Is it possible to get a car loan without a certificate of income and guarantors? How to get a car loan with two documents? How to increase the chances of getting a car loan without proof of income?

A car loan without certificates means without documents confirming income. A few years ago, getting a loan to buy a car on such terms was unrealistic.

Now banking institutions have become more loyal to potential customers, since the demand for lending among citizens is no longer the same as before the crisis. Financial companies need to somehow survive - hence the reduction in mortgage rates and the issuance of targeted loans on the most "humane" terms.

If you cannot officially confirm your income, but you still want to drive a car, then welcome to banks that do not need your certificates - they will believe you without them. How to get a car loan without references, I, Denis Kuderin, an expert on financial issues, will tell you right now.

We sit back and read to the end - in the final you will find an overview of banks where they give loans on favorable terms, plus tips on how to increase the chances of issuing a loan without certificates and guarantors.

1. Can I get a car loan without certificates and guarantors?

Banks are serious organizations. They do not like to risk their money without guarantees of their return, therefore, when issuing loans, they ask customers to provide extensive list of documents confirming their identity and financial status.

However, time makes its own adjustments. The decline in demand is forcing financial institutions to work even with those clients who cannot provide them with the full package of required documentation.

Banks began to treat customers "softer", and look at lending issues "wider".

They introduce programs under which those who wish to receive a car loan only on two documents - passport and driver's license. If you do not have a driver's license, a military ID, TIN, passport or insurance certificate will do.

This option is suitable for those who no official income, but there is a desire to acquire their own transport.

By issuing loans without certificates and guarantors, banks are at great risk.

To reduce risk, financial companies do the following:

1. Raising the interest rate- the difference between car loans with certificates and without them is from 2 to 5%.
2. Increase the amount of the down payment- in some banks, this figure reaches 50%.
3. Reduce loan amount- different banks have their own limits.
4. Reduce loan term- for 7 years, the loan will no longer be given. We'll have to limit ourselves to 3 years, or even 1-2.
5. Securing property as collateral- in our case, the purchased car becomes a pledge.
6. Require obligatory registration CASCO insurance- in case of loss of the car, compensation will go to pay the debt.

Loan programs without references are sometimes referred to as " express loans". These offers are available to customers impeccable credit history and positive reputation. In this case, the car will have to be purchased in partner dealership at the price set by the seller.

Standard requirements for borrowers:

• age from 21 to 65 years;
• Russian citizenship;
• residence in the region where the bank is present;
• absence of outstanding loans in other financial institutions.

The main disadvantages of loans without references are you pay more, loan terms are shorter, the burden on the personal budget increases to the maximum.

Example

For comparison - in VTB car loan for a car " Suzuki» cost in 1.5 million rubles without references will cost 19,9% per annum, with confirmation of income - in 16% . In the first case, the loan term will be 3 years, in the second 5 years. First installment - 40% And 20% respectively.

The advantage is that the loan is issued faster. The bank takes a decision on issuing a loan in just a few hours, and the offer remains valid for 3 months. If you find a more profitable one during this time, use it.

There is another option - get a car loan through a car dealership. It happens that dealerships offer preferential programs from car manufacturers of specific brands. At the same time, a car dealership usually has several partner banks - if it doesn’t work out in one, it will definitely work out in another.

2. What banks pay attention to when issuing a car loan - 3 main points

Car loans are not easy to get for young people and retirees. For all other categories of borrowers, it is relatively easy to do this.

There is 3 highlights to which banks pay special attention.

Moment 1. Production and age of the car

As a rule, car loans without income certificates are issued for new cars. It is much more difficult to buy a used car with such a loan. Even if you manage to find a bank that will issue money for a used car, it will present special requirements to transport.

In particular, the car should not be over 8 years old and have over 3 owners in the past. In addition, it must be purchased officially - through a dealership.

Car loans without certificates are issued for new cars

State support - the sale of cars on credit on preferential terms - applies only to domestically assembled cars worth no more than 1.5 million rubles . If anyone does not know, not only VAZs are assembled in the Russian Federation, but also cars of foreign brands from " Audi" before " Toyota”, so this condition does not particularly limit the choice.

