This loan has no commitment fee on the borrowed amount. Plus, you can repay it early. If you decide to cancel a part or all of your pre-approved loan before the term indicated in the application, you will be required to pay a 0.5% cancellation fee (of the amount to be canceled) if less than 12 months remain to pay off the loan, and 1% if more than 12 months are left.

Do I have to be a BBVA customer to finance my car?

Yes, to get this car loan you must have a BBVA account, which is where the money will be deposited and the installments will be charged. If you are not already a client, you can open your account during the process. If you want to benefit from better conditions for the Coche Online Loan, you will also have to direct deposit your paycheck or pension in BBVA for the life of the loan.

When is the deadline for applying for the Coche Online Loan?

Terms and conditions valid until 12/15/2023, subject to prior approval by Banco Bilbao Vizcaya Argentaria, S&zwnj;.&zwnj;A.

Can you cancel before the deadline is over?

If you repay all or part of the loan before the period specified in the application, you will have to pay a cancellation fee of 0.50% on the amount repaid early if within 12 months of the end of the loan period, and 1% on that amount if more than 12 months are left on the loan.

How are the installments of the loans and quick loans paid?

The installments of the loans and quick loans will be charged to the bank of your choice on the last day of each month.

What happens if I fall behind on a payment?

We recommend using the financing responsibly so you can make the payments and avoid potential surcharges by way of fees or interest. If this happens, late payment interest will be applied. Also, failing to make payments can lead to serious financial consequences (e.g., forced sale of property) and problems with obtaining future loans.

Does the contract have to be signed before a notary public?

Before signing the contract, you will receive the European standardized information on consumer credit. To grant loans based on prudential and responsible criteria, the bank may request the involvement of a notary public.

Can I cancel the car loan?

You have the right to withdraw from the loan contract within 14 calendar days of its signing.

What if I need more information before applying for financing for the car?

For more information, you can check the following generic document with pre-contractual content and an example: <a title="Descarga aquí el documento de información precontratual del Préstamo Coche Online. Open in a new browser.. global.link.target.blank.text" aria-label="Descarga aquí el documento de información precontratual del Préstamo Coche Online. Open in a new browser.. global.link.target.blank.text" href="/content/dam/public-web/bbvaes/documents/productos/prestamos/ine-credito-al-consumo-clientes.pdf" target="_blank">Download document as a PDF

What is meant by NIR and APR?

NIR (Nominal Interest Rate) is what is paid to a bank in exchange lending us money. NIR is normally lower than APR and is not used to compare the price between different loans , as it only includes the interest rate and not all the expenses of the operation. APR (Annual Percentage Rate) indicates the cost of a financial product such as a loan, including interest and the various associated expenses and fees. This figure lets you compare different loans since the lower the APR, the cheaper the loan.

Can I finance my car without a guarantee?

BBVA loans do not require a guarantee to be approved.

BBVA Coche Online Loan for customers

In just 3 minutes, you can request the amount of money you need to finance your car.

Up to €75,000

Apply in less than 3 minutes

For vehicles less than 3 years old:

From 6.45% NIR / 6.81% APR with a paycheck or pension direct deposited at BBVA

To 7.45% NIR / 7.87% APR with a paycheck or pension not direct deposited at BBVA

Up to 8 years to repay

NO commitment fee

For vehicles over 3 years old:

From 7.70% NIR / 8.14% APR with a paycheck or pension direct deposited at BBVA

To 8.70% NIR / 9.22% APR with a paycheck or pension not direct deposited with BBVA

This example will make it clearer

Here are several examples of financing a €10,000 car and how much it would cost.

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

Paycheck of at least €600.

A pension that is equal to or greater than €300.

Example of financing a vehicle less than 3 years old

With a salary or pension paid into your account	Without direct payment of salary or pension
With a salary or pension paid into your account Interest rate 6.45% NIR / 6.81% APR	Without direct payment of salary or pension Interest rate 7.45% NIR / 7.87% APR
With a salary or pension paid into your account Loan amount €10,000	Without direct payment of salary or pension Loan amount €10,000
With a salary or pension paid into your account Term 8 years (96 months)	Without direct payment of salary or pension Term 8 years (96 months)
With a salary or pension paid into your account Constant monthly payment €133.62	Without direct payment of salary or pension Constant monthly payment €138.59
With a salary or pension paid into your account Commitment fee €0	Without direct payment of salary or pension Commitment fee €0
With a salary or pension paid into your account Total amount owed €12,901.96	Without direct payment of salary or pension Total amount owed €13,379.18

The APR was calculated taking into account postage expenses: €0.78 monthly.

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

Example of financing a vehicle more than 3 years old

With a salary or pension paid into your account	Without direct payment of salary or pension
With a salary or pension paid into your account Interest rate 7.70% NIR / 8.14% APR	Without direct payment of salary or pension Interest rate 8.70% NIR / 9.22% APR
With a salary or pension paid into your account Loan amount €10,000	Without direct payment of salary or pension Loan amount €10,000
With a salary or pension paid into your account Term 8 years (96 months)	Without direct payment of salary or pension Term 8 years (96 months)
With a salary or pension paid into your account Constant monthly payment €139.85	Without direct payment of salary or pension Constant monthly payment €144.95
With a salary or pension paid into your account Commitment fee €0	Without direct payment of salary or pension Commitment fee €0
With a salary or pension paid into your account Total amount owed €13,500.04	Without direct payment of salary or pension Total amount owed €13,990.13

The APR was calculated taking into account postage expenses: €0.78 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 Coche Online 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.

Do you want to finance your car?

Financing your BBVA Coche Online is that simple:

Fill out the application form.

Send us the documentation we request.

And if it's all correct, we'll deposit the money into your BBVA account.

You have the right to withdraw from the online car loan without incurring a cancellation fee for 14 calendar days from the date you sign. We will refund the commitment fee to you, and you will only have to pay for the interest generated during those days.

For example: if you apply for a €10,000 car loan with an NIR of 7.20% over 8 years and decide to cancel it within 14 calendar days, you will have to pay €1.97 for each day that has elapsed.

Check the process in detail

You have 14 days to change your mind

Remember that you have the right to withdraw from the online car loan without incurring a cancellation fee for 14 calendar days from the date you sign. We will refund the commitment fee to you, and you will only have to pay for the interest generated 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 are the fees?

This loan has no commitment fee.

Plus, you can repay it early. If you decide to cancel a part or all of your pre-approved loan before the term indicated in the application, you will be required to pay a 0.5% cancellation fee (of the amount to be canceled) if less than 12 months remain to pay off the loan, and 1% if more than 12 months are left.