Car loans are one of the most popular banking products on the Russian market financial services. The ability to immediately sit down for a car, having bought it on credit, attracts many consumers. After all, not everyone can accumulate the right amount for such an expensive purchase. On this page, offers of all Russian banks are presented, after studying which you can choose a product with the most favorable conditions.

Under what conditions can I take a car on credit in Moscow

Banks provide loans for the purchase of cars of domestic manufacturers and foreign cars on the following terms:

• term - up to 5 years;
• the average maximum amount is 3-4 million rubles;
• initial payment - from 20%;
• the average interest rate is 10-14% per annum.

The loan is provided for new vehicles and used cars. Banks impose more stringent requirements on those who want to buy a used car on credit. The acquired property is automatically transferred to the bank's pledge. If the borrower fails to fulfill financial obligations, the car becomes the property of the lender. And a used car, as a rule, does not have high liquidity - it will be difficult to sell it for a refund. That is why it is quite difficult to get on favorable terms. One of the requirements of banks concerns the age of a used car: the car must not be older than 5 years.

You can buy a car in the condition of registration of CASCO insurance, and this will significantly increase the size of the loan. Those who want to buy a car without a down payment should not count on low rates and flexible conditions. The rate in this case can reach 25%. In this case, the bank may require the execution of an agreement with the guarantor to obtain additional guarantees.

The standard list of documents for applying for a loan includes:

• the passport;
• application in the form of a questionnaire;
• driver license;
• work book and salary certificate.

Some banks offer to buy a car on credit in Moscow without income statements according to two documents. clients with poor credit history this option will not work - in order to get a positive decision, they need to provide the bank with as many papers as possible confirming solvency and a stable source of income.

How to find a good car loan?

To find out what rates and conditions are offered under the loan program, use the search service on our website. Enter the loan amount and term in the search parameters. Credit calculator based on this data will show:

• a complete list of banks in the capital that are ready to provide a loan for the purchase of a car;
• interest rate;
• monthly payment;
• the approximate amount of the overpayment.

Comparison of indicators of all credit institutions will help to make a choice in favor of a particular program. From our site you can apply for a loan and get a quick decision.

Russian banks lend to the purchase of cars at 5.5–25%. This is a very large range of loan prices, which is useful for everyone to understand. Why are car loan rates so different? When is a loan at 17% more profitable than a promotional loan at 11.9%? What should a borrower who is looking for a cheap car loan know?

Car loan interest rate - base cost loan product. Calculated from the key rate of the Central Bank with an extra charge of a commercial credit institution. It is charged on the balance of the debt, which decreases with each next payment (hence the difference between the actual overpayment and interest).

The interest rate is an integral part of the cost of the loan, but it is not necessary to identify these concepts.

1. Bid – a base that can increase or decrease depending on the terms of the loan and the status of the client.
2. The full cost of the loan is the amount of expenses required for its design and maintenance. In addition to the rate, it may include:
   • insurance costs (up to 3–5% of the loan amount for personal insurance and up to 10–12% for hull insurance);
   • commissions for issuing, processing documents, reserving funds, transferring money to the seller (can be one-time or monthly);
   • the cost of paperwork (notarization of the pledge agreement);
   • additional expenses for compliance with the conditions of the creditor (equipment of the car, technical tuning, purchase of other products of the bank).

The minimum interest rate on a car loan can hide a range of costs (setting an alarm, buying a car in a showroom with overpriced cars).

Therefore, in search of a cheap loan, you need to look not only at interest, but also at the total costs of its registration, use, and repayment.

What and how influences the formation of the interest rate

When calculating the rate on a car loan in a serious bank, only one rule applies: the interest will be the lower, the lower the risk of non-return of money or a return with a delay. But the risk factors themselves are determined by the financial company.

Conditions that are important for everyone:

• the reliability of the borrower;
• guarantees for the creditor;
• fixed income;
• current debt obligations;
• return periods;
• credit amount;
• place of purchase;
• machine characteristics.

Creditworthiness of the borrower

The key interest of any lender is the timely repayment of obligations by borrowers. Therefore, the rate depends very much on the reliability of the client. This reliability is based on several factors:

• payment discipline (payment history for past or existing loans must be perfect, then the rate will be low);
• regular customer status (any bank works with loyalty programs for the internal portfolio);
• solvency control (holders of debit or salary cards with turnover automatically become more reliable, since the lender can analyze their actual receipts and link payment instruments to the loan).