Moment 2. Age, citizenship and work experience of the borrower

A loan on 2 documents without a 2-personal income tax certificate and guarantors is issued to citizens over 21 and under 65 (in some banks, the upper limit is 55 years). If the borrower is a man under 27, he will be required to provide a certificate stating that he not eligible for military service(it is difficult to pay a loan while serving in the army).

Registration is required in the same region or city where you apply for a loan. They also require at least a year of work experience (for some banks, six months is enough). And it is desirable that at the last place of work you worked at least 4-6 months.

If you - individual entrepreneur, it is necessary that the period of your economic activity also exceed 12 months.

Moment 3. Credit history

The bank checks the client through credit history bureau and through their channels. The presence of outstanding loans in other banks almost always means a refusal to issue new ones. A complete lack of credit history is not an analogue of a good one.

To earn a reputation as an accurate payer, you need to have several closed loans without delays and complaints from the bank. The easiest way to do this is by issuing a credit card for a small amount and repaying the loan on time. Or take it from a company that transmits information to the BKI.

3. How to get a car loan with two documents - 6 easy steps

I have already said that there are 2 options to borrow money for a car - through a salon or directly at the bank. The best option is to apply for a loan at an institution where you already have an account.

For example I have salary card Alfa Bank left over from a previous employer. I contacted the bank about a car loan, and they answered me as follows: 2 documents will be enough for you, but in case of doubt, the bank has the right to request additional information.

The bet for me will be 12,49% against 15,99% on standard terms. This is me to the fact that it is useful to have a salary card.

If you choose to lend through a bank, a step-by-step guide will come in handy.

Step 1. Choose a bank

If you do not have an account with a particular bank or you are not satisfied with the terms of credit in " his» institution, look for more profitable and comfortable options. It happens that small regional banks offer more enticing programs than institutions with an extensive network of branches throughout the country.

But small banks have their drawbacks. If they go bankrupt or lose their license, you still have to pay. At the same time, you will need to follow the news and inquire about the new conditions for repaying the debt on your own. You may not be notified of all the circumstances, and then ... they will be summoned to court to recover bail.

When choosing a bank, focus on:

• independent ratings;
• reviews of clients, acquaintances, relatives, information from Internet sources;
• work experience of the company;
• the presence of branches in the region and district of the city you need;
• interest rates and credit conditions.

There is a good rule: the fewer documents the bank requires, the more the client overpays. Keep this in mind when applying for a loan on 2 documents.

Use special comparison services on the Internet (eg. compare.ru). The spread in rates and conditions is quite noticeable. And a few "extra" percent in your favor is tens of thousands saved rubles.

Check out promotions and preferential offers. They are carried out by banks and car dealerships.

Step 2. We prepare documents

Since our option is registration without income statements and guarantors, everything is simple with documents.

You will need:

• the passport;
• driver's license (passport, SNILS, TIN, military ID).

If there is a work book - this is an additional plus. Make a copy and, if necessary, attach to the application.

Step 3. Apply

If you don’t want to go to the bank and talk to managers personally, fill out. This saves time. The application will be considered within a few hours or days, depending on the bank. To increase your chances, submit multiple applications to different banks and compare their offers.

Application pre-approval– not yet a 100% guarantee of a loan. The documents will be checked again when you come to the bank in person to sign the contract.

When applying, please indicate the most detailed and only reliable information. Attempts to hide important information (for example, a criminal record) will work against you. The bank will definitely get to the bottom of the truth, and then the loan will definitely be refused. Also blacklisted.

Step 4. We conclude a contract of sale with the seller

The bank gave the go-ahead! We go to the seller and arrange contract of sale. If the dealer center and the bank act in conjunction (and most likely they will), the procedure is simplified. Having concluded a deal with a car dealership, you immediately sign an agreement with a bank representative.

Signing a contract for the sale of a car

If you have any questions or need help, feel free to contact the center managers. They know much more about car loans than you do and will be happy to help - this is their bread and butter.

Step 5. We conclude an agreement with the bank and make an initial payment

It remains only to conclude bank agreement. When you receive the form of the contract, read it from the first to the last letter. In decent institutions, no one will rush you - move somewhere to the side, sit in a chair and study the document.

