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🟢 What is the interest rate and to whom?
✅ Auto loan is a consumer loan. A consumer loan is a loan given to an individual for the purchase of goods (works, services) in order to meet his consumer needs.
✅ Car loans are issued to individuals with income from their activities, pensions and other income.
✅ Car loan for the purchase of cars manufactured in the Republic of Uzbekistan is made by transferring money to the bank account of the manufacturer or seller.
✅ The order of car loans to individuals (interest, term, down payment, etc.) is determined by the credit policy of each bank.
✏️ This means that interest, term and down payment are determined based on the bank's credit policy; that is, the same bank decides for how long, the initial cost and the percentage of the car loan, that is, there is no clearly defined amount of interest, term and down payment for car loans to citizens. The competition between them determines these percentages.