Where and how to get a car loan for a car?

Not everyone who wants to buy a carimmediately there will be money to pay for such a purchase. Therefore, car loans are by far a very popular and affordable way to buy your own car.

What are the features of a car loan

A car loan is a targeted loan forcar purchase. You can get a car loan in a bank with the condition that the car will serve as a bank deposit. Based on this, the bank reduces risks and takes less interest on the loan.

As a rule, the rate for a car loan is less than for a cash loan. But in the event of non-payment of a loan, the car is withdrawn by the bank and sold for repayment of the loan.

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

Before the repayment of a car loan, the passport for the car mustto be in the bank. If you need it, then you need to turn to the bank and decide with him the question of how it can be received and when it is necessary to return.

Where to get a car loan?

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

It can be noted that few ratingbanking institutions offer such a targeted loan in 2017. In most cases, interest rates on auto loans are the same as for consumer loans. Although before the difference was quite noticeable.

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 aattractive credit conditions. Here you can opt out of CASCO insurance. If you do not receive a salary through this bank, then you will be given a car loan at a rate of 15.5% per annum.

The terms "VTB 24" are the mostbalanced rates and requirements for the borrower. But in this bank it is necessary to pay the first installment in the amount of 20% of the total cost of the purchased car.

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

Говоря о том, как получить автокредит в Sberbank, it is necessary to note also quite favorable conditions of this bank. The interest rate here is one of the lowest. Almost every citizen of Russia can get a loan for a car here.

If you receive a salary in Sberbank, thenThe bank will issue a decision on issuing such a loan within 2 hours. If the customer has the opportunity to make an initial payment of 30% of the value of the car, the bank will not require a certificate of income, a copy of the labor and the availability of guarantors.

Another great advantage of Sberbank's auto loan is that the amount of CASCO insurance can be included in the loan amount.

They give you the opportunity to get a car loan without a down payment. "Vostochny Bank, Nokssbank and Sberbank.

If you decide to get a target loan for the purchase of a domestic car, then state purchases are provided for such purchases, which is very beneficial for the borrower.

How to get a car loan?

Getting a car loan includes the following steps:

• preparation of documents and drawing up an application for a loan;
• making a bank decision on granting a loan for a certain amount of money;
• choosing a car in the cabin, signing a contract of sale, making a down payment (if applicable);
• signing a loan agreement;
• CASCO insurance;
• payment by the bank of the cost of the car to the car dealer;

After that, a citizen can pick up the car and carry out its registration.

Before you get a car loan, you need to find out in the bank a complete list of documents. Financial institutions may request additional papers or information.

Important point

A car loan can be issued first of all at a bank branch. The second option is a car dealership where a representative office of a particular bank can be located.

Decide where to get a car loan, should heborrower. It is important to find out what credit conditions and in which bank you personally will be the most profitable and convenient. Be careful not to make an impulse purchase by taking a loan in the cabin. The percentage there may be higher than in the bank branch.

Disadvantages of car loans

The car loan imposes certain obligations on the borrower and has its negative sides:

• Quite a strong appreciation of the car compared to purchasing it for cash.
• It is necessary to pay off monthly debts. Before you get a loan, you should calculate your financial capabilities.
• Before the loan is repaid, the car is a bank pledge, and it can be sold or donated only with the permission of the bank.
• As a rule, when making a car loan alwaysPayment of CASCO insurance is required, and this is quite a significant amount. Most often, the insurance company is chosen by the bank itself, and the amount of insurance may be higher than that of other insurance companies.
• If the car got into an accident, the paid amount of insurance is sent to the bank, and the owner will not be able to repair the car for these funds.

Borrower requirements

Each bank sets its own conditions for obtaining a loan. But you can usually take a car loan with the following requirements:

• the borrower has RF citizenship;
• the age of a citizen receiving a car loan must be between 23-65 years old;
• Work experience in the Russian territory during the established period.

Additionally, credit organizations need to call several phone numbers (work, personal, phone number of friends).

How to get a loan for a car with mileage?

Used cars are cheaper than new ones, and their condition may not be worse than the new one. Consider how to get a car loan for a used car.

Usually banks set the following conditions for used cars:

Registration policy CASCO is required.

The borrower of a used car loan must meet specific requirements:

• be over 21 years old;
• have a total work experience of more than one calendar year;
• the work experience at the moment in the organization is more than six months, and for some banks it is enough 3-4 months;
• be a citizen of Russia and have a residence permit in the city where he draws up a car loan;
• have a positive credit history.

Credit for cars is easier to get drivers with driving experience. Reluctantly, banks issue such loans to young people and people of retirement age.

Credit for both new and used carcan be obtained at the bank branch or in the showroom. The most profitable thing to do is in the bank through which you receive wages. For example, citizens who have payroll cards at Alfa-Bank can get a car loan at 12.5% ​​per annum, and on general terms the rate will be 16%.

The process of obtaining a loan for a used car

To get a car loan for a used car, you must pass the following path.

Choose a credit institution, compareoffers of different banks, their programs, interest rates and terms for issuing loans. Reflecting on how to get a car loan, you need to clarify whether there is a representative office of the bank you like in your area. Preference should be given to proven banks with a good reputation.

Application is possible at a personal visit to the bank or via the Internet.

You must have the following documents with you:

• passport;
• certificate of income from work;
• driver's license;
• copy of employment record.

Next, the bank considers the application. After approval of the application, the borrower, if necessary, is provided with a period from 1 to 3 months for a car search.

After that, a contract of sale with the seller of the car. Also obligatory is a CASCO design. This increases the amount of bank payments to the borrower.

The initial payment is transferred to the bank account, from where the money is transferred to the car dealership. The average size of this contribution is usually 20% of the purchase price.

With particular attention should be approached to the design of the loan agreement. The document to be signed must be thoroughly examined. It is necessary to pay attention to the following nuances:

• The final interest rate. It happens that advertise one, but really provide more.
• The presence of fees for financial transactions (they are also called hidden).
• What are the options for repayment of the loan.

After we received a car loan for a car and purchased it, it remains only to become registered with the traffic police. After that, you become the full owner of the car.

Good advice on buying a used car

Buy a used car in the cabin. So you can avoid acquiring a faulty or stolen car. Moreover, often car dealerships organize promotions for the sale of used cars.

If a small amount is not enough for the purchase, it is better to prefer a consumer loan to a car loan.

There are also specialists such as credit brokers. They know how to get a car loan on more favorable terms. Brokers will help you choose the most optimal loan program.

Getting a car loan with a bad credit history

If you previously allowed to delay the repayment of other loans, then most likely it will have a negative impact on your credit reputation.

Before you get a car loan with a badcredit history, you should contact the credit bureaus for help. If it indicates that you have a delay, you need to urgently repay them. If any erroneous information about the delay is indicated, it is necessary to contact the bank to resolve this issue.

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

You can also apply to small or newly opened financial and credit organizations. Such institutions are looking for clients and agree to set not too strict conditions for borrowers.

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

How to improve the reputation of the borrower

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

• find a guarantor with an excellent credit reputation;
• submit to the bank a certificate of high level of income or possession of expensive valuables;
• provide a pledge;
• make an advance of 50% of the cost of the purchased car.

Getting a car loan online

Almost any bank today offers to apply for a loan via the Internet. To do this, in a special form, you must specify your personal data, loan amount and other information.

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?

The auto loan has a lot of negative sides, butThere are positive moments. It is necessary to carefully analyze all possible offers of banks, their credit programs, calculate overpayment and other mandatory expenses on car loans and compare them with 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 ​​nuances and loan conditions 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 it will be much more difficult to get a loan for a car.

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