Pay special attention to these points:

• Real interest rate- banks that respect themselves and the client print the final rate on main page of the contract, and not hidden somewhere in the notes printed by petite.
• Commissions for financial transactions and account management They are sometimes referred to as "hidden fees". The smaller they are, the better.
• Loan repayment methods- it's great when there are a lot of them, and at the same time there is the option of transferring through a personal Internet account.
• Conditions for early repayment of a loan– some banks have a moratorium on such events.
• Your rights as an owner– do you have the right to issue as a taxi or rent it out.

In the vast majority of situations, banks will require registration in addition to OSAGO, at least for a year. This is best done in . It's convenient, relatively inexpensive, and done online.

Step 6. We register a car and pay off the debt

We put the vehicle registered with the traffic police. This takes 10 days from the date of conclusion of the sales contract. Contact any traffic police department, regardless of registration. We need documents for the car, a receipt for payment of state duty,.

You are now a happy car owner. Follow the traffic rules and make your loan payments on time.

4. Where to get a loan to buy a car - an overview of the TOP-3 banks with favorable terms of cooperation

Do not forget that a targeted car loan - not the only way borrow money from the bank. If you don't have enough to buy a car a small amount- arrange consumer credit or take credit card.

These banks are the easiest to get a loan.

offers users, in addition to ordinary consumer loans, to issue a Platinum credit card with a limit of up to 300 000 rubles. Apply via the Internet - filling out the questionnaire will take more than 5 minutes, and the answer will be given in 2-3 minutes. Within 55 days, interest on purchases and withdrawals not removed. You have every right to spend this money on buying a car. The card will be sent to your home within 2 days.

Tinkoff is the first bank in Russia, completely abandoned traditional offices. All operations are performed remotely - via the Internet, a computer or a mobile device.

grants cash loans up to 1 million at the rate 17% . Active special program car loans - a new car secured by an old one. Requirements for collateral transport - age not older than 19 years, technical serviceability.

Persons over 20 years of age with official employment, permanent registration and residence in the city of presence of the bank's branch are eligible to participate in the program. You must also have a home or work landline phone.

- cash loan 3 million rubles at the rate 14,9% per annum. To apply for a loan, it is not necessary to visit the office - apply online and get a response within 15 minutes. Preferential terms for corporate clients and civil servants.

If you are a payroll client of a bank, you only need a passport and a second document (SNILS) to apply for a loan. Each client has the right to borrow during the debt repayment period credit holidays for 1-2 months. During this period no interest is charged.

Comparison table of banking programs:

№	Bank	Rate, % per year	Amount, rub.	Advantages
1		19.9 per year credit card, the first 55 days do not charge interest	Up to 300,000	The card will be delivered to your home or office
2	(long-term use with the right to purchase after the expiration of the contract). Compared to a car loan, leasing has a more flexible payment schedule and a simple registration procedure. Collaterals and guarantors are not needed, and the rates are lower. If you decide to use leasing, contact, here are the most profitable terms deals and additional privileges, in particular - free maintenance. The company has been operating on the market for more than 17 years and has already concluded over 230,000 leasing transactions. 5. How to increase your chances of getting a car loan without proof of income - 3 practical tips To increase your chances of getting a loan without proof of income, follow expert advice. There you are 3 tips, which together and separately increase the likelihood of a positive response from the bank. The purchase of a CASCO policy (voluntary insurance) is required by 9 out of 10 financial companies. By law, the bank does not have the right to force the client to issue CASCO, but if he does not, he will simply be denied a loan. However, if you follow this "recommendation" of the bank, your chances of obtaining a loan without references will increase significantly. Although you have to pay about 10% more per year. But in case of theft or serious damage to the car, there will be something to pay off the bank. Otherwise, you will be left without a car and without money. I already talked about this - car dealerships close deals quickly and act as your personal loan broker. Sometimes they are not even particularly interested in their credit history, they have their own channels of interaction with banks. True, interest rates on such loans will be higher. And you most likely will not have a choice of an insurance company - the car dealership will appoint insurer. The larger the down payment, the more confidence the bank has in the client. If you immediately pay half the cost, it will not be necessary to confirm the income. Another thing is that not all clients have that kind of money. Expect at least 20% down payment. Watch a video on how to get a loan without proof of income. 6. Conclusion So, we figured out that a car loan without references is a real program that almost everyone can use. Another thing is that you will have to pay more on such a loan and in a shorter time. Question for readers What do you think about car loans without certificates and guarantors? Write in the comments. Our magazine wishes you a successful solution to the transport issue! We will be grateful for comments, reviews and comments on the article. Please rate and like on social media. See you soon!

