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Santander with new leasing product
From December 15, 2015, Santander Consumer Bank will be offering its private customers a new leasing option that complies with the Consumer Credit Act. This now replaces the previous leasing financing with mileage billing for new contracts. The most important changes to the new leasing financing in accordance with the Consumer Credit Act (VKrG) include: The effective interest rate must be clearly shown in advertising. Before concluding the leasing contract, the customer receives pre-contractual information about all contract contents, in particular about the conditions and costs of the leasing as well as about the obligations that he enters into with the contract. If desired, customers can also request a repayment plan or account statement free of charge at any time. Furthermore, the consumer has the right, which can be exercised at any time...
Santander with new leasing product
From December 15, 2015, Santander Consumer Bank will be offering its private customers a new leasing option that complies with the Consumer Credit Act. This now replaces the previous leasing financing with mileage billing for new contracts. The most important changes to the new leasing financing in accordance with the Consumer Credit Act (VKrG) include: The effective interest rate must be clearly shown in advertising. Before concluding the leasing contract, the customer receives pre-contractual information about all contract contents, in particular about the conditions and costs of the leasing as well as about the obligations that he enters into with the contract. If desired, customers can also request a repayment plan or account statement free of charge at any time. Furthermore, the consumer has the right to terminate the leasing contract, which can be exercised at any time (a notice period or a specific termination date does not have to be observed). “By showing the effective interest rate in advertising, it will be much easier for customers to compare different leasing offers,” explains Michael Schwaiger, Director of Motor Vehicles at Santander Consumer Bank. Santander works with over 1,200 car and motorcycle dealers in Austria, including brands such as Kia, Suzuki, Volvo, Harley Davidson, KTM and Husqvarna.