What you need to buy a car on credit. How to get a car loan in the bank: the specifics of obtaining

To take a car loan for a used car, you need to meet certain conditions that are put forward by the creditor bank. What is at stake and in which banks is it worth to get a profitable loan, we will consider below.

General Provisions

Note that before buying a used car on credit, the future owner must find a special company that works directly with the bank and has partnerships with it. One of such organizations is an automobile salon providing cars according to the trade-in scheme.

It turns out that the choice of the car owner is limited. In addition, car dealerships do not work with all banks, but only with certain financial institutions. This reduces the likelihood of finding a really profitable offer. Cooperation with private individuals disappears, because banks do not provide car loans.

Terms of receipt

Now we will consider the main question, on what conditions do credit organizations give a car loan for a used car. As noted above, one of them is cooperation with one of the car dealerships, because when buying from individuals, the risks are extremely high. There are two options left - to issue a target car loan or go to the dealer.

If you have chosen to apply for a used car loan with a bank, be prepared to observe the following conditions:

1. The transaction is carried out only in the car dealership.
2. The age of the machine, as a rule, has limitations. Most often, the bank does not finance the purchase of cars that are older than five years or have a mileage of 100 thousand kilometers or more.
3. Vehicle insurance is required. If the service is not provided, the bank engages an independent appraiser. The latter calculates the cost of the car, and taking into account the price received, a deal is made. Interestingly, the payment for specialist services is also made by the buyer.
4. Initial payment - from 15% of the loan amount.
5. Payment of a loan commission (from several thousand rubles or more).
6. High interest rate (this parameter is greater than when applying for a loan for a new vehicle).

It is worth noting that the choice of used cars in dealerships is small, so buyers, as a rule, have to line up. We must not forget about the features of car lending. As noted, in most cases a used car upon purchase will have to be insured under CASCO (including against theft). The vehicle itself until the full payment of the funds will be in the possession of the creditor (banking institution), and the buyer acts as the user of the car. This means that there may be problems with the sale of the car until the debt is fully repaid, and this will be unacceptable.

In recent years, banks have been offering credit services without hull insurance. In this case, the buyer’s expenses are reduced, but the car will still be pledged to a financial institution. The disadvantage of loans is the higher interest rates, which rise by 1-2%.

In general, the rate on a car loan for a used car varies greatly and ranges from 13 to 26 percent per year. Advance payment also varies depending on the banking institution - from 15 to 50 percent. Here a lot depends on the conditions of the credit institution, as well as the type of vehicle.

There is another option - registration of a consumer loan (issued for any purpose). In this case, the bank does not care what the client spends the money on. The risk of non-return increases, so the interest rate also increases. On the other hand, a lot of possibilities for choosing a car in the secondary market open up for the buyer. There is also no need to apply for a CASCO, and the vehicle itself passes into full ownership.

From the above, we can summarize. If you need a small amount to buy a car, you should not go to a car loan. The best solution is to get a consumer loan for any purpose. This is true when the required amount does not exceed 100-150 thousand rubles.

If you need from 300 thousand rubles or more, problems can arise with a loan for any purpose. The reason is that the banking institution wants to see guarantees of the return of funds and solvency of the client. That is why an income certificate or some kind of security deposit is often required to receive money.

In practice, the same person can receive a car loan for a used car in the amount of 600 thousand rubles, but he may be denied the same amount for any purpose.

Which bank to apply for a car loan?

To get the best conditions and speed up clearance, you should contact a payroll bank. In this case, the financial institution sees the borrower's income and may offer more favorable conditions. If there is no such bank, you should not get a loan from the first lender who approved the application - analyze the market, select the best offers, specify interest rates and read the contract. After studying the conditions of several lenders, you can make a better decision.

To date, the best lending options are offered by the following structures:

• Absolut Bank grants loans in the amount of up to 1.7 million rubles at a rate of 12 to 17.5 percent. In this case, you can arrange both domestic and foreign cars.
• Obverse. The amount issued to purchase a car depends on the conditions. The interest rate is in the range from 14 to 15.25% per year.
• Agropromcredit provides loans up to 2.5 rubles and at a rate of 13 to 19 percent.
• Uralsib issues up to 3 million rubles (including in dollars or euros) with a rate of 10.5 to 17% for a period of up to five years. The peculiarity is that you can only buy a foreign car.

In addition to these banks, Sobinbank, Soyuz, UniCredit Bank, Agroros, Energotransbank and others offer good conditions.

