BBVA Coche Online Loan

Yes, to obtain this 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.

Terms and conditions valid until 12/31/2020, subject to approval by Banco Bilbao Vizcaya Argentaria, S‌.‌A.

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.

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

The payments will be made from your BBVA account on the last day of each month.

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.

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.

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

The Coche Online Loan offers:

• 2.30% Commitment fee on the amount of the loan, with no minimum amount.
• Cancellation fee if you decide to cancel the loan in full or in part before the loan term: 0.50% on the amount to be cancelled if there are less than 12 months to finish paying it, and 1% on that same amount if there are more than 12 months left.
  

For more information, you can check the following generic document with pre-contractual content and an example:

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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 information lets you compare different loans because the lower the APR, the cheaper the loan.