Mortgage loan from 500 to 35.000 dollars without down payment . The repayment term is from 3 months to 6 years.
A car loan is used to buy a used car or get cash against a car collateral . Compared to car leasing, car loan is also available without down payment and GFIC insurance.
The most popular type of car loan is the loan against car collateral. The amount of a car loan is determined by the market value of the car. If a car valuation is required, such a service will cost an average of 20 to 50 dollars at a certified valuer.
Get a car loan fast and profitable!
To apply for a car loan, you must be at least 18 years of age with a valid Latvian citizen or non-citizen passport and permanent employment.
It is possible to get a car loan in one working day on average. You need to choose a credit company and fill out an application. If yes, sign the contract, transfer the money to the customer’s or seller’s bank account.
When applying for a car loan you have to take into account the additional expenses, the commission for drawing up the contract and, if necessary, purchase a GFIC policy.
ANNUAL INTEREST RATE
The annual percentage rate of charge, or GPL, is the total cost of the auto loan, expressed as a percentage, excluding the costs of defaulting on the contract. More information is available in the Special Provisions of the Cabinet of Ministers of the Republic of Latvia “Consumer Credit Regulations” or on the website of the respective credit company.
Example: Credit amount: $ 5,000, Commission fee: $ 250, Monthly payment: $ 119.76, Maturity: 6 years, GPL 24.54%. The total amount to be paid is $ 8872.72
PENALTIES OR PENALTIES
In the event of late payment of the loan, the credit company may charge you a penalty for the total amount of overdue payments for each day of delay. In addition to the penalty fee, you may be charged for the reminder letter and / or a one-off penalty.
Failure to make payments can cause serious problems and affect your credit history, so if you have trouble repaying, contact your credit company.
WHAT IT’S ABOUT Good Finance
If you are between 18 and 75 and want to buy a car loan : use car loan comparison.
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Remember that in case of late payments the credit company is entitled to a penalty interest. Borrow responsibly! Borrow money only if you are confident that you will be able to repay it on time. Overdue credit loans can ruin your credit history and can make it difficult to borrow new credit or companies can offer loans on unfavorable terms.
CALCULATION OF ANNUAL INTEREST RATES – EXAMPLES
The annual percentage rate of charge or APRC is the total cost of the loan expressed as a percentage, including all costs up to the date of receipt of the loan, calculated in accordance with the Cabinet of Ministers Regulation of the Republic of Latvia on 28.12.2010. Regulation No. 1219. GPL does not include any charges payable for defaulting on a credit agreement. More information is available in the Special Provisions of the Cabinet of Ministers of the Republic of Latvia “Consumer Credit Regulations” or on the Lender’s Website.
Example: When borrowing $ 300 for 90 days with a credit extension, the commission is $ 71.41, the APR is 269%, the total repayment is $ 371.41.
The minimum APR is 8.9% and the maximum APR is 429.46%. Loans from $ 50 to $ 15,000 for a period of 61 days to 72 months.