That is why vehicles have long moved into the category of “basic necessities”. Along with the demand for cars, their supply has also increased. Car purchase has become available not only in car showrooms or car markets, but also in financial structures. Along with the rapid development of car lending, car leasing programs have also appeared.
Car leasing is increasingly starting to squeeze out car loans because of its affordability and profitability. Not only banks, but also other financial organizations have begun to offer leasing. Fogo is one of the companies that offers to rent a car on much better terms than a bank. Moreover, getting a car leasing right here is much easier than with any other creditor, without having to submit a large variety of documents .
Why do customers choose Fogo?
Fogo entered the market in 2012 and during this time has established its structure not only in Latvia, but also in other countries: Estonia, Lithuania, Romania, Poland and Bulgaria . Fogo’s boom began with the opening of its first office: in the first half of the year, the company posted a net profit of $ 2.1 million. Many customers of this creditor liked the “healthy” position of their financial partner: Fogo supports sports and any form of physical development in many ways. Fogo’s main activities have become:
- financial car leasing,
- reverse car leasing;
- car collateral loan ;
- consumer credit.
Fogo also has its own car park in Rumbula. Fogo has 10 offices in Latvia, 2 of which are located in Riga (one of them in the RTSD) . All other branches – only in the largest cities of Latvia.
Car leasing Fogo
Car leasing can be found not only at Fogo or banks, this service is offered by a number of Latvian financial institutions, however, Fogo leasing terms are the most advantageous and affordable for a quick car purchase.
What are the advantages of Fogo car leasing:
- Car leasing Fogo can be started on the company’s official website, where the next borrower must first apply.
- The amount of car leasing is from 500 to 10 000 dollars.
- It will not take more than half an hour to process a car leasing application, you will know the decision almost immediately.
- It will not take more than an hour for both parties to sign a car leasing agreement.
Simple requirements for customers that are very easy to execute:
- Passport of the Republic of Latvia.
- Age from 18 years.
- Mobile phone number and email address.
- Valid account with a Latvian bank.
- Car leasing covers 90% to 100% of the value of the car.
- Car leasing repayment up to 6 years.
- In order to obtain a car lease, it is sufficient to send the application form for review with the main data of the applicant.
- Early repayment facility.
- Car leasing applies to all cars (any year and make).
The peculiarity of receiving car leasing Fogo is a cash review in the company’s account for 0.01 dollars. This activity is a prerequisite for car leasing. It certifies that the applicant does indeed have his own bank account and that he owns it.
Car loan Fogo
Fogo customers have 2 options for purchasing a car: credit or leasing. The main difference between these two financial instruments is that when you get a car loan, you immediately become the borrower. In a car lease, the borrower has only the right to use the car, but the ownership is transferred to him only when the debt is repaid in full .
Fogo car loan has the same loyal and accessible terms as car leasing at this company. With car loan terms, the borrower can buy any car (new or used). Fogo will offer a cash loan to cover the entire cost of the car, but the loan will be repaid gradually. The customer will be able to repay the car loan within 6 years with the option of early repayment. The amount available for a car loan is between $ 500 and $ 10,000. If the price of the car is above 5000 dollars , the customer is obliged to apply for CASCO insurance policy.
What Is Common To A Car Loan And A Fogo Car Lease?
There are many similarities between the two financial products and only a few differences. It is not always easy for customers to know which program is best for them, but professional Fogo specialist help makes this simple choice. Common features of car leasing and car loan:
- Purchase of a car for both a legal entity and a natural person.
- Monthly scheduled repayment and early repayment option.
- Possibility to buy any car (new or used).
- The loan and leasing amount may cover the full purchase price.
- Any Latvian citizen who has reached the age of majority can become a client.
- The process begins with submitting your online application, then proceeding to the quick process and signing the contract just as fast.
- You do not have to provide any additional information about yourself (certificate of employment, income statement, etc.).
- Professional service for each client.
A new financial instrument from Fogo
The latest Fogo program is a collateralized consumer loan with quick processing and processing. The product has made the creditor more versatile. If in the past every program was car-related, now anyone can get money in the form of a loan for different purposes. Fogo Consumer Loan Terms:
- The loan amount is from 50 to 3000 dollars.
- Debt repayment term – 3-36 months.
- The application will be processed within 15 minutes.
- The loan can be made in cash or by transfer to the customer’s bank account .
The standard age and nationality conditions remain unchanged.