Immediate Car Loan

It is a loan that can be taken out easily through bbva.es, and permits you to obtain financing of up to 100% for the purchase of your new or used car:

• A car, a four-wheel drive or a minivan.
• A van or commercial vehicle up to 3,500 Kg maximum weight authorized.

• New vehicle: under three years old (36 months).
• Used vehicle: over three years old (36 months).

• Interest rate: The NIR and the APR of the loan are those shown on the screen with the loan details. 
  
• Amount: the minimum you can request is €1,500. The maximum amount is assigned on an individual basis for each client. This can be seen on the screen with the loan details. 
  If you need a larger amount, you can complete a loan application form in the "Mortgages and Loans" section of bbva.es, and you will receive the reply online. 
  
• Term: you will find it on the screen with the loan details.
• Opening fee: you can consult the amount on the contracting screen. 
  
• Payment of the monthly installment: the last business day of each month, in the account you selected during the loan contract process. The first installment corresponds to the interest accrued from the loan contract date to the last business day of the same month (if these do not coincide).
• Partial or full cancellation: you can repay all or part of the loan before the end of the term. You can amortize as many repayments as you wish and for the remaining amount you can choose between reducing the amount of the monthly repayment or reducing the term. 
  The fee depends on when you do this:
  • 0.50% if at the time of cancellation, the outstanding payment term does not exceed 12 months.
  • 1% if there are more than 12 months remaining.
    
  You can opt to apply the amount to:
  • Reducing the term of the loan and maintaining the amount of the installments.
  • Reducing the amount maintaining the term.

You must apply at a BBVA branch. Ask your BBVA Adviser.

It is opened through bbva.es. 

The procedure for opening the deposit is very simple.

• Choose the option “Contract Your Loan” which appears in the bar “Products One Click Away.”
• Choose the purpose of the loan (new or used vehicle), the amount you need, within the limits provided, the repayment term and the BBVA account where you want us to deposit the money.
• Depending on whether or not you have your salary or pension direct-deposited at the time of contracting, two things can happen:
  • If you already have it direct-deposited, you will see your conditions on the screen, taking into account the bonus in the applied interest and the amount of the monthly installment.
  • If you do not have it, we will ask you whether or nor if you are going to pay by direct debit, with the requirements set out in the Advantages section. If so, you will see the conditions with the bonus, and if not, without the bonus.
• Check the resulting monthly installment and the rest of the loan conditions, and that's all.
• To finish the contracting process, click the button “Contract Loan” and introduce your access password to sign the contract. We will pay it to you immediately. It's that easy.
• In order to prove that the purpose of your loan is for the purchase of a vehicle, you will be required to send us, within 30 calendar days from the receipt of the loan, any of the following documents:
  • The proforma invoice.
  • The purchase and sale agreement.
  • The vehicle registration certificate. 
    

Please scan these documents and send them by e-­mail to prestamocoche@bbva.com

If you do not present proof of purchase of a vehicle, the nominal interest rate will be increased by 0.5 percentage points.

We will deposit the money into the BBVA account you select during the loan signing process.

• You must use financing responsibly in order to be able to cover the repayments and thus avoid possible surcharges in the form of fees or interest.
• In the event of a delay in the monthly repayment, the corresponding late payment fees will be applied.

• Nominal interest rate (NIR): it is a fixed percentage that is applied to the amount lent and that determines the amount of the installments to be paid to the financial institution.
• Annual Percentage Rate (APR): interest rate that indicates the actual cost or yield of a financial product. The APR is calculated based on a standardized mathematical formula that takes into consideration the nominal interest rate of the operation, the frequency of payments (monthly, quarterly, etc.), the bank fees and some operation expenses.
• Opening fee: is the amount we charge you for the formalities carried out by BBVA to grant you the loan and place the amount provided at your disposal.