Kibkom North Cyprus Forum

Hello,As an ex pat with residency here ,can anyone tell me can I get finance for car purchase.Thanks

Based on what I have understod from a couple of people who were guarantors for loans in NC, and the same is true for what they term a 'credit card' you can borrow money, provided you (or someone that would have to like you very much) deposit the full amount of the loan wiht the bank as security.

Miss a payment and the bank collects from the money in the security account.

You do earn interest on the deposited money though.

Has anyone here recently gone through the process of comparing car finance options from different lenders? I'm currently in the market for a new car and I'm trying to understand the pros and cons of various financing methods.
Specifically, I'm interested in hearing about your experiences with choosing between dealership financing, bank loans, or credit union options.As i got some info from carvine Facebook page. How did you decide which route to take? Did you encounter any unexpected challenges or benefits along the way?
I'm eager to learn from your personal experiences and gather some insights to make an informed decision.

Would it be more cost effective and simpler to get a personal GBP loan from your UK bank

The whole point of getting a loan is because you do not have access to the funds required immediately.
So a bank asking for the same amount oif the loan to be held as collateral in a deposit account that pays interest defeats the purpose of getting a loan.