BOV launches special motor loan scheme for EU Presidency BMW auction

Bank of Valletta has announced a BOV Motor Loan – Special Scheme linked to the auction of the fleet of 80 BMWs that were used by delegates and high-ranking officials visiting Malta during the Maltese Presidency of the EU. The cars will be auctioned at the MFCC Ta’ Qali on 20 September.

Speaking about the initiative, Edward Grech, Chief Officer Consumer Lending explained: “The BOV Personal Loan is the base product that caters for the different needs of the market. In fact, we also provide financing designed specifically for high value vehicles. We felt that this event is particular enough for us to develop a special scheme to assist those who are interested in acquiring one of these luxury cars that have played such an important role in the history of Europe and Malta.”

The loan is available as unsecured, partly-secured or fully-secured, each carrying a related interest rate margin, ranging from 4.45 to 4.99 per cent. The scheme is available for a maximum term of up to eight or ten years. No charges are levied on this loan. Furthermore, the bank is offering free life cover, in line with the loan amount, capped at €25,000. A BOV representative will be present at the MFCC during the viewing days on 18 and 19 September from 12 noon to 8pm and during the actual auction on 20 September.

The benefits offered under this scheme are available to loans that are processed by 30 September.

As was announced by Muscat Motors immediately after the Malta Presidency of the EU, the auction will be for 40 BMWs ‘5 Series’ and 40 BMWs ‘4 Series’. These cars were used during the Malta Informal Summit at the Grand Master’s Palace in Valletta on 3 February 2017 that welcomed several world leaders and dignitaries to Malta in order to discuss the pressing issue of migration. All proceeds from the auction will be donated to the Malta Community Chest Fund to support its invaluable work.

Further information about the BOV Motor Loan Special Scheme is available from the bank’s website www.bov.com, any BOV branch or by contacting BOV Customer Service Centre on 2131 2020.

All loans are subject to normal bank lending criteria.