A Longer Car Loan Cuts the Monthly Payment but Raises the Interest Bill
At an illustrative 15.2% nominal rate, financing GEL24,000 over 72 rather than 36 months lowers the payment from GEL834.32 to GEL510.09 and adds GEL6,691 in scheduled interest.
Published lender rates and fee context
Conditional nominal and effective starting rates; ProCredit also lists a 1.2% disbursement-fee floor and 2.5% insurance-rate floor.
Start with the terms lenders actually publish
The public terms read on 6 September 2026 are starting rates, subject to approval. TBC says the actual nominal and effective rates are set at approval and links its displayed rate to TIBR1M. ProCredit publishes a starting rate and a separate disbursement fee, with final terms set in the loan agreement.
- ProCredit Auto Loan — Nominal rate from: 15.2%; Effective rate from: 17.09%; Down payment / co-financing: 0% down payment; Published fees and insurance: Disbursement fee from 1.2%; exclusive insurance rate from 2.5%; Term / currency context: Up to 72 months; product page does not label a currency
- TBC Auto Installment — Nominal rate from: 15.5%; Effective rate from: 26.13%; Down payment / co-financing: Approval terms determine the customer contribution; Published fees and insurance: Product page does not show a single origination fee; Term / currency context: Calculator displays GEL; repayment choices extend to 120 months; rate linked to TIBR1M
- TBC Quick Auto Installment — Nominal rate from: 14.5%; Effective rate from: 26.17%; Down payment / co-financing: A down payment is required; income-proof-free applications require co-financing; Published fees and insurance: Product page does not show a single origination fee; Term / currency context: Calculator displays GEL; 6–72 months and GEL500–GEL150,000 range shown; rate linked to TIBR1M
The effective rate is the comparison warning. The nominal percentage is the input used in the simple amortisation examples below; the higher effective rate signals that fees and other pricing assumptions can materially change the signed cost.
Start with the terms lenders actually publish
The public terms read on 6 September 2026 are starting rates, subject to approval. TBC says the actual nominal and effective rates are set at approval and links its displayed rate to TIBR1M. ProCredit publishes a starting rate and a separate disbursement fee, with final terms set in the loan agreement.
- ProCredit Auto Loan — Nominal rate from: 15.2%; Effective rate from: 17.09%; Down payment / co-financing: 0% down payment; Published fees and insurance: Disbursement fee from 1.2%; exclusive insurance rate from 2.5%; Term / currency context: Up to 72 months; product page does not label a currency
- TBC Auto Installment — Nominal rate from: 15.5%; Effective rate from: 26.13%; Down payment / co-financing: Approval terms determine the customer contribution; Published fees and insurance: Product page does not show a single origination fee; Term / currency context: Calculator displays GEL; repayment choices extend to 120 months; rate linked to TIBR1M
- TBC Quick Auto Installment — Nominal rate from: 14.5%; Effective rate from: 26.17%; Down payment / co-financing: A down payment is required; income-proof-free applications require co-financing; Published fees and insurance: Product page does not show a single origination fee; Term / currency context: Calculator displays GEL; 6–72 months and GEL500–GEL150,000 range shown; rate linked to TIBR1M
The effective rate is the comparison warning. The nominal percentage is the input used in the simple amortisation examples below; the higher effective rate signals that fees and other pricing assumptions can materially change the signed cost.
Published lender rates and fee context
Conditional nominal and effective starting rates; ProCredit also lists a 1.2% disbursement-fee floor and 2.5% insurance-rate floor.
GEL24,000 loan by term
At a constant 15.2% nominal rate, longer terms lower monthly payments and raise scheduled interest.
Four terms for the same GEL24,000 loan
The worked example is a GEL30,000 car, a 20% down payment of GEL6,000 and GEL24,000 financed. It uses a constant 15.2% nominal annual rate, the starting percentage published by ProCredit, and equal monthly payments. The separate 1.2% disbursement-fee illustration adds GEL288 upfront. Insurance and any further approval-specific charges need to be added to the household budget.
- 36 months — Financed principal: GEL24,000; Monthly payment: GEL834.32; Scheduled instalments: GEL30,035.53; Interest in schedule: GEL6,035.53; ProCredit 1.2% fee illustration: GEL288
- 48 months — Financed principal: GEL24,000; Monthly payment: GEL670.37; Scheduled instalments: GEL32,177.93; Interest in schedule: GEL8,177.93; ProCredit 1.2% fee illustration: GEL288
- 60 months — Financed principal: GEL24,000; Monthly payment: GEL573.48; Scheduled instalments: GEL34,408.86; Interest in schedule: GEL10,408.86; ProCredit 1.2% fee illustration: GEL288
- 72 months — Financed principal: GEL24,000; Monthly payment: GEL510.09; Scheduled instalments: GEL36,726.53; Interest in schedule: GEL12,726.53; ProCredit 1.2% fee illustration: GEL288
Stretching the term from 36 to 72 months cuts the monthly payment by GEL324.23, but adds GEL6,691 to scheduled interest. Including the GEL6,000 down payment and the fee illustration, the total cash outlay rises from GEL36,323.53 to GEL43,014.53, before insurance and other costs.
