Car loans with state subsidies: conditions, a list of banks and cars

Car loans with state subsidies are provided on certain conditions and subject to certain requirements. But everything is not as scary and complicated as it seems at first glance. And in order to understand whether you need such a loan or not, we’ll study the information.

Credit terms

To obtain a car loan with state subsidies, a number of conditions must be met. These include the following:

1. A loan is issued only in the currency of our country.
2. The interest rate on a loan may not exceed twelve percent.
3. Down payment is required, and it can not be less than fifteen percent of the loan amount.
4. The minimum lending threshold starts at forty-five thousand.
5. In addition to the minimum, a car loan with state subsidies has a maximum rate of seven hundred and fifty thousand.
6. You can borrow for three months or three years.
7. If a car loan is issued on preferential terms, then there is no commission for issuing a loan.
8. A car that is issued on credit is a guarantee.
9. Be sure to take out insurance for the car after applying for a car loan with state subsidies.

It is important to remember that the amount of the insurance premium is not included in the amount of the loan itself.

Loan processing

The first thing you need for registration is the down payment. If he is on hand, then you can safely start looking for a car in order to get a loan.

An application for a loan must be submitted by appearing in a bank branch. You cannot apply online for this type of loan.

If the application is approved, then you can begin to apply for a car loan. It is the creditor who selects the appropriate equipment and model of the machine.

It is important not to forget about the final insurance, or rather, its amount.

If all the formalities are met, the borrower makes an initial payment and signs the documents necessary for the provision of a loan.

The agreement shall indicate the amount paid by the state. In addition, it lists all the terms of the transaction (interest rate, maturity, loan closing procedure). Only after signing this document the borrower can use the vehicle.

Where to go?

The program of state subsidies for car loans is presented in several banks. And although this is a program from the state, the terms of lending are different everywhere. To choose the most advantageous offer, you must compare several borrowers at once.

Sberbank

The government subsidized car loan program first appeared in this bank. Therefore, the list of services here is slightly expanded.

For example, a bank is ready to provide a choice of two options for obtaining a loan:

1. Classical.
2. One when you need only two documents.

The bank also sets forth conditions, and these include the following:

1. The borrower must be a citizen of our country.
2. The age of the borrower must be over twenty one years.
3. Permanent work experience should be from six months.
4. A certificate of 2-NDFL is required.
5. The down payment may not be less than fifteen percent of the price of the vehicle.

To the loan itself, the bank also puts forward certain requirements:

• a loan is granted for no more than five years;
• only in Russian rubles;
• down payment can reach up to fifty percent, but can not be less than fifteen;
• individual interest rate;
• software is the machine itself.

The interest rate is calculated based on the borrower's income, term and amount of the loan, changes in state subsidies.

If all the requirements are satisfied, then you can apply for a loan.

VTB 24

Despite the fact that a car loan with state subsidies in 2017 appeared in Sberbank in the first place, other banks also work with it.

The conditions for issuing a loan are as follows:

1. If you buy a new car, then a ten percent discount is given.
2. The down payment must be at least twenty percent.
3. A loan can be given only up to the amount of one million one hundred sixty thousand.
4. There are no clear loan terms.
5. The collateral is the vehicle itself.
6. The machine must not be older than twelve months.

A car loan with state subsidies at VTB 24 is advantageous in that the price is reduced by ten percent even when buying a car. This is one of the main reasons why this bank is popular.

But, despite the excellent conditions, the borrower also has more stringent requirements than in other banking organizations.

So, the credited must:

1. Have the citizenship of our country.
2. Be at least twenty-one years old and not older than sixty-five years.
3. Have registration in the region where the bank operates.
4. Permanent experience must be at least twelve months.
5. Have a steady income of twenty thousand for the province and thirty thousand for Moscow and the region.
6. Have two phone numbers. Suitable landline and mobile.

In addition, the borrower should not own the vehicle. All loans that were previously taken to purchase a car must be closed. If there are no inconsistencies, then obtaining a car loan with state subsidies at VTB 24 will not be difficult.

The list of cars that fall under this program is common to all banks, which means that a banking organization cannot add or remove vehicles from there itself.

In order to apply for a loan, you will need the following documents:

1. Directly passport.
2. Information on the form 2-NDFL or account statement in free form.
3. Another document. This may be a driving license, passport, certificate of insurance, etc.

As you can see, the bank does not require anything special, it just needs confirmation of financial security and identity. Based on these data, bank employees will select the loan amount. In order not to get confused, you need to learn the following rule - the more income, the larger the loan amount.

Gazprombank

Another organization that is included in the list of banks with car loans with state subsidies. The conditions here are pretty loyal:

1. The down payment should not be less than fifteen percent.
2. A loan is issued for a maximum of seven years.
3. The interest rate starts at twelve percent.
4. A loan can be obtained for a maximum of four and a half million.

The borrower is required to do almost the same as in other banking organizations:

• citizenship of our country;
• registration in the region where the bank is present;
• age over twenty years;
• permanent place of work with an annual experience;
• good credit history.

The set of documents is the same as in VTB 24 or Sberbank for a car loan with state subsidies in 2017.

URALSIB Bank

Here the interest rate ranges from nine to twelve percent. It depends mainly on the loan term. It can be obtained both for three months and for three years.

An individual must make an initial contribution, which will be fifteen percent of the price of the car. Private entrepreneurs are required to pay twenty percent of the amount. The car that is bought on credit is a loan security.

It is important to remember that in this bank you can get a loan only for a car of a domestic manufacturer. Typically, payments are divided into equal amounts for the entire loan term.

Raiffeisenbank

The interest rate varies from ten to twelve percent. A loan can be issued no longer than three years. According to state subsidies for car loans in 2017, the maximum loan amount is 540 thousand. In 2018, nothing has changed.

The Bank provides money for the purchase of both foreign-made and domestic cars.

The down payment amount, as in other banks, cannot be less than fifteen percent of the price of the car.

But the age of the borrower is different from the requirements of other organizations. According to the rules of this bank, the loaned must not be younger than twenty-three years. He must have a permanent job and experience of at least four months.

Loko-Bank

Although this bank is not known to everyone, its conditions are quite attractive. Namely:

1. The interest rate is from seven and a half to eleven percent.
2. A loan can be obtained without proof of income, but in this case its rate rises by two percent.
3. The down payment should not be less than twenty percent.

Cars that fall under the program

A car loan with state subsidies in 2017 and 2018 is issued for the following cars:

• "Niva" (the entire lineup).
• Matiz, Nexia.
• Chevrolet Cobalt and Aveo.
• Nissan (the entire lineup).
• "Lada" (the entire lineup).
• UAZ and ZAZ (all cars).

Pros and cons of car loans

The state program for subsidizing car loans in 2017 and 2018 has its advantages and disadvantages.

The pluses include the following:

1. You can get a car without saving money or wasting time.
2. There is an opportunity to save, because the state provides a subsidy.
3. Relatively low interest rate when compared with other types of loans.
4. There is a possibility of early repayment.

Cons are also available:

1. The credit does not include options that improve the configuration of the machine.
2. Insurance is a prerequisite for issuing a loan.
3. You need to make monthly payments before the loan expires.
4. The requirement to have a down payment.

The essence of the program

State subsidization of car loans in 2018 is aimed at ensuring that the average Russian can afford to buy a car. This program has several advantages over others. Due to them, it becomes easier to purchase a vehicle.

The low interest rate is due to the fact that part of the payments is borne by the state. That is, approximately two-thirds of the bank does not require a borrower. Thus, the loanee pays smaller amounts, which means that the overpayment is reduced.

A few years ago it was impossible to buy a car without a down payment of a third of the cost of the car. At the moment, the down payment is also required, but it is halved.

Insurance requirements have been simplified. For example, a car loan in Sberbank with state subsidies can be issued on the basis of CASCO, not CTP, as before. Such a simplification significantly saves the borrower money.

The risk of running into scammers or a bank that does not comply with the law is minimized. This is because the state scrupulously controls all banking organizations that operate under the program. That is, if the bank provides a loan on the basis of the state program, then it is definitely accredited. Reliability is what attracts new borrowers.

Action algorithm

It doesn’t matter in which bank a car loan with state subsidies is taken - 2017 at VTB 24, Sberbank or any other bank, because getting it is harder than a simple consumer one. To surely get approval, you should use our instructions.

To get a car loan with state support, it is best to choose a car from Russian manufacturers. You must remember when choosing restrictions on the age and price of the car. To simplify your task, you can contact the bank for a list of dealers.

The most popular brands of cars with state support:

• Hyundai Solaris.
• "Renault Logan".
• Nissan Almera (some configurations).
• "Lada" ("Priora", "Vesta", "Kalina" and so on).
• Daewoo Nexia.
• Chevrolet Cobalt.
• Peugeot
• "Ford Focus".

The next step is to compare bank offers, because they are different everywhere. For example, in VTB, a car loan with state subsidies in 2017 differed in terms from the same Gazprombank or Sberbank. For this reason, it is necessary to carefully study all the information about both the loan itself and the bank. To make the right choice, you need to pay attention to the rating, which are independent rating agencies, reviews about the bank, how much a banking organization exists, whether there are branches in the immediate vicinity, additional loan conditions and interest rates.

After the bank is selected, you must submit an application and prepare a package of documents. In order to get a car loan with state subsidies in banks of St. Petersburg, Moscow or provincial cities, most often require the same package of documents. This is a passport, a certificate in the form of 2-NDFL, a second document (driver’s license, passport, TIN, etc.), a certified copy of the employment contract or a copy of the employment book.

Most banking organizations also put forward general job requirements. To get a loan, you need to have six months of experience in one place and five years in total. Most often, loans are issued to people over twenty-one years old and under sixty years old, but it all depends on the bank. Each bank requires the borrower to have registration in the region where the bank is located and Russian citizenship.

In addition to all of the above, you may need the written consent of the spouse, information about additional sources of income, information about the property of the borrower.

Although a few years ago it was possible to get a loan only by coming to the bank in person, now an online application is enough to complete the application. Both applications are processed differently in each bank. In one they give an answer in a few hours, and in the other in a few days.

It is important to remember that approving an online application is a preliminary rather than an accurate answer. The latter will be given only after a personal visit to the bank with all documents.

The next step is to sign the contract. And here, before you put the signature, you need to carefully read everything. This is especially true for small print, because, as a rule, it is with them that the most important information is gathered. During the reading, you need to pay attention to the obligations of the parties (that is, the bank and the borrower), methods of repaying the loan (very good if there will be several), conditions for early closure of the loan (interest for closing ahead of schedule and where to apply), additional fees (opening bills), the final interest rate (without reading the contract carefully, over time you can find its increase).

The borrower must complete the sale and register the car in the traffic police. When all actions are completed, the vehicle passport is transferred to the bank. As a result, the initial payment is paid first, and then the car becomes a guarantee.

It is also interesting that the car will have to be insured by both CASCO and CTP. In general, insurance costs separately, but it also happens that it is included in the loan amount.

After all the steps are completed, the borrower can pick up his car and use it. But he becomes a full owner only after the loan is closed. Upon its closure, you should take a note from the bank stating that there are no debts to the bank, and remove the burden from the car.

Conclusion

From the article it is clear that the purchase of a car under the state subsidy program is extremely profitable. But still, before you take such a crucial step, it is worth weighing the pros and cons. Because if this is not done, then you can stay with debt and without a car.The choice of the bank also plays a role, so preference should be given to those organizations that have established themselves in the market. Well, carefully read the contract so that subsequently unpleasant surprises do not come out. If you follow all these rules, a loan will not become a burden and a problem, and the car will please you for more than one year.