How to get car loan from banks in Phnom Penh

Even the world faces to world financial crisis for this last few years but automotive market in Cambodia seem not drop down. Car dealers in Phnom Penh reported their sales has in creased every year. Most of Cambodian people buy cars with full payment but now they begin to do down payment or car load with car dealers or banks, because they want to use their money to invest in their business.

I would like share some knowledge about the basic policies of car loan with the banks. First of all, the bank will check the buyer's revenue, especially for last few months. Then the bank will requires the buyer to pay 40% of the total amount of car fee and then they have to pay with equal amount every months for the remain balance in 4 to 5 years by 14% to 18% of interest per year. Also the buyer has to deposit car's document or tax paper and house or land title to the bank, if required.