want to make sure you have all the information you need at all times. We’ve provided a representative example, that you can use as a guide.
TOTAL AMOUNT PAYABLE
* APR (Annual Percentage Rate) has been calculated on 11/04/2022 and is based on the following:
- Interest Rate: Euribor 6m as at 08/04/2022 was -0.350% but as per the Bank’s pricing policy Euribor interest rates are floored to 0.00%, so calculations have been made based on Euribor 6m at 0.00% + margin 5.12%
- Initial charges: Processing fees of 1% charged on facility amount (€200) and documentation fees of €100
- Loan amount of €20,000
- Loan term of 7 years
Warning: If you fail to meet your loan repayment plan secured by mortgage, your home/property may be repossessed.
Warning: There are charges for early loan repayment (Find out more at the links: Commissions and charges & Prepayment penalty for fixed rate loans).
Warning: In case of variable interest rates, the installment amount and total cost of the facility may increase or decrease depending on variations in the base rate.
Disclaimer: Ancoria Bank Ltd may at its choice, reject an application/business relationship for legal, regulatory or other reasons and withdraw or amend any plan, at any time.
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What you need to have
- Passport or National Identity card
- Original recent utility bill (less than 6 months old) / OR statement of EEA bank / OR local authority tax bill / OR house insurance
- Copy of a valid ID / Passport certiﬁed as a true copy by a state authority
- If you are temporarily residing in Cyprus and are a non-EU national, please supply a copy of your Temporary Residence Permit