Another point that matters in terms of the reliability of the borrower is his age. Young people of military age, non-working pensioners, girls in the active reproductive stage (no children, aged 18–25 years) to receive the minimum bid difficult. Whereas family people with 1-2 children aged 10-16 are regarded by creditors as exceptionally reliable. For them, the annual interest rate is reduced.

Guarantees

Many banks highly appreciate any evidence in favor of the seriousness of the client's attitude to the debt (guarantee, involvement of a co-borrower, willingness to make a deposit in the amount of 2-5 monthly installments) as a guarantee of timely repayment. Providing a full package of documents also gives responsibility and willingness to cooperate.

Other credit organizations they rely on affiliate programs - they encourage borrowers who agree to buy a car at a partner's car dealership and insure it in a company with which the lender cooperates. Insurance is one of the prerequisites for lending to most experienced lenders. This is due to two reasons:

• compulsory insurance - financial guarantees(repayment of the debt for the client in the event of the death of the car through his fault or without it, timely return of funds in case of disability);
• additional income of the company: insurance partners pay banks a commission from 5 to 30% of the cost of the policy, therefore it is profitable for the bank to sell insurance in bulk.

In itself, insurance often determines the possibility of obtaining a loan. And the lowest car loan rate is available to those who choose attractive (for the bank) policy conditions:

• 100% risk coverage (no franchise);
• Casco insurance + personal;
• car insurance for actual cost(even if it is higher than the loan balance).

Income

Although a car loan is far from card loans in terms of the nature of registration, it is already possible to get it without proof of income and only with a passport. True, at the maximum rate. Because for a credit institution it is a risk.

To neutralize it, you need to confirm solvency:

• certificate 2-NDFL or in the form of a bank;
• statements with turnovers (for 6–12 months);
• documents for an apartment, house, cottage;
• lease agreements for real estate owned by the client;
• employment contract, etc.

The longer the borrower can confirm regular receipts, the more attractive the interest rate will be for him. The same applies to the amount of income. The higher it is (exceeds the estimated amount of the monthly payment by 60-100%), the cheaper the loan will cost.

There is a caveat here: in a serious bank, they look not only at the solvency of the borrower, but also at the logic of his actions.

If a person receives a sufficient salary to save up for a car in 3 months, the bank will doubt the validity of his decision to issue a loan for its purchase for 5 years. Although these points can be explained separately. The lowest loan rate is the result of a dialogue between the client and the lender.

Timing

There is a direct relationship between the maturity of the loan and the price of the loan. The lower the rate, the shorter the period of using the money. But loans up to six months are unprofitable for many banks. Therefore, it is worth focusing on a period of 8–12 months to 36–48. Loans over 5 years are issued under more high percent.

Credit amount

As for the amount, the situation is twofold. On the one hand, the lender offers users a wide choice for a reason credit programs- there are card products for small amounts, and the bank will not set the optimal percentage for a 100,000th loan for buying a car.

On the other hand, a loan of 2–3 million rubles is a serious risk. Therefore, all amounts over 1.5–2 million are credited at higher interest rates than loans of 0.5–2 million.

The borrower can manage the loan amount in two ways:

• through the choice of car (salon);
• through a down payment.

The last condition - an advance payment (part of the cost of transport, which the buyer makes himself) - greatly affects the interest rate on the loan. The dependence is inverse here. The higher the down payment, the lower the rate. Many banks work with a minimum advance of 15-20%. If you increase it to 30-50%, the price of the loan is reduced by 1-5 percentage points.

From private hands or in a car dealership

Banks cooperate with car dealerships of the cities where their branches are represented. Therefore, they offer favorable credit conditions to the clients of their partners. At the same time, a private seller is a risk factor for a lender (there is no certainty in the legal purity of the transaction, in the fully operational condition of the car).

What cars do banks lend at a lower interest rate?

Banks also cooperate directly with automakers. This opens up a lot of prospects for the borrower. There are two options here.

