With the rise of the interest rates in Lebanon, the auto loans were no exception. This has endured a huge cost on the buyer which has been interpreted on the overall automotive market, putting car buying on hold.
The interest rate on auto loans in Lebanon went up to 8% per year which means 40% additional cost on the price of the car has to be paid by the customer.
Therefore, we did a market visit to get simulations on various brands and the impact of the new interest rate on sales and vehicles’ price.
We found out that some automotive companies like A.N.Boukather are trying to support the potential client to overcome this new barrier. In fact, it turned out that A.N.Boukather’s 0% interest rate on brand new Mazda and Opel vehicles is accurate and not just a marketing trick to attract prospects to their showrooms.
This means, that the customer has to pay only the price of the car and the insurance fees over 60 months, without any additional cost or hidden fee.
In consequences, the 0% interest rate offered, saves huge amount of money for the car buyer. For anyone who wants to benefit from this offer it is valid during the whole month of Ramadan.