CAR FINANCING

 

BUYING A USED - NEW CAR WITH BANK PLAN  FROM  (BANK OF CYPRUS)

 

The product is offered to permanent residents of Cyprus only. If you are not a permanent resident of Cyprus for the last 5 years, call in at any of our Bank of Cyprus branches to find out about your options. For more details link to BANK OF CYPRUS PAGE here

  • Option for pricing with fixed or variable interest rate
  • The interest rate is determined by the type of car (new/used) and the customer’s contribution amount. Lower interest rate is offered for a new or used car with higher contribution
  • The duration and customer’s contribution depend on the type of car

      New Car

    • Duration:  up to 7 years
    • Minimum customer’s contribution: 15%

      Used Car

    • Duration: up to 5 years
    • Minimum customer’s contribution: 20%
  • There is no charge in case of early repayment
  • There are no initial Bank charges (unless the Agreement is between individuals)
  • Financing is offered by means of a Hire Purchase Agreement.
    • When your request is approved, the seller is paid and the car is transferred to the Bank of Cyprus and to your name.
    • When the financing amount is paid off, the car is transferred to you after you pay the amount of €50 to the Bank for the right to purchase.

Find out more on our current interest rates here.

Hire Purchase of Equipment and Motorcycle

There are financing options available for the purchase of equipment and motorcycle (new or used). For product details contact any Relaitionship Officer in our branch network.

Warning: The financing is based on a HIRE PURCHASE AGREEMENT.  The Bank reserves the right to reject any application, at its discretion and to withdraw any scheme at any time. 

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