The FINANCIAL — Starting from February 4, Bank Republic together with Hyundai Auto Georgia will be offering unprecedented auto loans in cooperation with Imedi L’s 20% discount insurance package.
The FINANCIAL — Starting from February 4, Bank Republic together with Hyundai Auto Georgia will be offering unprecedented auto loans in cooperation with Imedi L’s 20% discount insurance package.
This campaign will last till April 1.
The maximum duration of the loan will be 5 years, and the interest rate will start from 0%. The client will be eligible for 0% interest loan only if the down payment amount and maturity are properly selected that is, in case of 11-month maturity and 30% down payment.
However, any combination is really beneficial since a 1-year instalment will bear the lowest – 4% only, 2 year instalment – 9%, and long-term instalment – 12%, the highest.
“As we’ve seen increasing demand on the Georgian automobile market during the last couple of months, together with our strategic partner Hyundai Auto Georgia, we started a new campaign which currently is unprecedented on the Georgian auto loans’ market,” said Giga Suladze, Head of the Strategic Marketing and Product Development Division at Bank Republic.
“As we’ve noticed throughout our auto loan making experience, 40% of our clients purchase cars with 0% interest hereby taking down payment of 40% right at the purchasing moment, so we hope this trend will continue during this campaign also,” noted Suladze.
“Auto buyers have become active in the purchasing of new cars, accordingly we’ll be exploiting that opportunity by offering low interest rate loans with the best preference conditions for our customers,” said Suladze.
“Any person willing to purchase cars at Hyundai Auto will be given several preferences. If the person wants to take loans with 0% instalment then down payment will amount to 40% of the car value. A two year loan will be disbursed for a maximum 9% and over 2 years customers have to pay a maximum of 12%,’’ Suladze told The FINANCIAL.
“In addition to such preferences Bank Republic in cooperation with Imedi L will be having 20% on an auto insurance package. Apart from all those benefits, there’ll also be discount cards from Euro-technics, Smile and Magelani,” said Suladze.
“Auto loans with the abovementioned preferences will be disbursed notwithstanding the price of the automobile although we have to make sure that the person has enough income to take the loan.
Substituting old cars with new ones and covering the difference through Bank Republic, unfortunately won’t be available for this campaign, although in the near future we’re going to offer such loans also,” noted Suladze.
“Bank Republic’s partner companies are also offering special preferences within the campaign: Insurance Company Imedi L will offer a 20% discount on its vehicle insurance package. However the buyer is obliged to take insurance when he s/he purchases the car.
We’ll also be active with other campaigns throughout the year in 2011,” Suladze told The FINANCIAL.
As Lasha Nikoladze, Deputy Director of Imedi L says, full insurance package will be given with a 20% discount exclusively for this campaign.
“Bank Republic has rightly responded to the post crisis situation in Georgia, that’s to offer auto loans with various preferences. Thereby we’ve also decided to join this initiative and offer a 20% discount on our full auto insurance package,” said Nikoladze.
“During this campaign, the insurance package, which is obligatory for the buyer to take, will cost 4.4% during the first year. It’ll be the full package covering all the costs that might occur after the purchase of a car,’’ noted Nikoladze.
“Imedi L as a partner of Bank Republic, offered insurance packages even 2 years ago, and will continue to do so in the future,” Nikoladze told The FINANCIAL.
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