Oschadbank is the first in the market to launch special lending terms for the Select automotive segment, available through authorized dealers

Oschadbank has launched the Select Finance program – lending for used cars sold by authorized dealers in Ukraine.

The program offers more favorable financing terms compared to conventional used car loans and applies to vehicles with low mileage that have a verified service history and are covered by the manufacturer’s warranty.

A vehicle purchased under the program must meet the following requirements:

• it must be less than 3 years old from the date of initial purchase;
• mileage – up to 50,000 km;
• valid manufacturer’s warranty;
• no more than one previous owner.

Oschadbank offers flexible financing terms:

• interest rate - 0.01% to 11% per annum (depending on the loan term and down payment);
• down payment – at least 30% of the car’s value;
• loan term – up to 5 years;
• one-time commission fee – 0 to 3% of the loan amount;
• repayment plan – classic or annuity;
• option to include the cost of comprehensive insurance for the first year in the loan amount.

“We have focused on the segment of used cars sold by official dealers and covered by a manufacturer’s warranty. This gives customers the opportunity to get a reliable car at a more affordable price than a new one. Today, the used car loan segment accounts for only about 6% of the secured car loan market. However, it has become the driving force behind growth: over the past year, the number of such loans has nearly doubled. Therefore, we believe there is significant potential for further expansion of our presence in this segment,” said Dmytro Bashtovyi, Director of Partner Relations Department of Oschadbank.