Your own car loan
You could be sitting behind the steering wheel of your new car faster than you might have imagined. We have flexible solutions for you, and if you think green we will reward you with our Green Bonus.
- The interest rate is variable, and is set depending on the type of car (new / second-hand) and the size of the down payment (the higher the down payment the lower the interest rate).
- The car loan repayment term depends on the type of car and the level of instalments: lower instalments increase the overall term of the loan compared to higher instalments. A longer repayment period is offered for new cars compared to second-hand cars.
- Loans are provided based on hire purchase terms and conditions. Once the loan is approved, the seller is paid and the car is immediately transferred into your name and that of the Bank of Cyprus. Once the loan is paid off, the car is transferred to your name, after you pay a small token amount to the Bank as the purchase fee.
- To learn more about interest rates and charges click here.
Green Bonus Plan
Our Green Bonus Plan rewards you by offering a specific amount as a gift if you decide to purchase an environmentally-friendly car. The level of that bonus depends on the size of the loan.
The Green Bonus Plan is available if you take out a car loan to purchase a new car in one of the following categories:
- Hybrid vehicles
- Dual propulsion vehicles (i.e. vehicles powered by two energy sources such as natural gas, liquid gas, liquid fuel combined with electricity (also know as Fuel Flexible Vehicles (FFVs).
- Electric vehicles
- Vehicles with lower CO2 emission (=<120 g CO2/km)
||Loan amount in €
||Green Bonus in €
|4 years or more