Chery Automobiles Rus and Sovcombank Launch Direct Balloon Promo for Exeed and Chery Models
Chery Automobiles Rus, the official distributor for Chery and Exeed, partners with Sovcombank to introduce the Direct Balloon Promo credit program. This offer covers the entire model range from both brands, with loans available directly through specialists at authorized dealers. The program sets a maximum loan amount of 6,900,000 rubles and a maximum loan term of 60 months, providing buyers with flexible financing options for a wide selection of vehicles.
Under the Direct Balloon Promo, the required deposit starts at 20 percent, while a deferred payment of 60 percent of the vehicle’s value is structured into the loan. This arrangement allows borrowers to make smaller monthly payments across the full term, with the exception of the final month, which settles the remaining balance. The streamlined process emphasizes speed and convenience, as loan decisions are made by specialists within an hour after documents are prepared.
For loan terms of 24 and 36 months, the program offers a residual payment option. The residual corresponds to the car’s redemption value as determined by the bank under the car buy-back guarantee. Additionally, customers have the option to trade in their current vehicle, applying the difference between the repurchase price and the remaining loan balance as a deposit toward a new car. This creates a seamless loop for upgrading to newer Exeed or Chery models.
Example of monthly payments based on the program as of March 28, 2022: for a 60‑month loan on a Chery Tiggo 4 with the 1.5 MT Base configuration, priced at 1,699,900 rubles. The calculation assumes a first payment of 764,955 rubles, which is 45 percent of the car’s value, and a final balloon payment equal to 50 percent of the price, paid in the last installment. In this scenario, the monthly payment would be 17,670 rubles. This example illustrates how the Direct Balloon Promo can lower monthly costs while preserving long‑term ownership options.