The Financing of Final Installment Loan | Bank LoansOn August 14, 2019 by Elliot Carter
The Nissan maxi final installment loan is called “Proposal”. This is a standard solution in this type of loan and is applicable to all model products of the Japanese company, namely Pixo, Micra, Note, Juke, New Qasquay, Murano, GT-R, 370Z Roadster, New Pathfinder, New Navarra, X-Trail, etc. Read http://cgdnews.org for a critique
Features of Proposal
The Nissan Financing Proposal provides for the deferred payment of the car purchased in a 24 or 36-month plan plus a maximum final installment.
The installment and maxi installment values are defined at the time of stipulation of the contract chosen by the customer; the only constraint imposed that the advance must be at least 10% of the total.
The duration, of 24 or 36 months, affects the determination of the Guaranteed Future Value (VFG), or the estimated minimum value of the vehicle at the time the maxi installment is paid.
At maturity, the typical three solutions are envisaged:
- pay the maxi installment (also with additional financing) and keep the car
- return the car without buying another one, paying any difference between VFG and maxi installment
- Make the car and buy a new one, using the difference between VFG and maxi installment as an advance (or at least part of it).
The financing tan is 12%, the maximum is 26%. There are 350 euro opening and handling fees.
Who can apply for Proposal
The requirements for access to financing are the purchase of a new or 0-km vehicle at a Nissan network dealership, the greatest age and the presence of a demonstrable income.
The financial company reserves the right to request additional guarantees such as the presence of the obligator who signs the contract together with the principal, or the guarantee of a bank.
The documents to be produced are those of identity and those that attest to the income (paycheck, pension slip, tax return) of the principal and of any obligators.