Amount of prepayment of loan for purchase of hybrid cars and electric vehicles made public

04.08.2022,17:25


August 4, Fineko/abc.az. The initial payment for the purchase of hybrid cars and electric vehicles will be applied at low rates. So, when buying a car with an electric motor on credit, the initial payment will be 10%, and when buying a car with a hybrid engine – 20%.

The innovation was reflected in the Rule on prudential standards & requirements related to credit risks, including large credit risks, approved by CBA’s chairman Taleh Kazimov, ABC.AZ reports.

This innovation covers electric vehicles with production period of up to 3 years and hybrid cars up to 1 year.

The initial payment is set at 40% if the production period of an electric vehicle exceeds 3 years, and hybrid cars – up to 3 years. In hybrid cars with production period of more than 3 years, the initial payment is provided in the amount of 50% of the loan.

According to this rule, the initial payment for new cars running on traditional fuel is kept at the level of 40%.