With terms going from 12 to 96 months and lower monthly payments versus the traditional consumer loans, the Used Cars Loan allows you to take advantage of a business opportunity you may eventually have to purchase or change cars.
Fees and Commission
Loan amount: € 12,000;
Sale Price: € 15,000;
Term: 72 months;
Initial Expenses: € 240.00 (including stamp tax at the rate in effect);
Monthly instalment in the first 12 months: € 202.61
Monthly payment in the remaining term: € 207,69
Nominal Annual Rate: 6.000% in the first 12 months and 7.000% for the remaining term, for a Client with an Integrated Solution of Bank Products and Services Cliente Frequente.
TAEG (annual effective interest rate): 9.9%
Rate defined the moment the loan is approved, depending on the Customer's risk profile and operation. Credit opening stamp tax (amounting to € 288.00), for a loan amounting to € 12,000.00 in total. The total amount charged to the Client is of € 15,636.24.
The effective granting of the credit operations herein presented depends on the prior appraisal and decision on the credit risk and on the eventual provision of valid collaterals required by the Bank.
Credit is granted subject to Banco de Portugal's macro-prudential rules.
Please see our to get more information on the Used Cars Credit.
Used passenger or cargo vehicles (with 7 years or less).
From 12 to 96 months (less the age of the vehicle).
Up to 80% of the lesser of the following amounts: sale amount (PVP) / Eurotax value.
Car insurance with the minimum mandatory covers.
The vehicle is owned by the Customer.
Subject to stamp tax on the amount of credit used and interests charged.
This information does not dispense with the reading of the legally required pre-contractual and contractual information.
How to apply
For further information on Crédito Auto Usados, visit any Millennium bcp branch or call 707 50 24 24 (24/7 Personalised Attendance).
Before requesting any credit, you should:
- Assess the need for the expense you will incur.
- Consider the amount of the instalment of the new credit, together with the monthly income and expenses of your household and be sure that this new monthly payment will not compromise your budget.
- Get all the information you deem relevant for making an informed decision before signing the contract.
- Read the contract carefully and pay attention to the specific conditions of the loan, namely the amount, term, instalments and rates.
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