Customers with performing loans at Avant can now choose one of three options to lower their debt-service burden on their car loans/car purchase agreements in a foreign currency and indexed car loans/car purchase agreements. These options only apply to performing loans and agreements that were entered into or taken over before 1st October 2008. For agreements entered into between 1st June 2008 and 1st October 2008, the debt burden is determined by their first due date. No fee will be charged for the changes introduced here.
You are advised to compare these options and select the one which best suits you in the event you cannot make payment in full on the due date.
Furthermore, if you have already missed a due payment, you are urged to make good on your loans or come to an agreement with us on the loan you have defaulted so you can take advantage of one of these options.
Applications shall be received before the 10th of each month for next month’s due date.
We should like to notify our customers of the fact that their interest cost could increase if their loan period is extended and the agreements/loans continue to be subject to exchange rate risk where the principal changes in relation to the exchange rate. Instalments on foreign loans which have been frozen or extended will change in relation to the exchange rate. Instalments on rescheduled loans will change according to the rescheduling index while the principal will continue to change in relation to the exchange rate.
See our options.