Loans with residual value are not paid down to 0. Instead, they are paid down to a certain amount. The calculator on this page allows you to make calculations of this type of loan.
A loan with residual value consists mainly of two parts. One part is a regular repayment part, where the loan is repaid at the residual value. The second part is the residual value itself, which is a repayable loan.
Loans with residual value
Muller Hi-Finance AS offers residual value loans over 3 or 5 years. The residual value will vary based on calculated mileage and type of car (van / passenger car). A residual value loan is paid down to a fixed residual value. The residual value is due in full at the end of the period. The loan is repaid after 3 years or it can be refinanced over 2 years if this is agreed in advance.
Leasing is a form of lease that is only offered to corporate customers. Muller Hi-Finance AS is the owner of the car, while the lessee has full use rights to the car during the contract period. The minimum period for leasing passenger cars is 36 months. The renter pays a monthly rent which is calculated in advance. The lease covers interest and depreciation. Other expenses such as gasoline, insurance, service, annual fees etc. are covered by the renter.
If a low residual value after three years seems alluring
You can not expect to buy the car at the estimated residual value. The legislation prohibits making pre-repurchase agreements.
We get regular book reviews, where the tax authorities check whether such advance agreements have been made, and must at all times be able to prove that this does not happen, says Suther.
Here you will find some useful information and text links about what you need to know about CBA Loans.
About CBA Loans:
You can easily apply for loans and consumer loans at CBA Loans
CBA Loans is the easy way to apply for loans whether it is for car, boat, consumption, renovation, housing, garage. THE CHOICE IS YOURS! With ABC Finance you can apply for consumer loans, Norwegian loans and credit for your needs. Whether it be a home loan, a car loan or a consumer loan. Apply for a loan with CBA Loans.
Loans are a matter of trust, with 16 years of experience in the market we provide you with the best service. CBA Loans is perfect for those who want to have money in reserve.
Loans for personal consumption are one of our specialties. Apply for mortgages and financing with CBA Loans.We are independent and cooperate with several major players, this ensures you the best conditions.
This applies to car price, interest rate, cash share, lease term and residual value. Let’s take a simple example: The car costs 300,000, has a cash share of 50000 and a residual value of 150000 after 3 years, and you agree 50000 km of mileage for the period.
You pick up the car and pay 50000. You have to have the car for 3 years, and in this time pay the difference between (car price cash share) and residual value, in our case 100000. In addition you pay interest on it at all times Current debt (the car’s value – cash share, which in our case changes from 250000 to 150000 over 3 years), usually amortized to a fixed monthly amount for the period (changed by interest rate changes), much like an annuity loan. In addition, fees come etc. After 3 years you return the car and get a deduction for all the scratches / damage the car has suffered during the lease period, which you have to pay dearly for. In addition, you must pay extra for what you have driven over the agreed mileage, possibly. return the car before 3 years has passed if you reach the agreed mileage before 3 years. During the lease period, you are responsible for the full repair of the car, and that all services and necessary repairs are performed.
Benefits of car loans in FALCON:
When financing in FALCON Finans, the loan is secured only with a mortgage in the car, so that you do not have to provide any collateral in the home
- Flexible down payment
- Up to 2 months of freedom of payment
- Fuel discounts at Shell and Statoil
- up to 10 years loan period
Company car Partner:
- For our contract customers, we can offer individual customized solutions within the financing of company cars. There are
- several solutions that can be adapted to your business.
- Loans and leasing
- Leasing +, where several additional services are incorporated into the rent.
- Loans with residual value.
- Loan +, where several additional services are incorporated in interest and installments.
- Car administration, where we offer full administration The service includes insurance, fuel, service and other fixed expenses.
You first enter the loan amount and the amount to be repaid. The calculator calculates the effective interest rate, total interest and fee, as well as what installment amount you have to pay. A repayment plan is calculated for up to the first 12 installments, and the annual sums for all the years.