Summary

If you already have savings for the purchase of a used car, and for the final transaction some 120-150 thousand rubles are not enough, it is better to get a loan for any purpose. This option will be preferable. If you have only a small amount on hand, the only solution is to apply for a car loan. But here do not be lazy to spend time searching for more advantageous offers.

According to statistics, every fourth resident of the Russian Federation is the owner of his own car. It is easy to calculate that ¾ of our compatriots have no cars so far. Do they have a chance to transfer from public transport to personal? You can buy a car with the help of profitable car loans at banks.

What is a car loan? These are funds borrowed from the bank for the purchase of a new or used car. Due to the fact that the purchased car is the guarantee, the buyer gets the opportunity to buy a car even without a down payment. Weighing the need for a car loan, it is necessary to consider not only the cost of the car, but also:

• annual interest;
• loan repayment period;
• commissions for bank services;
• penalties for possible late payments.

If you bought, you can use it personally, but you cannot sell, change or give it without the permission of the bank. Credit programs are issued both at banks and at car dealerships. Throughout the entire period of debt return, a certificate of registration of the machine will be kept at the bank. Requirements for the borrower are familiar:

• working age (21-60 years);
• citizenship of the Russian Federation;
• registration in the region where the bank is located;
• term of work in last place at least 3-6 months and income;
• guaranteeing timely payment of monthly payments.

1. Car loan: pros and cons.

Car loans have several advantages. Among them:

• buying a car in the short term with or without small savings (the basic requirement is a sufficient monthly income);
• preferential terms. The state encourages the population to purchase vehicles of domestic production and assembled in Russia. Moreover, a certain part of the interest on the loan is compensated to the owner of a new car from the state budget;
• a long payment period - from a year to 5 and even 7 years.

But you can’t do without minuses. The disadvantages of a car loan can be considered:

• strict requirements for borrowers;
• the risk of losing the purchased car, since it is the vehicle that is the guarantee of the return of the debt;
• availability of responsibility: most banks require the customer to purchase a “CASCO” policy, because of which costs can increase by about 10-15%;
• the initial contribution amount is from 10 to 30% of the cost of the car;
• in the absence of a customer contribution, the interest rate on a car loan increases significantly;

The process of applying for a car loan takes from several days to two to three weeks. Express loan has a higher interest rate. You can issue it in just a couple of hours, but not everyone can afford an annual loan rate of 29%.

Thus, a car loan is a good tool for acquiring a car. Only the potential buyer should be sure that his income is enough to pay off the debt. Due to the instability of the financial situation, an increasing number of people who want to get their own vehicle draw up car leasing. This is a long-term rental car with option to purchase.

2.: pros and cons.

This service is currently provided by leasing companies and banks. For leasing you will need:

• passport;
• certificate of employment;
• driver's license;
• down payment - 10–45% of the cost of the car.

A service without a fee involves the collection of a more extensive package of documents. Usually a car is leased for a period of one to 5 years. A car is bought by a leasing company and it is its owner until the end of the contract. The client uses the vehicle on the basis of a general power of attorney. In this case, you will need to purchase a CASCO insurance policy. The car is registered with the traffic police and a vehicle inspection is carried out by a leasing company.

After the lease expires, the client has several options:

• pay the remaining cost of the car and become its full owner;
• return the car to the leasing company;
• renew contract;
• to draw up a new contract for another car.

The undoubted advantage of car leasing is that it can be issued to those to whom the bank refused to issue a car loan. In this case, the client does not have to provide a deposit or guarantor. In all likelihood, in the near future, such schemes for buying a car will become quite popular.

For a number of reasons, a bank loan may not be issued. This is an economic crisis, and the lack of income of the borrower, and his lack of collateral. In this situation, car leasing is the best way out, and you can arrange it in just a few hours. In addition, banks increase interest on car loans, and rates in leasing companies remain unchanged: 11-14% in dollars and 18-20% in national currency.

When registering a car for leasing, you will not have to immediately pay a large amount for its registration and insurance. 3% tax to the pension fund, 8% property insurance, payments to MREO, inspection and transport fees are evenly distributed over the entire payment period. It will be necessary to pay only the state fee for notarization of the contract - 1% of the cost of the car and the commission of the leasing company / bank.

The undoubted advantage of leasing is the absence of penalties for late payments and the provision of free additional services by companies such as ordering a tow truck or partially paying for a hotel room.

For objectivity, it is worth mentioning the disadvantages of leasing. For example, leasing companies may limit the ability to upgrade a car or require the use of a specific service center.

