Cheaper rate on loans for second-hand vehicles up to three years old
KBC reduces rate on loans for purchases of recent used cars
Monday, May 29, 2017 — Clients of KBC, CBC and KBC Brussels who buy a second-hand car that's not yet three years old can now benefit from the lower rate that KBC already charges on loans* for buying new vehicles and second-hand vehicles up to two years old.
What does this change for clients of KBC, CBC and KBC Brussels?
Clients who take out a loan with KBC, CBC or KBC Brussels for the purchase of a new vehicle or a second-hand vehicle up to two years old currently pay a loan interest rate of 1.35%.** For purchases of second-hand cars that are older than three years, the credit rate is up till now 3.68%.***
To make it easy for KBC clients to go into the market and find the second-hand vehicles that they want up to three years old, from 29 May KBC will charge the same beneficial rate as for purchases of new and second-hand vehicles up to three years old, i.e. 1.35%. !
*Remember, borrowing money also costs money.
Loan type: instalment loan Lender: KBC Bank NV, Havenlaan 2, 1080 Brussels, VAT BE 0462.920.226, RLP Brussels, FSMA 026256 A. Subject to your loan application being approved by KBC Bank NV and mutual agreement.
** Representative example:
For an instalment loan of 10 500 euros to be repaid over 60 months at a fixed annual percentage rate of charge and fixed actuarial debit interest rate of 1.35%, you pay 60 monthly instalments of 181.07 euros (or 10.864.26 euros in total).
Rate applies from 19 January 2017 for an instalment loan to finance a new car, motor home or motorcycle or second-hand car not more than two years old. The vehicle must be bought by a private individual.
*** Representative example:
For an instalment loan of 10 500 euros to be repaid over 60 months at a fixed annual percentage rate of charge and fixed actuarial debit interest rate of 3.68%, you pay 60 monthly instalments of 191.58 euros (or 11.494.50 euros in total).
Rate applies from 3 May 2017 for an instalment loan to finance a second-hand private car over two years old purchased by a private individual.