Citizens Auto Loan
Financing to purchase of new/used Private and Commercial Vehicles to individuals and business concern.
Financing to purchase of new/used Private and Commercial Vehicles to individuals and business concern.
Last Updated Date: May 17, 2022
For economic growth and development of New Nepal, Citizen Bank International Limited believes in the liberalization, privatization and globalization. In the banking sector, Citizen Bank International Limited is one of the largest commercial banks. This bank is promoted by eminent personalities or business and industrial houses and reputed individuals. Citizen Bank International Limited is managed by the team of experienced bankers and professionals. This bank is moving forward in the banking sector with the vision of being the leading bank known for its excellence services. Citizen Bank International Limited is fully dedicated to meeting the financial needs of the customer and exceeds the customer satisfaction through innovative solutions. By promising to deliver the customer centered products this bank wants to be the trustworthy partner for the progress of individuals and institutions by giving excellent services. Founded on 20 April 2007 (2064/01/07) as the nation's 20th commercial bank, 'Citizens Bank International Limited' has its corporate headquarters in Narayanhiti Road, Kathmandu, at the heart of the country's financial sector. It has been managed by a team of seasoned bankers and professionals and is promoted by eminent celebrities, corporate and industrial houses and reputed individuals with a high social standing. All over the world, there are 110 branches and 99 ATMs.
Required documents for Auto Loan
An Auto Loan is taken by borrowers to purchase a new or used private or commercial vehicle. Auto loans are secured loans where the vehicle itself is used as collateral. It is offered by lenders for new cars, used cars, two-wheeler (generally called a Two-wheeler Loan), and commercial vehicles (generally called a Commercial Vehicle Loan). Auto loans can be used to purchase either new or used vehicles. The term of an auto loan typically ranges from 24 months to 60 months, though longer loans with 72 or 84 months are becoming increasingly common. Most lenders limit the term lengths to 48 or 60 months for older car purchases, as used cars are riskier to finance. This is because car value generally declines over time, unlike home value. Accordingly, if the car being financed is also used as collateral, lenders need to make sure that it will be worth enough to cover their losses if the borrower defaults. Because of the rapid depreciation of car value, shorter loan terms and larger down payments are most advisable for auto loans.
An auto loan with a low monthly payment might look like a good option, but that can actually cost you significantly more over time. And the loans you’ll be offered will also vary depending on different factors, like your income source, valuation of property with unstable sources can make it harder to get the best loan offers. Here are things to look for and steps to take if you want to save money on your car loan:
Rumsan is a diversified multi-business company. We are committed to supporting promising start-ups and investing in digital innovation.
