All loans in Israel are based on indexes, the most used index is Prime; Madad is the second most common.
Loans are always quoted as Prime or Madad (+ or -) the basis points. This means your monthly payment is not a fixed amount, only the points you pay over or under the index is fixed. Prime has historically been the most stable index we can show you the history. Today's prime and its next review date are listed to the right.
As a general rule the banks will loan 80 - 85% of the Levi Yitzhak Mechiron (catalog) value of the car. Depending on the strength of your file and make of cars you can go to 90-95%.
Year, classification (new-used), length of loan, and credit score/file strength will all effect your final obtained indexed rate.
If you are offered a 0% interest rate please read our blog 0% auto financing - Smoke and Mirrors before you make any decisions. There is a reason you are being offered something that is to good to be true.
Pre approval is always the preferred way to finance or lease
a car; and you can quickly apply for either by using this Express Application link. The automobile retail world is notorious for making the most of their
advantages they hold over their customers, this practice can be amplified when there is a language inequality.
Even your odds and explore all your financing options by contacting us using the web form on the right. You can view videos and written recommendations from current clients here on our customer recommendation page.