For those who apply for loans for the first time, the question of how to get a car loan seems complicated and intimidating. Maybe because of the amount, maybe because of the responsibility for returning the loan, etc. For others who have already used a consumer loan, it will not be difficult. In the case of a car loan, the bank has more money back guarantees than when issuing a loan for a tablet, as it will.

The main and, perhaps, the main obstacle to obtaining a car loan is a bad credit history. But even this moment can be corrected, it will only take time and.

How to get a car loan

If you decide to take a car loan from a bank, and don’t have it, then the procedure for obtaining it comes down to a simple sequence of actions:

1. Preparation of documents and application for a car loan,
2. Obtaining a decision with the approved car loan amount,
3. , drawing up a contract of sale, making a down payment,
4. Conclusion of a car loan agreement with a bank,
5. Registration and pledge,
6. Payment by the car bank to the dealer's account,
7. Receipt and registration of the car.

Listed, in principle, typical steps for obtaining a car loan. Additional clauses may arise in individual cases.

For example, the requirement of life and health insurance for a future car owner.

Also, some differences may be present when buying on credit between and.

How to get the right amount of credit for a car

For those borrowers who do not have savings and want to take it, the amount that they can count on plays a big role. From the value of this amount, first of all, it will depend on which brand of car to choose in a car dealership based on the price.

In addition, reviews of knowledgeable people can help you choose not only a bank where to get a car loan, but also choose the best model:

• Most,
• Prestigious, etc.

It will not be superfluous to find out the loan car, and most importantly, the prices for maintenance. Information regarding the availability of spare parts and consumables for a particular car model will also be useful.

The very methods of buying a new car are not fraught with anything new. First- we pay for the car immediately. The entire amount is paid to the cash desk of the car dealership. Second- The car is bought on credit. At the same time, it doesn’t matter if you lack 50 thousand or 1 million rubles. Anyway, you take the missing money on credit from financial organization, for example in a bank. The third- Purchasing a car on lease. Previously only legal entities could use this form of purchasing a car. Now this service is available to ordinary citizens. Options to return a new car are described.

Purchase for cash

You have decided to buy a car. To do this, at least you need to have a certain amount of money. It can be accumulated, received a bonus or inheritance, and ultimately borrowed from relatives and friends. We calculated our financial capabilities, chose a car, went to a car dealership and bought it. The easiest and fastest option. But still there are downsides. It takes a long time to save up for a car, but you want to drive right now. In addition, inflation and the floating exchange rate of the ruble constantly increase the cost of the car. Growth from 10 to 20% per year is normal, and during a crisis, prices can rise by 30–50%. Another disadvantage is dishonest dealers who sell cars without documents. There were many such people during the last crisis of 2008-2009, and there are still such people today. Buyers, having paid the full cost of the car, cannot pick it up from the dealer, and those who managed to take it away from the parking lot admire the new car in the garage. You cannot drive such a car, without documents it will not be registered and registration numbers will not be issued. Litigation with dealers can last for more than one month, and the new car is laid up.

Purchase on credit

I really want to buy a car, but there is no money to buy it. The solution is to take a loan from a bank. Loans are targeted (in our case - for the purchase of a car) and consumer (without limiting the type of goods). They differ in interest rates. Target credit is more profitable, its interest rate for the consumer can reach 0%. But all the same, the bank will receive its percentage, even if not from you, but from a dealer or importer. You can save on this if you pay off the loan ahead of schedule within one to two months. Everything would be fine, but the target loan has a big minus.