1. Take advantage of the joint program of the selected bank and car manufacturer to get a car at an effective price at a standard interest on a car loan (savings due to the amount).
2. Choose a car from the partner price list and purchase it under the standard program (low rate).

The leaders of the car sales market remain attractive brands for banks: Lada, Kia, Volvo, Renault, Toyota, Ford. Borrowers who buy Chinese and Indian cars will receive a higher percentage (risk vehicles are less reliable collateral for the bank). Exception - Special offers from Chinese automakers (Lifan, SsangYong).

How to get a low interest rate

Summarizing the above, we can conclude that interest rates at the minimum level for a car loan are available:

• Borrowers with perfect credit history. If it is corrupted, it must be corrected.
• Clients aged 27-55. If you do not fall into this category, use a guarantor or co-borrower to get favorable terms.
• When providing a full package of documents with confirmation of profitability.
• When buying a car within the bank's partner network.
• With car insurance (ideally - hull + life and health insurance, but here you need to look at the rates of insurers).
• For the purchase of a liquid car model (popular brands, recognized brands).
• Clients with a history in a financial institution (in the past, the lender issued loans, deposits, cards).
• Holders of salary, pension, debit cards creditor bank or accounts with turnover.
• Clients who are ready to cover from their own funds from 30 to 50% of the cost of the purchased transport.
• In the absence of other large debts (the size of the rate will be the further from the minimum level, the more outstanding obligations the client has).
• Borrowers who are interested in a medium-term loan (up to three years) in the amount of 0.5–1.5 million rubles.

For some categories of clients, the optimal solution is to join a special lending program with state support. According to the rules approved for 2018, it does not imply a reduction in the interest rate (support consists in reimbursement for the buyer of 10% of the cost of the car). But many banks keep the minimum percentage for participants in state programs (at the level of 8.9-10.9%).

The choice of bank is also important. Here you need to look not only at its reliability (large experienced organizations do not practice raising rates after issuance), but also at the credit and deposit policy. Any company works with loans and deposits (with the exception of subdivisions of large groups, like Toyota Bank). And the current interest rates on a car loan in it will be the lower, the lower the deposit interest.

Where to get

In 2018, more than 50 large financial companies issue car loans. In banks, you can get a loan for a new, used, domestic or imported car. Many offer favorable conditions for the purchase of passenger and commercial vehicles. It remains only to choose the best offer.

How to choose a bank?

1. Look at the number of partners. The more of them, the higher the chances of finding the minimum bid for the desired brand. As of April-May 2018, VTB-24 and Gazprombank have the widest partner network.
2. How many programs does the company have? Diversification of offers allows you to choose the best option for a car loan.
3. What rates does the bank offer? It is worth comparing their ranges.

According to independent analysts, the most profitable offer by value, companies from the second ten of the top 50 ratings offer. Among them are of interest:

• Car loans of JSC "Genbank" . Here you can take a car loan without interest, but with a one-time commission of 30-500 thousand rubles, depending on the loan amount. Loans from 0.1 to 3 million rubles are available to the borrower. A down payment of 50% is required. You don’t need to leave the TCP to the bank, but it is necessary to insure the car. Loan term - up to 30 months.
• Special offers JSC "Rusfinance Bank" to buy European or Chinese cars. A car loan for Lifan, for example, can be issued here at 2-5% per annum in the amount of up to 2 million rubles. Initial payment - from 20%. Terms - 1-5 years.
• Citroen and Peugeot Car Loan Partner Program from Bank PSA Finance RUS LLC . The loan is available for all categories of transport of both families at 5-10% per annum. It is possible to lend without a hull, but the rate will increase to 13-14%. Advance payment not required.
• Auto loan for used cars from JSC "Credit Europe Bank" . Rates start at 9.9%. There are programs on two documents with and without casco. Amounts - 0.3-6 million rubles - are issued for 2-7 years.
• Car loans from a growing internet bank "Solid Bank" . The rate starts from 8.9% per annum, the available amount is up to 5 million rubles. With an advance of 70% and a car value of up to 1 million, proof of income is not required (interest remains minimal). Initial payment - from 10%.
• Loan products "UniCredit Bank" . The lender offers amounts up to 8 million rubles for up to 7 years at a minimum 5.17%. There are no commissions, hull and down payment are optional (the rate rises to 12-13%), there is no link to personal insurance.