3. Deposit programs.

Another alternative to car loans is to save money for the car yourself. For those who do not like to live in debt and are wary of unforeseen situations, the safest way is to save money. To speed up this process, you can take advantage of the offer of banks and credit organizations.

If you make a deposit with a good annual rate and monthly interest capitalization, then for a couple of years you can accumulate a sufficient amount for the car. In this case, you do not have to overpay interest on loans and incur large expenses for car insurance.

It is difficult for inexperienced consumers to delve into the intricacies of bank loan programs. To understand this issue, you can compare a car loan and a consumer loan, issued for a three-year period.

For example, the client’s goal is to buy a new car worth 500,000 p., And 200,000 p. he already has a down payment. Thus, it is necessary to borrow 300,000 rubles from the bank. In order to get a consumer loan, you do not need to report to the bank for its appointment, but you will have to prove solvency.

Since the average monthly payment will be about 10,000 rubles, the borrower's salary should be at least 30,000 rubles. Otherwise, the bank will require a surety or pledge. If you can find a loan at 10% per annum - the total overpayment will reach 48 529.70 r.

Car loan - a targeted loan, the guarantee of repayment of which is the car itself. Banks offer two lending options: with and without government subsidies. When buying a car assembled in the Russian Federation, you can get a discount - a reduced interest rate (5.5-12% per annum). In this case, the overpayment will be about 32,136.84 rubles, and for a car loan without state support - 38,465.90 rubles. The figures show that a car loan is more profitable than a regular bank loan.

Which car loan is more profitable: in foreign or domestic currency?

Having decided to buy a car on credit, you need to prudently approach the choice of currency. What is more profitable - a currency or ruble loan? Banking experts recommend issuing a loan in the currency in which it will be more convenient to pay. You should focus on banknotes with which you receive wages or other income. This will reduce the risks of currency fluctuations and save on conversion.

Currently, interest rates on loans in national currency are higher than in dollars due to the depreciation of the ruble against the US currency. It is more profitable to take a short-term loan in dollars, and a long-term loan in rubles. When the economic situation is stable enough, a car loan in foreign currency is more profitable, since interest rates on it are usually lower than on ruble loans.

How to get a profitable car loan: instruction

If you rephrase the famous saying, the fish is looking for where it is deeper, and the buyer - car loan, where it is more profitable. Car loans can be issued at a car dealership or at a bank. Of course, it is more convenient to conclude a contract on the spot. But often sellers offer a limited selection of banks with which they cooperate, and the cost of a loan from them can be quite high. It is much more profitable to choose the suitable option, using car loan calculators common on the network.

For a deliberate purchase of a car on credit, you need to take a number of actions:

1. Define the object of lending. Interest on a new car is slightly lower, but its cost is higher. A used one costs less, but the interest rate is higher.
2. Decide on the size of the loan.
3. Calculate the allowable monthly payment. You can use a loan calculator.
4. Agree with guarantors and agree with them loan conditions.
5. To study the situation on the market, choosing 5 - 6 of the most attractive programs. This should be done taking into account the interest rate, additional payments and expenses (consideration of the application, assessment, insurance, bank commission for providing a loan, etc.)
6. Compare loan program terms: term, overpayment, repayment methods, etc.
7. Collect documents. As a rule, to obtain a car loan, the following list of documents is required: a statement in the form of a bank; passport of a citizen of the Russian Federation; certificate 2-NDFL (issued by the accounting department of the employer); photocopy of work book; driver's license (if any).
8. Submit an application to the preferred banks (at the branch or on the website). If you get a few positive decisions, you can choose the most suitable.
9. Get a loan decision.
10. Pick up a car. Of course, you can do this in advance, but only after a positive decision is made, you will know the amount of the loan, the bank's requirements for the car and the procedure for paying off debt.
11. Sign an agreement with the bank, making sure that all conditions are clear and transparent to you.

Important criteria when choosing a profitable loan:

When receiving money on credit, the client will require additional amounts for the purchase of insurance and payment of all commissions. Based on this, it is necessary to clearly define your financial capabilities.

Which banks offer the most profitable car loans? *

Since a car loan is issued for several years, it is safer to cooperate with a stable, trusted financial institution. The terms of the loan may vary by region. As for the capital, at the moment several banks offer favorable conditions for car loans.

Here are some of the most profitable car loan programs. In determining them, a low interest rate, an acceptable down payment, the absence of hidden fees and loyal customer requirements were taken into account.