It is necessary to take out comprehensive insurance, and in rare cases - even insure your life. Experienced drivers over 25 years old, with a driving experience of over 10 years, should not worry, insurance is cheap by today's standards, from 30 thousand to 100 thousand rubles. depending on the chosen machine. Young drivers not older than 23 years old and with experience up to 3 years are not lucky, they have the maximum insurance premium, for some companies it can reach up to 250-300 thousand rubles. Almost the same amount will have to be paid if you take a loan of 1 million rubles. for 3 years at 21.5% per annum. It is better for such drivers to use a consumer loan, although it is more expensive, but save on insurance. For non-credit cars, more favorable conditions, the more you can consider the option with a deductible of 80%. In the event of an accident, you will have to restore the car at your own expense, but the insurance company will pay for theft, fire and complete destruction of the car. From an economic point of view, a profitable option, unless, of course, you get into an accident every month. In this case, it is probably better to use a taxi.

Let's calculate how much it will cost us, say, to buy a Mitsubishi Outlander 2.0 CVT 4WD in the Intense configuration. Now the discounted car costs 1,304,990 rubles. This amount includes metallic coloring (15 thousand rubles). Let's say the customer has a 2008 Nissan X-trail 2.0 CVT with 90,000 miles on it. We rent it under the trade-in program, for which we get a discount on the purchased car in the amount of 40 thousand rubles. On automotive Internet sites, a used X-Trail is now estimated at 599 thousand rubles. Knowing that dealers underestimate the cost of the cars they buy, we proceed from the fact that we will receive 600 thousand rubles in our hands. Of these, we will spend 500 thousand rubles on the purchase of a new car as a down payment. Then we get the following calculations:

As you can see, today it is profitable to buy a car by taking a simple consumer loan. Of the insurances, you can only issue OSAGO (you won’t be able to drive a car without it). But if you are afraid that your new car will be stolen, you can conclude a lightweight hull insurance contract - in our calculation, we used just such a preferential offer. In this case, only the risks of theft and complete destruction of the car in an accident, natural disaster or arson are insured. Such insurance is much cheaper. With a targeted loan, a full comprehensive insurance policy is required, and in some cases, the life and health of the borrower, which makes it unprofitable. Only an experienced driver over the age of 45 with more than 25 years of experience can consider special loan offers from dealers, and then only when paying no more than 5% per annum for three years. And as we see in the example of Mitsubishi, they lure us with an interest rate of 5.9% per annum (in fact - 12.9%).

Leasing for individuals

A new, unfamiliar car acquisition scheme. We heard about leasing for legal entities, now we have made a similar program for individuals to boost sales. What is leasing? In a nutshell, the car belongs to a leasing company, it transfers it to a private person, that is, you, and you pay her money for this. After a certain period, which is specified in the contract, you can hand over the car to the company or buy it back at a fixed price. This price is determined initially at the conclusion of the contract. I traveled, I liked the car - you buy it, you didn’t like it - you take another one.

But even here the devil is in the details. How much will it cost to own a car? And who benefits from this option? We asked the company that provides such leasing services to calculate the cost of owning a car. They took the same Mitsubishi Outlander 2.0 CVT 4WD Intense, but already 8% cheaper - 1,186,708 rubles. for a car in white color and with a corporate discount to the lessor. It can be up to 15% depending on the brand and model. In addition, a one-time discount on the advance payment in the amount of up to 10% of the car purchase price, but not more than 500 thousand per car. Our discount amounted to 118,679 rubles. Not bad at all, we love discounts! residual value after three years of operation, for which we can buy a car, is 806,244 rubles. Judging by the sites that host offers for the sale of cars, this is very good price for purchase. Let's write it as a plus.

Now about expenses. At the conclusion of the contract, it will be necessary to make a security deposit in the amount of 10% of the cost of the car, or 118,679 rubles. If all the conditions of the contract are met, this deposit will subsequently be returned. What about monthly payments? It depends on several factors: whether we will make an initial payment, whether we take into account the costs of insurance and the term of the contract. In order to be able to compare our three options, we will keep the original conditions: a three-year contract with an initial payment of 500 thousand rubles. and taking into account all the costs of car insurance. The insured is a man aged 45 and with a driving experience of 25 years. If you are younger or have less driving experience, your monthly payments will increase significantly.

In the dry matter

At the first place turned out to pay the entire amount for the car immediately. It is understandable: you do not borrow at interest, you do not need to give anything back. The main thing is to find the necessary amount.