Auto loans in major banks

VTB 24 in 2017, it occupied a leading position in issuing car loans precisely due to favorable rates.

He offers:

• loans for new cars at 10.1% (the maximum rate is 23–25%);
• used car loans at 9.9% minimum.

There are a lot of products in the bank's product line special programs developed jointly with automakers (Subaru, Mazda, Land Rover and others). For them, the rate starts from 3-5%.

AT Gazprombank the interest rate on a car loan is 12.5%, but it is available when buying a car from the lender's partners. Clients can count on the amount of up to 4.5 million rubles and 5-7 years of using the loan.

Uralsib issues loans at 9.9% (new vehicles) and 12.5% ​​(used). The advantages of the lender include minimum requirements for the length of service of the borrower and an accelerated registration procedure. The partner network includes more than 20 car dealerships and 10 major automakers.

Based on the average conditions for car loans, in order to obtain the most favorable conditions, it is necessary to adhere to three main nuances.

The first installment must be the maximum. For example, the difference in the rate at Rusfinance Bank, when the client pays 20% and 50% of the cost of a new domestic car at the expense of his own savings, is 2% per annum.

It is necessary to prepare the maximum set of documents, often including a state-recognized income statement 2-NDFL. For example, in the case of documentary evidence of income, Loko-Bank sets a rate of 1% less for all its car loan programs than under the terms of the “2 Documents” offer.

Purchase of insurance. This item requires an individual calculation. What is more profitable - to buy personal insurance and / or CASCO, lowering the rate, or refuse, saving on the insurance premium. For example, VTB 24 has a significant percentage difference under the Driver program. In the absence of personal insurance of the borrower, the rate is higher by 4% per annum.

Additionally, it is worth considering the nuances of the offers of the selected bank. For example, most commercial structures provide discounts to their customers who receive wages to their account or previously repaid the loan. Also, advantageous offers are used under specialized car loan programs developed jointly with dealers or with the use of state subsidies.

What is the maximum overpayment for a car loan?

Considering that auto loans must meet the requirements federal law No. 353-FZ of December 21, 2013, for them the Central Bank determines the maximum level of total cost (TCP) on a quarterly basis. This indicator most clearly determines the final overpayment. Subject to timely repayment of the debt.

The regulator divides car loans into two types, determining the maximum overpayment that can be applied by banks under agreements concluded during the period of the established restrictions.

For new cars with mileage up to 1000 kilometers.

For used vehicles with mileage over 1000 km.

For example, for the second quarter of 2018, the maximum level of TIC is 18.519% (for new cars) and 26.183% (for used cars).

What car loan programs are the most profitable in banks?

by the most profitable programs car loans are currently developed by banks together with official dealers. Moreover, such offers are attractive not only because of the lower interest rate. Often, other loyal conditions apply. For example, a reduced down payment or no need to document proof of income.

After that, there are programs with state support. They have a cap on the maximum interest rate. It is 17% per annum. Although this indicator is insignificant, it is still less than for standard offers for purchasing a car using credit funds.

The conditions for car loans for new vehicles differ slightly. In comparison with joint offers of credit institutions and dealers. The use of these programs creates the most liquid collateral. That is, the bank reduces the risk of default on the loan. Accordingly, he can offer more favorable terms for a car loan.

The highest rates are set for used car financing programs. The implementation of this collateral, in case of violation of the terms of the loan, will be more difficult for commercial structure. Therefore, the risks of default increase, provoking the need to raise the rate. It is also worth considering that CASCO for used vehicles is more expensive, due to this, if there is a condition for the mandatory purchase of insurance, the final overpayment on a car loan can increase significantly.

Many dream of a new car, but their own funds for such a large purchase are often not enough.

In such cases, credit programs come to the rescue.

Their choice is now extensive, each with its own conditions, advantages and disadvantages.

This article will help you decide which loan is more profitable to take to buy a car in your case.

For those who want to take a loan to buy a car, a large number of programs have been developed:

Consumer credit - a loan that is issued for the purchase of durable goods, including cars. It is possible to sell with a deferred payment or provide cash for the purchase of goods.

It happens targeted and non-targeted, when, in case of approval of the loan, a person has the right to spend the issued money at his own discretion.