1. Moskommertsbank offers to buy a new car with compulsory life insurance at an interest rate of 10.5–13.5% and a down payment of 10%.
2. With a standard car loan, Cetelem Bank makes it possible to buy foreign cars with an initial payment of 15%, at a rate of 10.9-19.5%.
3. The rate of Prestige car loan of Promsotsbank is 11-15.5%, and the down payment is from 15%.
4. Europlan Bank also offers good conditions: the rate when buying a new car will be 11.4-18%, the down payment is from 10%.

It is worth discussing another new “pitfall” of lending - zero car loan. For example, in the US, a potential client is offered two ways to buy a car on credit:

• or at its market value with further interest payments,
• or at a price that already includes bank interest.

Thus, the buyer has a choice: spend the bulk of the money right away or later.

In the UK, banks generally cannot “lure” borrowers with interest-free loans. Most car dealerships attract customers using this marketing move. But this foreign innovation is proposed in the Russian manner. Common sense should suggest that the bank simply cannot afford to set a zero percentage on loans issued, because it is not a charitable organization. Therefore, it should be expected that interest is already included in the price of the car.

How does this circuit work? For example, a dealer may offer to issue a loan to purchase more expensive versions of this brand, assuring that there are no cheap ones left. For opening a credit account, the client will pay not $ 100, but one and a half to two times more. Subsequently, it turns out that he will have to pay monthly interest on servicing this loan (0.2 - 0.5%).

It is not uncommon for a bank to try to hide its interest. For example, it establishes an obligation for customers to pay a one-time commission of 3% of the total cost of the loan or to make periodic monthly commissions - up to 1.2% of the initial loan amount. Simple estimates will show that in this situation the bank will earn not just the standard rate of about 14.4% per annum, but all 18-20%. Where does this amount come from?

When taking a standard car loan, the annual interest rate is accrued only on the non-repaid amount of the loan. This amount, of course, decreases annually. But the monthly commission is a constant value, which throughout the entire term remains unchanged. Therefore, strangely enough it sounds, only rich people can afford “zero credit”.

For those who turn to lending 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 repaying a loan, etc. For others who have already used consumer credit, it will not be difficult. In the case of a car loan, the bank has more guarantees of repayment of funds than when issuing a loan on a tablet, as it will.

The main and perhaps the main obstacle to obtaining a car loan is a bad credit history. But 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 you don’t have one, then the procedure for obtaining is reduced to a simple sequence of actions:

1. Preparation of documents and an application for a car loan,
2. Obtaining a decision with an approved car loan amount,
3.   , registration of the contract of sale, making the first installment,
4. Conclusion of a car loan agreement with a bank,
5. Clearance and collateral,
6. Payment by a car bank to a dealer account,
7. Receiving and registering a car.

The typical steps for obtaining a car loan are listed, in principle. In individual cases, additional items may arise.

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

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

How to get the right amount on a car loan

For those borrowers who have no savings and want to take, the amount that he can count on plays a big role. First of all, it will depend on the value of this amount, which brand of car to choose at the car dealership based on the price.

In addition, the 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 a credit car, and most importantly the prices for MOT. Also useful information regarding the availability of spare parts and consumables for a particular car model.

Not everyone who wants to buy a car will immediately have money to pay for such a purchase. Therefore, car loans are today a very popular and affordable way to buy your own car.

What are the features of a car loan

A car loan is a dedicated loan to buy a car. You can get a car loan from the bank on the condition that the car will serve as a bank pledge. Based on this, the bank reduces risks and takes lower interest on the loan.

Typically, a car loan rate is less than a cash loan. But in case of non-payment of the loan, the car is seized by the bank and sold to repay the loan.

Most often, the bank requires the borrower to insure the car under the CASCO program. In the event of theft or damage to the car during an accident, the bank will receive insurance. The car owner must renew the insurance annually, otherwise the bank will apply penalties to the borrower.

Before paying off the car loan, the passport for the car must be in the bank. If you need it, then you need to contact the bank and decide with him the question of how it is possible to receive it and when you need to return it.

Where to get a car loan?

There are many different banks in Russia. But after 2014, a large number of financial and credit organizations stopped issuing loans for the purchase of cars, replacing them with consumer loans with simplified conditions.

You may notice that few rating banking institutions offer such a targeted loan in 2017. In most cases, interest rates on car loans are the same as on consumer loans. Although earlier the difference was quite noticeable.