In second place- buying a car using a consumer loan. And this despite exorbitant interest rates! It's all about the absence compulsory insurance Casco. Now it is prohibitive, but if you wish, you can still insure your car on preferential terms, while paying several times less.

Third and fourth places divided among themselves the target credit and leasing. The final amount that the consumer will pay for the car is almost the same for these two acquisition methods. In both the first and second cases, you will have to pay not only the interest on the loan, but also draw up a full comprehensive insurance policy. However, leasing still has a number of advantages over conventional loans. To purchase a car, you need to have only 10% of its value (deposit amount), which will be returned to you at the end of the lease term. The application review process is more loyal, unlike banks, where the percentage of refusals is now more than 60%. Ostap Bender from the novel by I. Ilf and E. Petrov "The Golden Calf" had 400 relatively honest ways of taking money from the population. Now a simple man in the street has three easy ways to buy a car. Which one is the fastest, safest and easiest? Let's try to figure it out.

How to buy a car from a relative, friend or acquaintance by borrowing money from a bank. All the details of obtaining a car loan for buying a car from a private person are in our article.

How to properly check a car

The best option is to buy a car from people you trust. This will avoid trouble after the execution of the contract of sale. You will know for sure that you were sold a car whose history you are familiar with.

If you are going to buy a car from a private person (acquaintance or not), be sure to demand the following:

1. Documents for the right possessions by car. The power of attorney is not valid.
2. Act of technical expertise. To do this, go with the owner of the purchased car to the service station, where employees will carry out a full maintenance. If the car has been in accidents, has serious problems with the engine or body, then an experienced mechanic will determine this in an instant. Even if you do not change your mind about buying such a car, you can count on a reduction in cost.
3. A certificate that the car is not pledged by the bank. You can check it yourself. Just ask the car seller for a passport vehicle and previous sales contract. If the car is pledged, then the current owner of the vehicle will not have the original documents.

Do you see the mark “Duplicate” on the vehicle passport? Perhaps the car is pledged to the bank

Pay attention to the title of the previous contract of sale. If you met the wording “Commission agreement for the sale of a vehicle”, then the car belongs to the bank.

Vehicle Purchase Agreement (click on image to enlarge)

A suspiciously low price on a car can also indicate that the car belongs to a bank.

If everything is in order with the documents and the car itself, then you can take a loan to purchase it.

What documents need to be submitted to the bank

To obtain a loan to purchase a car from a private person, the buyer must submit the following documents to the bank:

1. Copies of all pages of buyer's and seller's passports;
2. A completed questionnaire, which contains data on the composition of the family, the property that you own, education, income;
3. Help in the form 2-NDFL. In some cases, you will be asked to provide a bank statement of income;
4. Vehicle technical passport (PTS);
5. Vehicle registration certificate;
6. A copy of the work book of the car buyer;
7. The conclusion of the technical expert of the service station on the condition of the car;
8. CASCO insurance policy for the entire loan period.

In some cases, the bank may require other documents. For example, bank statements, compulsory health insurance, spouse's or spouse's permission for car loans, information about guarantors, etc. Consideration of an application for a loan can take from two to ten days.

Who can be denied

The Bank has the right to refuse to issue a car loan for the purchase of a used car from a private person if:

• The buyer does not make an initial payment;
• Has a bad credit history;
• Lack of a permanent source of income;
• Low income, which does not allow you to pay the loan.

Alternative solution - consumer credit

If car loans seem too complicated and problematic for you, then there is always an alternative option. You can apply for a consumer loan, which is issued for any purpose. In this case, the buyer will not have to draw up CASCO, provide a package of documents to the bank. Interest rate will also increase, but not by much. This is a great option for buying a car in the secondary market.

We have compiled for you a list of banks that lend to the purchase of a car from individuals, and also indicated the rates for.

Consumer loan rates

Pros and cons of used car loans

Not all banks are ready to lend to the purchase of cars from individuals. And even if the institution agrees to provide such a loan, the rate on it will be higher than for buying a car from a car dealership. So, for example, the rate for the purchase of a new car from an official distributor is 9 - 14%, then for the purchase of a used car from a private person, the interest rate will vary from 10 to 16%.

Now let's take a closer look at the pros and cons of lending to buy a car from a private individual.