Four terms for the same GEL24,000 loan
The worked example is a GEL30,000 car, a 20% down payment of GEL6,000 and GEL24,000 financed. It uses a constant 15.2% nominal annual rate, the starting percentage published by ProCredit, and equal monthly payments. The separate 1.2% disbursement-fee illustration adds GEL288 upfront. Insurance and any further approval-specific charges need to be added to the household budget.
- 36 months — Financed principal: GEL24,000; Monthly payment: GEL834.32; Scheduled instalments: GEL30,035.53; Interest in schedule: GEL6,035.53; ProCredit 1.2% fee illustration: GEL288
- 48 months — Financed principal: GEL24,000; Monthly payment: GEL670.37; Scheduled instalments: GEL32,177.93; Interest in schedule: GEL8,177.93; ProCredit 1.2% fee illustration: GEL288
- 60 months — Financed principal: GEL24,000; Monthly payment: GEL573.48; Scheduled instalments: GEL34,408.86; Interest in schedule: GEL10,408.86; ProCredit 1.2% fee illustration: GEL288
- 72 months — Financed principal: GEL24,000; Monthly payment: GEL510.09; Scheduled instalments: GEL36,726.53; Interest in schedule: GEL12,726.53; ProCredit 1.2% fee illustration: GEL288
Stretching the term from 36 to 72 months cuts the monthly payment by GEL324.23, but adds GEL6,691 to scheduled interest. Including the GEL6,000 down payment and the fee illustration, the total cash outlay rises from GEL36,323.53 to GEL43,014.53, before insurance and other costs.
GEL24,000 loan by term
At a constant 15.2% nominal rate, longer terms lower monthly payments and raise scheduled interest.
Price and down payment move the principal first
With the same 36-month term and 15.2% nominal rate, a 20% down payment produces these price outcomes:
- GEL30,000 — Down payment: GEL6,000 (20%); Financed principal: GEL24,000; Monthly payment: GEL834.32; Down payment + instalments + 1.2% fee: GEL36,323.53
- GEL40,000 — Down payment: GEL8,000 (20%); Financed principal: GEL32,000; Monthly payment: GEL1,112.43; Down payment + instalments + 1.2% fee: GEL48,431.38
The extra GEL10,000 of sticker price raises the monthly payment by GEL278.11 under the same assumptions. On the GEL30,000 car, increasing the down payment from 20% to 30% reduces the financed amount from GEL24,000 to GEL21,000 and the monthly payment from GEL834.32 to GEL730.03. It requires GEL3,000 more upfront and reduces scheduled interest by GEL754.44.
Read the effective rate alongside the nominal rate
For a GEL10,000 example over 48 months, TBC's Auto Installment calculator displays GEL280.85 per month at its 15.5% starting nominal rate. Quick Auto Installment displays GEL275.78 at 14.5%.
On an otherwise identical GEL24,000, 36-month illustration, changing only the nominal input from ProCredit’s 15.2% floor to TBC Auto Installment’s 15.5% floor raises the payment from GEL834.32 to GEL837.86 and scheduled interest from GEL6,035.53 to GEL6,162.83. That GEL3.54 monthly difference is small; the much larger gap between nominal and effective rates is why the approval document, fees and insurance matter more than a headline floor.
TBC's displayed rates are linked to TIBR1M, part of the Tbilisi Interbank Interest Rate indices published by the National Bank of Georgia. An index-linked rate can change over time, so the offer's reset frequency, floor and cap matter to the future payment.
How to compare an offer in five numbers
- Write down the car price and the exact cash contribution.
- Confirm the financed principal after the contribution and any financed charges.
- Compare the effective rate, not only the nominal “from” rate.
- Add every published fee and required insurance to the payment schedule.
- Ask whether the rate is fixed or benchmark-linked, which index is used and when the payment can reset.
This turns a lower monthly payment into a meaningful comparison: the borrower can see what was paid upfront, what is paid each month, and what the complete scheduled repayment costs.
Confirm the effective rate, fees, insurance, currency and benchmark-reset terms in the approval documents.
Methodology
ProCredit Bank, TBC Bank and National Bank of Georgia public terms, plus ProCredit's agreement template.
Three advertised auto-finance products and equal-payment scenarios at a constant 15.2% nominal annual rate.
Lender terms read 6 September 2026.