Car Loan

1. Which car showrooms do you cooperate with?
2. Why is it necessary to insure the car when arranging for a car loan?
3. Can I independently choose an insurance company?
4. What documents confirm the personal income of a citizen of Ukraine working abroad?
5. If I have residency registration in Kharkiv but live and work in Kyiv, can I arrange for a loan in Kyiv?
6. Can I arrange for a car loan if I have no driver’s license?

•Which car showrooms do you cooperate with?

We cooperate with almost all car showrooms in Ukraine, as our Bank has been sufficiently operating in this market segment for a long time. You can view the list of our partner car showrooms on our website www.pravex.com. If you want to buy a car in a car showroom with which we have not entered a cooperation agreement, Pravex-Bank is ready to consider the possibility of granting the loan via this car showroom and enter into a cooperation agreement as soon as practicable.

•Why is it necessary to insure the car when arranging for a car loan?

Since your vehicle is a pledged property, it must be insured according to full-scale hull insurance (including 4 types of risk: car theft, traffic accident other than through the user’s fault, traffic accident through the user’s fault, traffic accident with an unidentified vehicle). Another mandatory requirement is civil liability insurance of the car owner (pursuant to the Laws of Ukraine).

•Can I independently choose an insurance company?

When arranging for loans in PRAVEX-BANK PJSCCB, clients of the Bank must insure property being pledged to the Bank with an insurance company accredited with PRAVEX-BANK PJSCCB. Currently, there is a series of insurance companies accredited for cooperation with PRAVEX-BANK PJSCCB, the list of which is updated on a continuous basis.

•What documents confirm the personal income of a citizen of Ukraine working abroad?

When obtaining a car loan, to confirm his/her income, a borrower who works abroad can present his/her employment contract between the borrower and employer specifying the income received by the borrower. If the employment contract is made in a foreign language (depending on the borrower’s host country), the mandatory requirement will be the translation of such employment contract with a translation agency. In addition, the income of such borrower may be confirmed by money transfers receipts or an account statement through which the borrower transfers funds.

•If I have residency registration in Kharkiv but live and work in Kyiv, can I arrange for a loan in Kyiv?

You can arrange for a loan in any outlet of the Bank within the territory of Ukraine, regardless of the place of residency registration of the borrower.

•Can I arrange for a car loan if I have no driver’s license?

A loan can be granted to a borrower who has no driver’s license. In such a case, the driving right to the purchased car can be granted to the person who has a driver’s license.

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