Question 1

When can I take the car?

Accepted Answer

The new car is provided to the buyer upon approval of the loan agreement package and upon making the downpayment.

Question 2

How is the car registration performed?

Accepted Answer

The car is registered by filing the Purchase and Sale and Pledge Agreement and other documents provided by the dealer (including the acceptance-delivery act) with the Road Police.

Question 3

How long does it take for the bank to make a decision on the loan?

Accepted Answer

Loan approval response is provided maximum in 5 minutes.

Question 4

Are there any restrictions for automatically approved car loans?

Accepted Answer

Online car loans are provided in the amount of up to AMD 20 million for buying cars from the dealers cooperating with the Bank.

Question 5

Can I use the loan to exchange my old car for a new one?

Accepted Answer

Yes, some of the car dealers provide Trade-in service. If the car is sold by a dealer providing trade-in service and meets the defined requirements, you can provide it to the dealer as a downpayment.

Question 6

How is the appraisal of my old car performed?

Accepted Answer

The appraisal is performed by the dealer based on their criteria.

Question 7

What factors influence loan approval?

Accepted Answer

The decision on the loan is made based on your income, existing loans, credit history, and other creditworthiness criteria.

Question 8

Can I make the down payment in cash at the dealership?

Accepted Answer

You need to make a downpayment to the dealer's bank account. You can make the transfer at any bank or via Online/Mobile Banking systems. Downpayment is a critical condition for loan disbursement.

Question 9

Do I need to submit a proof of employment when applying for a loan?

Accepted Answer

No, no proof of employment is required when applying for up to AMD 20 million loans.

Question 10

Can I apply for a loan with a co-borrower?

Accepted Answer

No, you cannot have a co-borrower for online loans.

Question 11

Does the loan application affect my credit score?

Accepted Answer

Yes. The information about the factors affecting the credit history and credit score is available here.

Question 12

What data are required for loan pre-approval?

Accepted Answer

Loan pre-approval process is quite simple. You need to enter only your social card and identity document (passport or ID card) data and the code sent to your phone number.

Question 13

Can I apply for loan pre-approval without selecting a car?

Accepted Answer

Yes. You can submit a loan pre-approval application by indicating simply the amount you need.

Question 14

How shall I receive the loan after pre-approval?

Accepted Answer

Pre-approval of loan does not mean the end of the lending process and provision of amount. Pre-approval is for learning how much you can borrow after you choose a car and submit a loan application.

Question 15

Can the amount of the pre-approved loan vary from the amount of the loan after final approval?

Accepted Answer

Yes, it can. Pre-approval is performed based on various indicators, such as income, credit history, etc. If your loan is pre-approved and these indicators change before starting the lending process, after final approval the amount of the loan may vary from the pre-approved loan.

Question 16

How long will the pre-approved loan application be effective?

Accepted Answer

Loan pre-approval will be valid for 7 days.

Question 17

What happens if I do not apply for the loan after pre-approval?

Accepted Answer

Creditworthiness check does not imply any obligations. Loan pre-approval terms will be valid for 7 days, provided that the credit history, employment and other creditworthiness criteria remain the same.

Question 18

What documents do I need to get a loan?

Accepted Answer

You need to present an identity document (passport or ID card) and a social card for lending.

Question 19

Where can I find the list of the dealers cooperating with Ameriabank?

Accepted Answer

The list of car dealers and their offers is available here.

Question 20

How long will the approved loan application be effective?

Accepted Answer

A 7-day period is provided after loan approval to finalize the lending process (to accept the loan terms and approve the agreement package).

Question 21

Can I repay the loan before the due date?

Accepted Answer

Yes, no fines are applied for early repayment of a car loan.

Question 22

Which is the maximum limit for online car loan?

Accepted Answer

Maximum amount of online car loan is AMD 20 million. For larger amount you need to submit the loan application at the Bank's branches.

Question 23

Where can I see the list of available cars?

Accepted Answer

The cars offered by dealers are available here.

Question 24

How is the car insured?

Accepted Answer

CASCO insurance for cars is obtained automatically, within 1 business day upon approval of the agreement package.