Loan for car purchase directly from the car sales companies 

Key feature 
  • From EUR 300 to EUR 20.000
  • Repayment period from 3 to 96 months
  • Nominal interest rate from 6,25% (fixed)
  • Effective interest rate from 6,44%
  • The fee for approval of this type of loan is 0%, while the commission paid by car sales company to the Bank amounts up to 15% of the initial amount if the loan
  • Fast and simple way to get loan



Security instruments
  • Administrative withholding order on salary/pension of a client/guarantor
  • Bill of exchange and bill authorization signed by a client/guarantor
  • Bill of exchange and bill authorization of a legal entity if a guarantor
  • Comprehensive car insurance
  • Pledge on vehicle
  • Tripartite agreement whereby the employer undertakes to repurchase the vehicle if the loan is in default 
  • *   For the clients from group III, for amounts up to EUR 5,000, one guarantor is needed, and for the amounts over EUR 5,000, two or more guarantors are needed.
  • *   For the clients from group IV (those who do not receive salaries through LB), if their employer is classified in group I or II, for the amounts up to EUR 7,000.00, no guarantor is needed. In other cases for the clients from group IV, depending on the amount and repayment term of the loan, one or more guarantors are needed. The interest rate amounts to 18%.
  • .

* * The Bank reserves the right to accept an alternative security instrument if found acceptable and in line with the Bank's business policy.



 Required documentation

Representative example

Representative example

Loan amount

€ 15.000

Repayment term

96 months

Nominal interest rate


Monthly installment


Administrative fee

€ 150,00

Effective interest rate


Total debt


* The total debt includes the loan amount, total interest, loan processing fee, cost of bill of exchange of EUR 2 and cost of enquiry in the Montenegrin Credit Registar  of EUR 3.50.  The example above did not include costs of comprehensive cover insurance, vehicle appraisal cost and mortgage cost ( only for amount above eur 15.000) .

** The data on this loan may vary depending on the client's solvency. For more information, please visit  a local branch of Lovćen banka AD or make an appointment by phone on +382 20 205 410 or send an e-mail to: