Advantages and "pitfalls" of car loans in russia


The vast majority of citizens are not able to buy a car for their own cash savings. In addition, few people want to dream about the desired car for years, saving money for a future purchase and continuing to comprehend the delights of public transport. A car loan can become a solution to a painful problem, since its design today is not difficult, because almost every bank offers this type of service under various conditions that are suitable in certain situations. To acquire a long-awaited machine, it is enough to determine for yourself the best option to conclude an agreement, collect the necessary documents and submit to the bank an application for consideration on the loan issue. After some time, sometimes in the shortest possible time you can get a long-awaited car.

Advantages and disadvantages of car loans

Pros and cons of car loans.

Конкурентная борьба финансовых организаций заставила снизить процентные ставки по займам, и банки наперебой предлагают клиентам всевозможные программы, привлекающие простотой оформления и небольшой переплатой. Получить ключи от мечты хочется как можно скорее, а предложения кажутся очень заманчивыми. Так ли выгодны они на самом деле, как может показаться на первый взгляд? Спешить с принятием решения однозначно не стоит, и чтобы разобраться, что лучше – автокредит или потребительский заём, необходимо тщательно изучить рынок банковских услуг прежде, чем второпях подписывать договор. Задача упрощается, если вы уже имеете на руках определённую сумму на погашение первоначального взноса, и чем больше она будет, тем меньше окажется процент переплаты. Но не все граждане располагают даже малой частью средств на приобретение авто. Многообразие программ кредитования решает и эту задачу, позволяя подобрать подходящие условия в каждом конкретном случае.Читать далее про преимущества и недостатки автокредитов-->

Variety of loan programs

To make the picture clearer, and the right decision on the question of which car loan is better to choose, was found, consider the types of programs offered by banks:

  1. The classic loan is the most popular among the population, it is the most profitable option, allowing you to buy a car with the lowest overpayment. At the same time, it will be necessary to make a down payment ranging from 10% of the cost of the car, the remaining amount is distributed over the loan period (from 1 to 5 years).
  2. An express loan is issued quickly, a minimum of documents is required to enter into an agreement (a passport and driver's license will be enough), no income certificate is needed. This type of lending involves a high interest rate.
  3. Loan without down payment. In this case, the bank will impose more stringent requirements on the client's solvency, other unprofitable conditions are also possible. Rates depend on the term of the loan and the type of currency. Loan without insurance
  4. Loan without insurance. Некоторые банки практикуют выдачу автокредита без оформления полиса КАСКО, являющегося обязательным во всех других программах кредитования. С одной стороны, страховка стоит недёшево, и возможность избавиться от необходимости за неё платить кажется заманчивой, но с другой – появляются дополнительные траты в виде большой суммы первоначального взноса и высокой процентной ставки. К тому же по таким программам выбор автомобилей достаточно ограничен.
  5. Trade-in involves the exchange of a used car for a new one. A used car repays part of the cost of a new car, the remaining amount is paid by the client.
  6. Buy-back or a loan with a buyback. The program involves the payment of the down payment, the partial cost of the loan and the last payment upon completion of the term. A deferred payment can be paid by the client or car dealer (if you decide to change the car). It is also possible to extend the deadlines, but then the overpayment will be much greater.
  7. Factoring or interest-free loan. Half of the cost of the car is paid by the client immediately, the remaining amount is distributed in parts without interest.

You can find out which car loan is more profitable by examining all the points of each of the proposed programs. The circumstances and opportunities of the client are also taken into account, therefore completely different credit conditions are preferable to specific situations.

Customer credit

Consumer credit is a loan issued to a client by a financial institution for the purchase of any durable goods, including a vehicle. In this case, the car will not be the subject of a pledge, in contrast to the conditions of the auto loan. Target loan involves spending the money received solely on a particular product, while the untargeted allows you to dispose of the amount at its discretion. To decide which is better to take a loan for a car, you need to consider all the advantages and disadvantages of each option.


  1. The main advantage is that the car purchased in this way is your property, which you can dispose of as you please, sell, donate, etc. It is not required to wait for the end of the contract. The vehicle will not be pledged, so the bank will not be able to confiscate it from you in case of non-payment of the loan.
  2. You are not limited in the choice of car or seller, so you can buy a new car, either a new one, in a car showroom or from a private person.
  3. There is no need to purchase an expensive CASCO insurance policy, which is most often required under the terms of a car loan.
  4. No early repayment fee.
  5. The opportunity to get a discount at a car dealership when buying a car for cash.