Pros:

• Buying a car at an affordable price;
• The ability to buy a car for people with a small but constant income;
• Payment for the purchase of a car in installments;
• The cost of purchasing a car can be calculated immediately;
• No dealership commission.

Minuses

• Higher interest rate;
• The car is immediately pledged to the bank. You will not be able to resell the car until you pay off the loan;
• Additional costs for auto-examination, appraiser, notary services and other costs.

Key Findings

1. If you decide to buy a car from a private person on credit, it is better to take a consumer loan. So you save yourself from collecting a package of documents, you will not make an initial payment and pay a commission to the bank when opening a loan. The flip side of the solution is more high rate on credit.
2. Buy only proven cars, the history of which you know for sure and trust the buyer. Before buying, go through a technical examination, and also check the availability of all documents.
3. You may be denied a loan if you have a bad credit history, low income or other problems.

This is a targeted loan, the money from which can only be spent on the purchase of a vehicle. You can buy both a new car and a used one. But a loan for buying a car from a private seller is not given very willingly and not everywhere, so here it is better to choose a car dealership that sells used vehicles.

An auto loan has several characteristics.

Pledge

Until the loan is repaid, the car will remain as a pledge to the bank. Until then, the vehicle passport (PTS) is most often kept at a credit institution.

Expensive insurance

By law, the pledged property must be insured against the risks of loss and damage. In most cases, banks are not satisfied with the policy - you will have to draw up CASCO.

On average, this increases the loan amount by 10%. On the other hand, if the car was not insured and it was stolen, the borrower still repays the loan in full.

Dmitry Molkov, Director of the Department of Financial Services, AvtoSpetsCentre Group of Companies

Moderate interest rate

Based on statistics, there is no need to talk about a global difference in general. In the first quarter of 2019, the average rate on a car loan was 17.1%, on cash loans - 17.62%. According to the Central Bank, the weighted average rate on loans for a period of more than three years in February 2019 is 12.76% Information on loans in rubles, US dollars and euros, and taking into account car loans already 14.13%.

But the difference will be visible when you start looking at specific ones that are suitable for your situation. The rate on a car loan in most cases will be lower than on a non-targeted consumer loan, since the bank insures its risks with collateral and can afford to offer more favorable conditions.

Who issues a car loan

Even if you apply for a loan directly at a car dealership, the bank with which you sign the contract is still waiting for you at the opposite end.

A credit institution can place its representative directly in a car dealership or act through an intermediary broker who acts as a link. Brokers often send applications to several banks at once and connect you with the one that is ready to issue a loan. But this does not mean that they select the most favorable conditions for the client. But you will most likely have to pay for help.

What are car loans

Auto loans are of several types. When choosing, you will have to focus not only on the desired characteristics, but also on the conditions that you are ready to offer.

1. Classic

Registration takes place according to the standard scheme. You doing . The institution checks your solvency, credit history and decides whether to give you a loan or not. The percentages here will be slightly lower, since your good faith as a client will be confirmed.

2. Express loan

2-3 documents are enough for registration, the decision on approval is made quickly. The risks in this case are balanced by slightly higher percentages.

3. Factoring

This is an interest-free loan with an impressive down payment. If you pay from 50% of the cost of the car or more, the rest of the amount can be paid to.

4. Loan with buyback (BuyBack)

Monthly payments are calculated so that by the last payment you will owe the bank another part of the amount - usually 20-40%. To pay off the loan, you can pay the missing amount yourself or sell the car to a dealer who will pay the rest. The scheme is more often used for status expensive cars.

What are the advantages of a car loan

To consider the pros and cons of a car loan, it must be compared with something. If with a purchase without a loan, then the leader in this race is obvious: the absence of a loan is always better than its availability (but there is a nuance, which is discussed below). Therefore, let's compare it with a regular consumer loan and outline the important advantages.

1. Special price

Often, car dealerships offer special prices for those who take a car loan.

The customer of the bank becomes the buyer of the car, and dealers often give very good discounts to banks. The discount can be up to 10%.

Suren Hayrapetyan, Managing Partner at Rebridge Capital

In pursuit of profit, do not forget about, because of which the actual costs may increase. In addition, promotions usually apply to cars of a certain configuration or require the purchase of options, which in the end can make you spend more than you intended.

