Loans | Drive your Dream Auto Loan | Types of Auto Loan Transactions
| Types of Auto Loan Transactions |
|
|
|
| 1. |
Brand New |
|
|
|
|
a. |
One stop loan shop |
|
|
Facility whereby the bank not only finances the purchase of a brand new vehicle but also assists the client source the vehicle of his/her choice |
|
|
|
|
b. |
Reimbursement |
|
|
Financing of a brand new vehicle purchased in cash by client within 30 days. |
|
|
|
| 2. |
Second hand |
|
|
|
|
Financing of acceptable second hand motor vehicles. Proceeds of loan are paid directly to seller / owner of the unit. Subject to car appraisal and car history. |
|
|
|
| 3. |
Multi-purpose loan |
|
|
|
|
a. |
Cash loan where offered collateral is their existing unencumbered vehicle. |
|
|
|
|
b. |
Refinancing of an existing account (with BFB) with a remaining term of 20% of the original term. |
|
|
|
|
c. |
Subject to car appraisal and car history. |
|
|
|
|