Customer credit


  1. To receive a large amount in the absence of collateral is not so easy, the bank imposes strict requirements on the client, and the opportunity to receive a refusal is high.
  2. It is necessary to collect a large package of documents and confirm their solvency, you will also have to acquire guarantors. Perhaps the design and without the participation of third parties vouch for you, but then we should expect a high interest rate on the loan.
  3. A lot of time is required to approve a loan.
  4. You will be limited in the choice of vehicle issued by the amount, if there is no additional funds raised for the purchase.

Which loan option is more profitable, car loan or consumer loan, must be considered individually. In each case, the terms of the contract can match your capabilities or not, so to make the right decision you need to take into account all the nuances.

Car loans

To decide what is best to arrange, a car loan or a consumer loan in your case, consider also the advantages and disadvantages of car loans. Car loan is a target loan to buy a car. Depending on the type of loan program, the conditions offered to the client differ.


  1. small down payment, low interest rates;
  2. the possibility of choosing the appropriate loan program option;
  3. you can get a car in a short time;
  4. no guarantors are required;
  5. You can take advantage of additional benefits and discounts provided by the state, car dealership or car maker.

Car loans


  1. The car is the subject of a pledge, you can only dispose of the property by repaying the loan in full. If you do not make payments, the creditor has the right to take away your car from you in order to pay off the debt.
  2. The presence of compulsory auto insurance. When choosing a program without a CASCO, the interest rate increases significantly.
  3. In case of early repayment of the loan, additional penalties are charged.
  4. Under the terms of some programs, the choice of car models is limited.

Making a car loan in the salon

You can arrange a car loan in the bank or directly at the car dealership, the conditions are slightly different, but there are still some nuances for each type of loan. Which of the loans is more profitable to take to buy a car, you can determine by evaluating the pros and cons of each of the options. Today, almost every major auto show Discounts for new cars! Profitable loan from 9.9% installments 0% provides an opportunity to issue a loan agreement on site.


  • ease of design;
  • saving time;
  • rate of loan;
  • the opportunity to consider several programs from banks that cooperate with the dealer;
  • receiving discounts or bonuses from the car dealership;
  • The loan amount can also include additional equipment for cars.

Making a car loan in the salon

Weak sides:

  • narrows the range of choice of banks providing car loans;
  • It is often impossible to choose an insurer, therefore a CASCO policy can be much more expensive.

When you make a car loan, it is important to carefully and slowly study all the nuances of the contract before signing it. Dealers and bank employees may be silent about some points, whereas they will necessarily be spelled out in documents, often in small print.

Special lending programs from car dealerships

In some cases, special offers from car dealerships, such as Trade-in or Buy-back, will suit the car buyer. Today, these systems have become very popular, but also, apart from their merits, they have disadvantages.


Under the terms of the program, the cost of an old car is the first loan payment. This is quite an attractive system for those who want to change the car. In this case, wait until you sell your car, do not have to, the dealer will buy it from you, if the technical condition of the car meets the conditions of the program. After that, you have to pay the difference between the used and the purchased new machine. The convenience of the program is still overshadowed by some points, such as a restriction in the choice of cars and a low estimate of a used car.


The program may be interesting to fans to regularly change cars. According to its conditions, the cost of the car is divided into three parts:

  1. An initial fee. The client contributes 10-50% of the cost of the car
  2. “Comfortable period” means monthly payments calculated in such a way that by the end of the term 20–40% of the total amount remains
  3. Residual payment. The amount frozen until the end of the monthly payments is paid at one time. The client can keep the car for himself by repaying the loan, or sell and pay the balance of the proceeds. The remaining money can serve as a down payment on a new car. If necessary, you can also extend the loan period, but the overpayment will be much higher.

Despite the advantages in the form of small monthly payments and the possibility to sell a car before debt repayment, the program has significant drawbacks, such as compulsory insurance, service in official service centers and circular credit dependence in the case of a new loan to pay off the balance or purchase on credit

What to stop

First of all, you need to decide what kind of car you want to buy, and properly assess your own capabilities, because after purchasing a car, you will have additional expenses for its maintenance. Taking a loan even with the best of options, you should not delay payments, because fines can significantly affect the stability of your wallet. Of course, the most profitable loan for a car will be the one that provides a low interest rate, and the more the down payment is, and the loan period is shorter, the less you will overpay in the end.

Buying a car on credit

There are enough offers on the banking services market; all of them can be suitable for certain situations and be profitable in one way or another. Some programs are offered on special terms if you are a customer of this bank. You can also gain by buying a certain brand of car on loyalty systems or stocks from the manufacturer, as well as taking advantage of government subsidies. It is necessary to choose a program, carefully calculating all the points and having studied thoroughly the terms of the contract on the subject of various additional commissions and other “pitfalls”.