Advantages

Customer credit - profitable option to buy a car. There are a number of reasons for this:

• car dealers often encourage customers who pay in cash;
• there is no need to buy CASCO, which is required by many creditors - you can save up to 15% of the cost of the car;
• the dealer is not tied to a bank, so the buyer has the right to choose where to get a loan and from whom to buy a car;
• the machine immediately becomes the property of the buyer, who can dispose of it at his discretion.

Another plus consumer credit is that it is not always necessary to provide it. This saves time and money on paying for property valuation services.

When providing collateral, the bank can lower the interest rate and make other conditions more favorable.

Flaws

In the absence of collateral, it is more difficult to get a loan, and even if it is approved, interest rates are higher.

Guarantors are still required, and when requesting an amount of more than 300,000 rubles. for personal needs, the guarantee of the organization is required.

Also, to obtain a large consumer loan, you need various documents, certificates from the employer. For those who receive a gray salary, and for pensioners, this type of loan for the purchase of a car is not available.

Car loans

Car loan - a type of targeted loan. This is a state loan that is issued for the purchase of a specific product - a car. After signing the contract, the buyer can immediately use the vehicle.

pros

Many are interested in whether it is profitable to take a car loan or is it better to use a consumer one.

It has several advantages:

1. Low down payment - usually up to 30%. Sometimes it reaches 50-70%, but in such cases interest rates are reduced.
2. There is no need to look for guarantors.
3. There are preferential car loan programs that allow you to get a profitable loan at minimal cost.

Minuses

A significant drawback of car loans is the ability to purchase only the car that the buyer has chosen in advance. Another required condition- the car dealership must cooperate with the selected bank, otherwise the loan will be denied.

When applying for any car loan, you must purchase CASCO, which entails considerable additional costs. Insurance will have to be paid every year - such a condition is included in the contract.

Some banks limit the number of drivers that are allowed to be included in the insurance.

The car is pledged to the bank until the moment full repayment loan. This means that it will not be possible to sell or exchange it if necessary.

Making a car loan in the salon

Consider where it is better to get a car loan - at a bank or at a car dealership. In reality, these options have little difference.

Dealers offer regular loans that are taken from banks. Money is given at interest on the purchase of a car. The less the lender is sure of the return of funds, the more the buyer will have to overpay.

Advantages

Still, there are some features of obtaining a loan in a car dealership.

The advantages for the buyer are obvious:

• convenience - everything is arranged in one place;
• saving time - no need to spend it visiting other organizations;
• discounts, bonuses, gifts - often car dealerships offer free optional equipment for those who make a purchase on credit;
• favorable lending conditions - usually these are reduced rates, but you should carefully study the contract and evaluate the real overpayment.

Weak sides

The car dealership acts as an intermediary between the buyer and the bank, but he always takes care of his own benefit. Therefore, there are also disadvantages of obtaining a loan through a dealer:

• limited choice of credit programs - because of this, the conditions for the buyer may not be the most favorable;
• the inability to choose a bank for obtaining a loan - due to the deliberate actions of car dealership employees or their inattention or negligence;
• expensive insurance - a certain company is imposed on the buyer, which offers not the best conditions.

"Underwater rocks"

Some car dealers go for tricks when selling cars: hide real price until the last moment, they impose additional equipment, you can even run into scammers.

Lending conditions are not advertised, which makes the loan unprofitable, although people also face this problem when visiting banks.

In order not to fall for the trick and not overpay too much, carefully read all the documents that you are going to sign.

Contracts in car dealerships are drawn up by competent lawyers. If the client signs the document himself, it will not be possible to find fault with the dealer and his actions.

Ads give the false impression that car dealers provide loans for their cars.. At first, it seems that banks are not even mentioned.

In fact, to conduct financial activities, you need to obtain special licenses; organizations in this area are subject to special requirements.

Therefore, loans are issued by specialized institutions - in small print on the website or in the advertising brochure it is always written which bank provides the service.

Some automakers have so-called captive banks: Toyota Bank JSC, Volkswagen Bank RUS LLC.

Nevertheless, these are separate companies that conduct exclusively financial activity. They are united with dealers by only one founder, and even then not always.