Name of the bank	% APR	Loan amount, rub	Date of issue	What cars		During what period is issued	Down payment,% of the cost of the car
"East Bank"		100 thousand rubles - 10 million rubles	From 1 to 5 years
Knoxbank		100 thousand rubles - 10 million rubles	3 to 10 years			During one week
"Alfa Bank"		100 thousand rubles - 5.6 million rubles	From 1 to 6 years
		150 thousand rubles - 1 million rubles	From 1 to 7 years
Raiffeisenbank		50 thousand rubles - 3 million rubles	From 1 to 5 years			Within one business day
Russian Agricultural Bank		Up to 3 million rubles
Sberbank		Up to 10 million rubles

The most attractive conditions are offered by Knoxbank. But you can get a car loan in this bank only to residents of the Volgograd region.

Alfa-Bank also offers quite attractive loan conditions. Here you can opt out of CASCO insurance. If you do not receive a salary through this bank, then a car loan will be issued to you at a rate of 15.5% per annum.

VTB 24 conditions are the most balanced in terms of rates and requirements to the borrower. But this bank must pay a down payment of 20% of the total cost of the purchased car.

Car loans from Raiffeisenbank are ideal for high-income borrowers living in large cities of Russia.

Getting a car loan with bad credit history

If you previously made delays in repaying other loans, then most likely this will negatively affect your credit reputation.

Before you get a car loan with bad credit history, you should contact the credit history bureau for help. If it indicates that you have delays, you need to urgently pay them off. If any erroneous data on the delay is indicated, you must contact the bank to resolve this issue.

To improve your credit history, you can take several small loans and repay them on time and in full.

You can still apply to small or recently opened financial and credit organizations. Such institutions are looking for customers and agree to set not too stringent conditions for borrowers.

Another option is to apply for a loan to microfinance institutions, pawnshops or financial companies for which the client’s credit history is not important. But interest rates in such organizations are much higher than in banks.

How to improve the reputation of the borrower

You can also increase the likelihood of getting a car loan in the presence of a negative credit history in the following ways:

• find a guarantor with an excellent credit reputation;
• submit a certificate to the bank about a high level of income or ownership of expensive values;
• provide a security deposit;
• make an advance payment of 50% of the cost of the purchased car.

Getting a car loan online

After that, the bank will issue a preliminary opinion on the possibility of issuing a loan to you. But you still have to personally come to the bank to provide the required package of documents and sign the contract.

Car loan - to take or not?

A car loan has many negative aspects, but there are also positive aspects. It is necessary to carefully analyze all possible offers of banks, their loan programs, calculate the overpayment and other obligatory expenses on car loans and compare them with the overpayment on a simple consumer loan. You also need to consider the possibility of state support when buying a domestic car.

To understand this sea of \u200b\u200bnuances and conditions of loans of different banks, do not be afraid to resort to the help of professional credit brokers.

Take care of your credit reputation. After all, if it is bad, then getting a loan for a car will be much more difficult.

Car loans can be carried out both on new and used cars. It is better to buy a used car at a car dealership, because it will be guaranteed not in theft and not broken.

Many modern loan offers are available to modern borrowers.

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  Each loan program is different:

• unique requirements for the borrower to receive funds;
• minimum package required for paperwork;
• other conditions, among which one can single out the maximum amount, interest rate and acceptable loan terms.

Getting a loan

• passport of the Russian Federation;
• certificate of income;
• a certified copy of the work book.

Some banks may require additional collateral for the loan, as well as third-party guarantees.

There are special offers for those who want to get a loan without an income certificate, but the conditions in this situation will be less favorable.

Conclusion of an agreement

If we talk about what you need to take a car loan, then you can not do without the need to sign a loan agreement. It regulates the rights and obligations of the parties, and also contains detailed information about the conditions of lending.

Most banks give their borrowers the opportunity to familiarize themselves with a sample loan agreement on the site.

Studying a loan agreement will help to avoid problems with the bank at the stage of debt repayment.

Debt repayment procedure

The borrower needs to pay the debt every month in even payments. The size of the monthly payment and repayment schedule are specified in the contract.

In most banks, you can return the funds ahead of schedule without overpayment. In this situation, interest is recalculated taking into account the actual loan term.

Each bank has its own methods of making payments, but in most cases, you can repay the debt in the following ways:

• at the cash desk of any bank;
• in self-service terminals;
• in electronic payment systems;
• using a money transfer to a credit account.

Pros and cons

If we talk about what is needed for a car loan, it is also worth mentioning the advantages and disadvantages of such a service.

Pros:

• a car loan allows you to break down a fairly large purchase price into several payments of an affordable size;
• a wide variety of loan offers allows you to choose the most suitable for different categories of borrowers;
• reliable borrowers can get a car loan on the most favorable terms;
• flexible loan terms.