Car Loan

Mercury Credit provides a full range of financing services for vehicles.

Loan Secured by a Vehicle

A loan secured by a vehicle is a type of credit in which the borrower’s vehicle serves as collateral.

Key Conditions:

  • Only the vehicle owner (individual or legal entity) may apply for a vehicle-secured loan.
  • A manual pledge agreement is signed with the vehicle owner, and the vehicle is kept in our secure parking area until the loan is fully repaid - interest rate of 2.0% per month, or 24% per year.
  • If the vehicle remains in your possession, it is registered in our name with the ARK until the loan is fully repaid - interest rate of 3.0% per month, or 36% per year.
  • Loan amount of up to 70% of the vehicle's market value.
  • Loan term of up to 5 years.

Borrower Requirements:

  • Age between 18 and 65 years.
  • Estonian citizen or resident with a permanent residence permit.

Required Documents:

  • Passport or driver’s license
  • Vehicle registration certificate
  • Insurance policy

Collateral Requirements:

  • The vehicle must have been registered with ARK for at least 3 months.

Loan for Car Purchase

Mercury Credit acquires and transfers to the client the vehicle they have selected. Under this agreement, the client gains the right to long-term use of the vehicle for a specified fee, while ownership remains with our company for the duration of the agreement.

Key Conditions:

  • Both individuals and legal entities may apply for a loan for car purchase.
  • Interest rate of 2% per month.
  • Initial down payment of at least 30% of the vehicle’s purchase price.
  • Loan amount for vehicle purchases ranging from €1,000 to €20,000.
  • Loan term of up to 5 years.

Borrower Requirements:

  • Age between 18 and 65 years.
  • Estonian citizen or resident with a permanent residence permit.

Amount:
10000
Period:
30 months
Monthly payment:
*Loan calculator and chart are an example, to receive an accurate individual offer, please submit an application

Example 1

Loan amount €3,000, loan repayment 5 years, total 60 consecutive payments, fixed interest 24% per year, traffic insurance €74.07 per year, warranty costs for the consumer €48, APR 36.79%, repayment amount paid by the consumer €5,177.95 and total €5596.30.
There is no contract fee.
Signing a traffic insurance contract is mandatory.

Example 2

The traffic insurance payment for the warranty VW Touran (2003, 77kw, diesel) is €74.07 per year, or €6.17 per month.
The state fee for the change of ownership of a motor vehicle is €48.