Special lending programs from car dealerships

In 2019, the trade-in and buy-back programs offered by car dealerships are becoming more and more popular. In some cases, they really turn out to be beneficial for buyers.

According to the rules of the program, the first payment on the loan is the cost of the old car.

Significant benefits for the buyer:

1. Easy and fast replacement of a used car for a new one.
2. Save time - no need to sell, look for buyers on your own.
3. Diagnostics of the car in the showroom, the possibility of a test drive - this eliminates the risk of getting a low-quality car.

The program also has disadvantages.. You can buy only one of the cars that are available in the showroom, and this seriously limits the choice.

And the dealer buys an old car at a price 10-15% lower than the market price.

The program assumes the presence of a deferred payment, which is paid by the buyer or car dealership.

The scheme is as follows: a loan is issued with standard conditions for 1-3 years. The down payment is 15-50% of the cost of the car, and monthly payments are calculated so that by the end of the loan term, 20-40% of the amount remains unpaid.

The buyer has the right to pay the last, deferred payment in order to keep the car. He can also sell the car at this stage, pay off the debt from the amount received, and use the balance as a down payment on a new car.

If the buyer wants to keep the car for himself, but he is unable to pay off the deferred payment, the bank can extend the loan term. In this case, you will have to pay additional interest.

The buy-back program is optimal for those who like to change cars, constantly acquiring new car models.

The benefits for the buyer are obvious:

1. Due to the last large installment, the monthly payments are lower.
2. You can sell the car when not all the debt has been repaid, and pay it off later.
3. After paying off the deferred payment, you can dispose of the money from the sale of a car at your discretion.

The disadvantages of the program are also quite significant:

1. Despite the lower monthly payments, the total overpayment is higher than for a conventional car loan.
2. You need to drive a car very carefully so that its market value does not decrease.
3. A prerequisite is full payment of CASCO and OSAGO.
4. Car service is possible only in official service centers.
5. Permanent credit dependence: the rest of the sale of the old car is used to pay off the first installment on a new one, and so on in a circle.

In the West, leasing a car is very popular, since this method allows you to get a car without first accumulating money. In Russia, there are much fewer people who want to use this scheme.

The essence of car leasing is that a person takes possession of the car for a while, regularly making payments for using it. Long-term car rental is issued easier and faster than a loan, this requires a minimum package of documents.

Other benefits of car leasing include:

1. The ability to choose any car that the leasing company will buy you.
2. The leasing company is also involved in registration and insurance.
3. Payments are much lower than under any loan agreement.
4. The amount of regular payments depends on the initial payment and the residual value.
5. At the end of the contract, the car can be bought back or returned to the leasing company.

Which loan is better to take to buy a car depends on the individual and his goals.

If you want to buy an expensive car, it is more profitable to take a car loan, and to buy a used car or a new, but inexpensive one - a consumer loan. Leasing will be an excellent solution for a person who does not plan to buy a car for a long time.

Before buying, you should carefully analyze your goals, financial capabilities and offers from different financial institutions. This will help you choose the best loan program.

An article on how to get a loan to buy a car - how to choose a bank for a car loan, different types loans, auto insurance, important points and tips. At the end of the article - a video on how to avoid fraud when obtaining a car loan!

The content of the article:

Today, buying a car is becoming more and more commonplace. For many families, a car becomes a necessity in everyday life. According to Autostat, almost every second car in Russia is purchased for borrowed funds. A car loan is getting more affordable year by year.

If the borrower meets the requirements of a credit institution, it will not be difficult to get a loan to purchase a car. There are almost always three requirements:

• Registration or registration on the territory of the Russian Federation and the availability of documents confirming it;
• Permanent and regular income in an amount sufficient for a monthly payment;

A potential borrower must have a constant and stable income. The salary presented in supporting documents plays an important role. The planned monthly payment cannot exceed 50% of the income received. However, a loan can also be obtained with a small personal income by attracting a co-borrower (a close relative, for example, a spouse).

Getting a loan is easy. Let's discuss how to properly take a loan to buy a car, so that later you do not regret the concluded agreement.

Different banks - different requirements

Today, if you try, you can get a loan for almost any car - brand new and used, domestic or imported. Various credit organizations provide loans for all types of transport. In order not to receive unpleasant surprises later, before concluding a transaction, you should carefully read all the details of the document being signed.