But there is a nuance here. If you buy an expensive car, you can always buy it on credit at a discount and repay the loan in full, a month later, without overpaying interest. This will only work if the difference in price exceeds the cost of CASCO and other related costs.

2. Ability to receive assistance from the state

Program Decree of the Government of the Russian Federation of April 16, 2015 No. 364 “On the provision of subsidies from the federal budget to Russian credit institutions to compensate for shortfalls in income on loans issued by Russian credit institutions in 2015-2017 individuals for the purchase of cars, and reimbursement of part of the costs of loans issued in 2018–2020 to individuals for the purchase of cars” soft car loans extended State support for demand for cars and public transport in the Russian Federation in 2019 will decrease by 2.6 times. You can receive from the state 10% of the price of the car to the down payment, and if you live in the Far Eastern District - 25%. To qualify for the program, you must meet one of two criteria:

• this is your first car;
• you have two or more;

There are also requirements for the car you intend to buy. The vehicle must be:

• new;
• Russian assembly;
• weighing up to 3.5 tons;
• worth up to 1 million rubles.

To receive state support, you need to apply directly for a car loan to a bank, but only to a bank that has joined the program.

3. Approval of a larger amount

Non-purpose consumer loan is not secured by anything. The collateral for car loans reduces the risk of non-repayment of money for the bank: in which case it will simply pick up and sell the car. Therefore, the institution may issue significantly larger amounts than it would approve for a loan without collateral.

4. Longer payout period

Car loans are issued on average for a period of three to five years. Banks most often want to receive money issued under a targeted consumer loan earlier.

5. Lower interest rate

If you contact the bank with a request to calculate a consumer loan and a car loan for you, the conditions for the second one will most likely be more profitable - the reason is in the pledge. But there are exceptions, more often than you might think.

The bank may persistently offer you with a certain limit and not approve a car loan for a smaller amount. Just put up with it, because it is impossible to understand - credit institutions do not disclose the criteria for evaluating customers so that fraudsters do not use this information.

What are the cons of a car loan?

Let's compare everything with the same non-purpose consumer credit.

1. Property in pledge

Until you repay the loan and get the TCP, you won’t be able to.

2. Expensive insurance

As we have already found out, you cannot do without CASCO. But sometimes banks impose additional insurance services. Of course, you can refuse, but then you simply will not be given a loan.

In order for the loan to be approved, you can issue "imposed" insurance services, and after receiving the money within two weeks, write an application for refusal of insurance in insurance company. The money must be returned within ten days.

Orest Matsala, Leading Associate, European Legal Service

3. There is a down payment

It's not always required condition when applying for a car loan, but many banks require you to pay some part of the cost of the car. When receiving a non-targeted consumer loan, this is not necessary.

4. There are requirements for the machine

Since the bank takes the car as collateral, it sets the criteria that the car must meet - in order to sell it later if you do not return the money. You can buy anything with the funds from a consumer loan.

What to look for when taking out a car loan

An eloquent seller strongly recommends taking out a loan from a particular bank, and this should alert you: with a high degree of probability, this is beneficial to him, and not to you. Consider more options to choose the best one. And also specify the conditions of a consumer non-targeted loan.

Find out all the conditions of the promotion

The information that you saw on the banner is, of course, true, but not all. In order for the purchase to be really profitable, you must read all the conditions. Otherwise, you may mistakenly spend much more than you planned, and still pay interest on the overpriced amount.

Check for hidden co-payments and insurances

Read the contract carefully and make sure you understand it. This will save you from additional expenses and from problems with the bank if you violate the terms of the contract, which you simply did not read through.

Take a good look at your expenses and income

With a car loan, you need to enter into the budget not only monthly payment, but also related expenses - updating insurance, transport tax, fuel and so on. As a result, expenses can increase significantly and become a heavy burden.

What is the result

1. A car loan is a good financial instrument if you use it wisely.
2. Take a car loan (and any loan in general) - carefully read the contract and specify all the conditions.
3. If you find a consumer loan, the total cost of which is lower than the total cost of a car loan, and the bank approves the amount you need, choose it. Save on CASCO and be able to dispose of the car as you please.