Do I have to fulfill any requirements?

Be a private citizen, have an account with BBVA and choose an environmentally-friendly car. As with all loans, you need to get the bank's prior approval.

Do I have to provide documentation?

If the car is new, we will ask for you the proforma invoice. If you buy a second-hand car, we will ask you for the vehicle's Technical Inspection Card. For hybrid cars, we will also need to see the CO2 emissions certificate.

What is meant by NIR and APR?

NIR (Nominal Interest rate) is what you pay to a bank in exchange for receiving a loan. The NIR is usually lower than the APR and is not used to compare the price between different loans , as it only includes the interest rate and not all the transaction charges. APR (Annual Percentage Rate) provides the cost of a financial product, such as loans, and includes both the interest and the various costs and fees associated with it. This information lets you compare different loans because the lower the APR, the cheaper the loan .

What would happen if I was late for a payment?

You would be charged interest on arrears. Not making payments on time could have adverse consequences, such as forced sales or problems getting loans.

Will the offer expire?

Yes, the offer is valid until 10/31/2022, subject to approval by Banco Bilbao Vizcaya Argentaria, S.A.

BBVA Eco-Car Loan for customers

From 4.95% NIR/5.23% APR with a paycheck or pension direct deposited at BBVA.

To 5.95% NIR/6.28% APR with a paycheck or pension not direct deposited at BBVA.

From €3,000 to €75,000.
No commitment fee.
From 2 to 8 years to repay the loan.

This example will make it clearer

EXAMPLE OF A LOAN WITH PAYCHECK OR PENSION DIRECT DEPOSITED
Loan amount: €10,000.

Commitment fee: €0.

Repayment period: 8 years (96 months).

Constant monthly payment: €126.36.

Interest rate: 4.95% NIR / 5.23% APR.

Total to repay: €12,202.76

The APR was calculated taking into account postage expenses: €0.75 monthly.

Calculations based on loan being signed on the last day of the month.
EXAMPLE OF A LOAN WITH NO PAYCHECK OR PENSION DIRECT DEPOSITED
Loan amount: €10,000.

Commitment fee: €0.

Repayment period: 8 years (96 months).

Constant monthly payment: €131.17.

Interest rate: 5.95% NIR / 6.28% APR.

Total to repay: €12,664.36

The APR was calculated taking into account postage expenses: €0.75 monthly.

Calculations based on loan being signed on the last day of the month.

You can improve the interest rate

To be eligible for a discount in the interest rate of the Eco-Car Loan, you only need to meet one of these conditions:

Direct deposit at BBVA of your paycheck of a net monthly amount of at least €600.

Direct deposit of your pension of a net monthly amount of at least €300.

What can you use the loan for?

With this loan, you can finance the purchase of electric or plug-in hybrid vehicles. 100% of what you request needs to be for purchasing the car.

Are you interested?

Applying for your Environmentally Friendly Car Loan is this simple:

Fill out the application form.

We will contact you for further information.

If everything is in order and BBVA approves the loan, the only thing left to do would be to sign the contract at your branch.

24 hours after signing, you will receive the money in your BBVA account.

You have the right to withdraw from the loan contract without incurring a cancellation fee for a period of 14 calendar days from the date you sign. You will only have to pay for the interest accrued during those days.

For example: if you apply for a loan of €10,000 with an NIR of 4.95% over 8 years (96 months) and decide to cancel it before the 14 calendar days, you will have to pay €1.36 for each day that has elapsed.

Fewer emissions and fewer fees

Mobility is changing, and we want to promote this change at BBVA. Which is why if you choose an electric or plug-in hybrid car, you don't have to pay a commitment fee when you apply for this loan.

You have 14 days to change your mind

Remember that you have the right to withdraw from the loan contract without incurring a cancellation fee for a period of 14 calendar days from the date you sign. You will only have to pay for the interest accrued during those days.

How much money can I request to finance a car?

From a minimum of €3,000 up to a maximum of €75,000. If you need a smaller amount, you can request one of our credit cards.

How long do I have to pay it off?

You can choose from a minimum period of 2 years up to a maximum period of 8 years, depending on the amount requested.

What fees does this loan have?

You don't have to pay any study or commitment fees.

If you decide to pay back all or part of your loan early, you will have to pay a 0.50% fee if there are less than 12 months left to repay it, and 1% if there are more than 12 months left.