A stable pattern is noted - stringent requirements for the selection of a creditor are combined with favorable conditions. Conversely, softer requirements are always combined with a high interest rate, additional costs from the groan of the car buyer.

For example, VTB and Sberbank consider applications only with official paper (2-NDFL) confirming the solvency of the borrower. The extended package of documents provided will allow you to count on a more favorable percentage.

The opposite position is taken by CreditEvorBank and Russian Standard. A loan can be issued to almost any citizen of the Russian Federation, while the percentage will be higher than the average. The use of such tactics allows banks to compensate for losses from defaults.

The tactics of banks in relation to sellers also differ. More conservative lenders prefer to work with official regional dealers. Others take this criterion into account little, but subject to the completion of the transaction with the intermediary of a car dealership, which in this case acts as a kind of thrift store. This option of the transaction will require additional time to carry out full diagnostics and inspection of the car.

The most conservative lenders are ready to issue funds exclusively for the purchase of new cars; used vehicles are not considered by them. Others lend to deals on 3-5 year old cars. With some diligence, you can find a credit organization for the purchase of a car with 10 or more years of experience. Benefit from such a deal is very doubtful.

Getting a loan approved for a brand new or older car is two big differences. A car is considered new without a run, the last 2 years of production. Banks are willing to lend for the purchase of a new car. The whole procedure of five successive stages will take a few days or hours, depending on the type of loan:

• In the salon, choose your favorite model;
• We conclude contracts for the sale and purchase and insurance;
• We go through the procedure for obtaining a loan and sign a pledge agreement;
• We transfer money to the car dealer's account;
• We pick up your car according to the act of acceptance and transfer.

If you plan to purchase a used car, the lender makes additional requirements. Firstly, not every used car will be accepted by the bank as collateral. Among the traditional requirements for vehicles: mileage up to 100 thousand km, age by the time the loan payments are completed - up to 8 years. For imported cars, an additional requirement: confirmation of import into the country by an official dealership and the availability of documents for customs clearance.

If the goal is a loan to purchase a car from a private person, then an intermediary is required - entity. The transaction will include additional stages associated with the need to hand over the car before buying it in a specialized car thrift store. His role can be played by a car dealership.

The bank takes 2-3 days to consider the application. The next three to four months is the approval period, if necessary, it can be extended. Usually, this requires bringing fresh documents confirming solvency - a certificate of income, etc.

Advantages of transactions through a bank and a car dealership

Modern technologies allow you to get a loan at the place of purchase of the vehicle. This significantly saves time and saves the buyer from additional running around the banks. However, most car loan buyers prefer to apply directly to banks. The final decision is determined by the degree of satisfaction of the needs of the borrower.

If only the lowest rate is important at this stage, then a direct appeal to a credit institution will allow you to get a loan at a 1-1.5% lower percentage, but in combination with an expansion of the requirements for a package of documents and, possibly, with a larger down payment.

Car dealerships usually cooperate with several banks. If you look patiently, you can find promotions during which car dealers offer certain brands on credit at a rate lower than usual by 3-5%. No other bank can offer such conditions. It is a pity that such actions are rare.

Impatient and economical can take advantage of express loans and loans without insurance from banks. The former save time, the latter save money. But. If you look closely at the conditions, then the benefit received does not look so attractive.

Almost any car dealership has the possibility of obtaining an express car loan. Half an hour to an hour after the presentation of two identity documents (one must be a passport), a loan is issued for the required amount, and you can go home in your own car.

Due to the increased risk on the part of the bank (the solvency of the borrower is checked superficially), the bank raises the interest rate from the standard one by 0.5-2%. Also, the requirement for the initial contribution increases by 10-20%. The maximum loan amount and repayment period may be reduced.

If there is no time to collect documents confirming solvency, you can calculate the amount of overpayment.

Car loan insurance

Auto lending is a mortgage operation. The purchased car remains a pledge until the full repayment of the amount taken. Passport for vehicle after registration with the traffic police, it is transferred to the bank for storage until the loan is paid. In case of improper fulfillment of obligations by the debtor, the car can be seized and sold to pay off the debt on the loan.

