CURRENT EVENTS

More Latvian citizens will have the opportunity to receive loans against collateral of an automobile

08.01.2010.

LLC Latvijas Autolīzings (Latvian Car Leasing) commenced business action in January 2010, and it offers quick loans against collateral of an automobile. Representatives of Latvijas Autolīzings think that such services might be a good solution in the present economic situation for many owners of automobiles who need a short-term financial loan.

The loan conditions of Latvijas Autolīzings are more flexible and advantageous in comparison with competitors’ offers because the company’s specialists agree with each client individually on the loan amount, repayment term, and amount of monthly instalment payments.

Every physical entity with possession of an automobile may receive a loan against an automobile. In order to receive the loan, the entity must be a permanent resident of the Republic of Latvia and at least 18 years old.

For receiving the loan, the automobile must have a valid technical inspection report from CSDD (Road Traffic Safety Directorate) and OCTA insurance. After receiving the loan, the automobile remains in the client’s use. The loan amount, which can be received against the automobile, varies from LVL 50 to LVL 5,000 depending on the value and technical condition of the automobile. The loan is granted for the period from 1 to 60 months. It is also possible to receive a loan against an automobile when the automobile has been purchased by lease.

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