Currently, a huge number of people are wondering how to buy a car on credit. And this is no accident, since the modern pace of life sets its own rules. Everyone knows that a personal vehicle is not a piece of luxury and wealth, it is a way to quickly solve many pressing problems.
- 1 Ways to get a car loan
- 1.1 Trust loan
- 1.2 State subsidies
- 1.3 Consumer loan
- 2 The reality of lending
Ways to get a car loan
Each method of obtaining a loan for a vehicle has both its positive and negative sides. That is why before rushing to the first available proposal from a credit institution it is necessary to thoroughly understand the basic methods of lending.
It enables the client to receive financial resources exclusively for the purchase of a car. It is important to remember that the essence of the condition under consideration is that the vehicle purchased will be considered the direct collateral for the bank. That is, until the full repayment of the debt, the car will be entirely in the hands of the credit institution. Consequently, the borrower will need to regularly insure the car against theft, as well as a variety of damage.
Choosing a target loan, you should remember that the purchased car will become a pledge property for the bank until the full repayment of the debt
Most often, a car loan on the target program can be up to five years. The maximum amount set and issued by the bank is 5 million rubles. At the consumer’s choice, the payments on the loan taken can be of various forms:
- annuity payments in equal parts;
- differentiated - payments, where in the first months the amount of payments is much higher than in subsequent ones.
The most commonly used is the annuity option of loan payments.
Помимо всего прочего, buy a car on credit возможно на различных условиях, отличающихся в зависимости от выбранного банка. Так, в некоторых учреждениях клиент имеет право самостоятельно выбирать автомобильный салон, а в других заведениях предлагают только ограниченный перечень партнерских точек по продаже авто. Немаловажным моментом является и наличие в некоторых категориях кредитных учреждений дополнительных расходов на полноценное оснащение машины и, конечно же, страховых взносов.
Дает возможность приобрести транспортное средство в рамках предоставляемых государством льготных условий (государство оплачивает часть процентной ставки). Многие потенциальные клиенты задаются вопросом, how to buy a car on credit, если имеешь огромный ряд всевозможных ограничений. Это реально, однако стоит соблюдать все прописанные законодательством правила:
- the cost of the car cannot exceed the established limit of 750 thousand rubles;
- a loan is given a period of not more than three years;
- down payment is at least 15 percent of the total loan amount;
- the car must be produced in the territory of the Russian Federation.
According to the rules of state subsidies, the cost of the purchased car cannot exceed 750,000 rubles.
Of course, the state subsidy system makes it possible to get a car loan loan on more affordable and favorable terms. The final amount of the overpayment will be the smallest amount compared to other methods of transport lending.
It provides an excellent opportunity to borrow money for a car without a huge list of restrictions. The potential client has the right to buy not only the car, but also other types of property for the funds received from the bank, since he will not have to further report on the funds spent to the institution. It is important to note that CASCO insurance also becomes optional.
The fundamental disadvantage of this type of lending is its higher total cost. It is about five percent more than the above described target loan. The size of the direct loan is directly dependent on the wealth of the future recipient of funds. Therefore, before applying for a particular loan, you must carefully consider your own income over the past three accounting months. It is he who plays an important role in the response from the loan officer.
Consumer credit has several advantages, but its total cost is much higher than the target loan.
The reality of lending
A car loan is real. However, do not miss the opportunity to clarify information about each method of lending before making a decision. Initially, it is worth evaluating and reviewing the proposed conditions, interest rates, payment methods, commission fees and insurance premiums from various banking institutions. In case of a misunderstanding of certain nuances, a good option would be to contact a qualified specialist, that is, a lawyer. It is this first-class employee who will be able to explain every item set forth in the bank agreement and interpret vague points. It is worth knowing that in almost every document signed by a credit institution there are a lot of so-called pitfalls that are difficult to recognize for an incompetent person.See also: What are sold minivans in Russia