However, cars break down, suffer in an accident, are stolen. Therefore, many credit institutions prescribe obligatory registration CASCO insurance. The insurance policy gives advantages to both the bank and the new car owner. In case of damage to the car, the car owner receives payments for repairs. If after the accident the car cannot be restored, then the insurance company will pay part of the outstanding debt.

The disadvantage is often a strong recommendation by the creditor of an insurance company with suboptimal conditions. It comes to statements by bank representatives about the possibility of signing an agreement only if the partner company has insurance. The legislation of the Russian Federation stipulates the consumer's right to choose a company for CASCO. Knowing your rights will save you money on insurance.

You should not hastily refuse the recommended insurance company. Preview the offers of competitors. Conditions in fact can be not only competitive, but also the best. Some banks include insurance payments in the body of the loan, but often this is combined with an increase in the down payment.

A group of banks provide loans without a mandatory insurance policy. The only requirement is the presence of 30% of the cost of the purchased car and annual percentage increases by 5% (18.5% versus 13.5% with insurance).

It should be borne in mind that car repairs without insurance in full will fall on the shoulders of the owner. The dubious benefit of saving on refusing to take out an insurance policy for a credit car can result in significant financial losses later.

If the buyer does not have the funds for insurance, the bank may offer a loan that includes the payment of insurance. The loan amount may include CASCO and OSAGO payments for the entire loan term or only for one year. Banks usually provide such an opportunity with an increase in the down payment by 10%.

"Interest-free loan

Following the loan without insurance, "interest-free loans" become another trick. At its core, an auto loan at 0% is an installment payment. Relatively recently, banks traded with such proposals. Now this trick is used by many car dealerships.

Care should be taken when entering into a free loan agreement with conditions similar to a traditional loan. Any trade must bring benefits to someone. After signing the installment plan, the car does not belong to the buyer. Until full settlement, the car is the property of the lender. Any minimal violation of the terms of the contract may serve as a reason to take the car from the borrower.

Such a loan can be provided by an official dealer for a car without mileage. In this case, the size of the down payment can reach up to 30-40%. Bid compulsory insurance also usually overestimated by 2-3%.

Attractive from the outside, a free auto loan, when checked, turns out to be far from a fairy tale. If you have not yet decided on an installment scheme, then consider the possibility of installment payment as a last resort.

buy-back system

Still unusual is the car loan system with deferred repayment and the possibility of repurchase (buy-back). In this case, the entire loan amount is divided into two parts:

• The first is subject to monthly redemption in the same parts according to the annuity scheme;
• To extinguish the second, there are additional possibilities.

At the conclusion loan agreement arranged with the dealer preliminary agreement purchase and sale. After the end of the loan repayment, the borrower sells the vehicle to the dealer on the terms and conditions previously drawn up. The funds received are used to pay off the debt on the loan.

When concluding such an agreement, the dealer usually clearly specifies the requirements for the returned car. If any condition is violated, the dealer has the right not to buy the car.

The borrower, if he does not want to part with his car, has the right to pay the entire missing amount.

With this form of loan, deferred debt can reach 20-50%, monthly payments are less than with a car loan with basic conditions. However, interest costs are higher, because in a standard loan they decrease as the remaining amount decreases, while in the buy-back system, the amount of payment until the last month remains the same.

Such a car loan system is attractive for constantly changing cars. Under this system, only the purchase of foreign cars is available and not in all car dealerships.

Car lending has a lot of subtleties and pitfalls. A few tips will help you go from getting a loan to buying a car with a minimum of emotions and finances:

• Assess objectively your financial capabilities, decide on maximum amount, which you are ready to transfer monthly to pay off the debt;
• Study all available sources of information about the conditions of loans provided: banking programs, promotions and offers from car dealerships. Before making a final decision on concluding a deal, you need to carefully study the maximum number of offers on the market. The more information you have, the more suitable offer you will choose;
• First you need to calculate the cost of processing a loan agreement. It includes: initial payment, the cost of issuing funds, insurance payment, Unexpected expenses;
• Particular attention at the conclusion of the contract deserves sections written in small. If there are points that you do not understand, do not sign the documents until the unclear places are clarified. It is better to move the conclusion of the deal a little, than to bite your elbows for years later.

Compliance with these simple rules will allow you to enjoy your purchase. The right loans for you to buy a car!

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