Summit bank provides its customers with an excellent opportunity to own their own vehicle through their Summit Bank car finance product. This is a product that puts borrowers back in control of what they spend, enabling them to purchase any vehicle they wish. With a wide range of benefits and features, it is a product that is exceptionally appealing to those who are in need of purchasing a vehicle.
This is a very flexible car loan product offering a significant loan amount to those who require it. The loan can be spread over a period of anything from 1 year to 5 years and although that is not as long as others, it offers enough time for borrowers to make use of this product in an affordable way. The mark up rate differs depending on whether on borrowers are salaried or self-employed while a minimum down payment of 15% is required on all vehicles, regardless of whether they are new, used or imported.
The bank offers mandatory insurance that is provided by the banks authorised insurance company while those who have the ability to pay the loan off early can take advantage of an early settlement facility.
The process of applying is fast and efficient and no fees are applicable before an application is accepted, offering borrowers with peace of mind.