Not all people have enough money to buy a vehicle. Lending is often used as an aid. With this service, the cost of the car increases noticeably, and not everyone can afford it. The car loan co-financing program allows you to reduce the rate, which will help save money. But it does not apply to all vehicles. To participate in the program, you must comply with some conditions.
What it is?
Now the state is supporting the domestic automobile industry. Large investments of financial resources make it possible to make transport collected in Russia demanded by buyers.
When a person wishes to participate in a car loan co-financing program, he receives funds at a low rate. The difference with a standard loan for transport can include several points, because the state pays a part of expenses. But not all vehicles can be purchased under this program. Moreover, it can be not only Russian cars, they must be assembled in our country.
Conditions
A car loan co-financing program is beneficial for borrowers. If a person decided to become a participant, then he will be able to buy not only a domestic car, but also transport of foreign manufacturers. The program involves new cars, and the amount of the loan can be 750 000 rubles. You must pay the first installment, which should be at least 15% of the loan. The rate is between 8-12%.
There was a period when the program did not work: from 2011 to 2012. But from next year, cars were offered with state support. This service is very different from a classic car loan. Before signing the contract, you need to carefully read how the funds are provided and how they must be returned.
Requirements
To participate in the program, customers must meet the requirements:
- Age. Funds are provided to borrowers aged 21-65.
- Citizenship. Banks work only with citizens of the Russian Federation. If the applicant is not included in their list, he cannot receive a loan.
- Job. Applicants must be officially employed.
- Experience. To obtain a car loan, the borrower must work for at least a year. And the experience of 6 months should be at the last job.
- Registration. The borrower must be registered in the region where the bank is located. Only with all the requirements, you can take a car loan on preferential terms.
Other requirements may apply. Learn about them before submitting an application. There are a number of requirements for cars:
- The machine must have a Russian assembly, including foreign cars.
- The price should not be higher than 1 million 150 thousand rubles.
- The mass of transport is not higher than 3.5 tons.
- The term is up to 36 months.
- Down payment required.
- Availability of registration and citizenship in Russia.
- In addition to compulsory motor third-party liability insurance, CASCO is required every year.
- The car until full payment will be as a deposit in the bank.
These requirements are exemplary. In each bank, they may differ. First you need to familiarize yourself with the programs of several banks, then to choose the most suitable one.
Types of cars
Not all cars participate in a car loan co-financing program. To establish which transport can be purchased on favorable terms, you need to familiarize yourself with the current list. Under the program of support for the automotive industry, you can purchase the following cars:
- Lada.
- Nissan
- Opel
- Renault
- Skoda.
- UAZ.
- ZAZ.
- Citroen
Other Russian cars are also issued under this program. Please note that even if cars are included in this list, this vehicle may not be sold at a discount. According to the state program, a car loan is valid for vehicles issued no later than a year before the client's request. It may not be a car, its permissible mass is not more than 3 tons.
Where to go
Finding a bank where car loans are issued under the state program is quite simple. It should be borne in mind that each financial institution has its own nuances. You need to familiarize yourself with the tariffs of different companies, and then choose the most suitable option.
Favorable conditions are offered at Svyaz-Bank. There you can get up to 800 thousand rubles up to 3 years. The disadvantage is the large first payment, which is 20%, but a low rate is provided - 11.93%.
Car loans are issued by Rosselkhozbank. The first payment there is less - 10% of the amount, and funds are issued up to 5 years. The downside is the need to apply for hull insurance, as well as the rate of 19%.
State subsidization of car loans in 2017 at Sberbank was provided at a rate of 7.5-9.5%. The maximum cost of the car is 1 million rubles. The car must be new. A car loan with state subsidies at Sberbank in 2018 will be the same as last year.
If you want to buy a car, you can contact Avangard, Alfa Bank, VTB 24, Tatfondbank, Soyuz Bank, Agropromcredit.
Advantages and disadvantages
Like other banking services, car loans have positive and negative sides. The main advantage is considered to be savings. Using the option, a person significantly reduces the amount of overpayment that would have to be paid during the use of a regular service.
But there are also disadvantages:
- Not too large range of vehicles.
- Reduced credit limit.
- Not all banks provide a service.
Before using the service, a person needs to figure out what is important for him - saving or buying a car. If the desired car is included in the list of preferential, this option will make the loan profitable. In other cases, you need to weigh the arguments, and then make a decision.
What should be considered?
Before applying, you need to weigh the need for transport - is it so required that you pay a loan for several years. If the machine is an integral part of work and life, then you can conclude a contract. But in the absence of such a need, you should think carefully and make the right decision, since credit is a high burden on the family budget.
Financial capabilities should be calculated, because if the customer doesn’t pay, he loses the car and the money. Before purchasing, it is advisable to collect more money for the first payment, because this will serve as a guarantee of solvency and additional privileges - a reduction in the list of documents and a reduction in the rate. In addition, you will need to pay less.
Registration
How to get a car loan? During registration, it must be borne in mind that obtaining this loan does not differ from the standard program. The borrower is required to prepare documents and visit the selected financial institution, where you should apply.
Experts advise you to pre-select a vehicle, for which you need to go to the car dealership. Today, registration is also possible via the Internet, which significantly saves time. The following documents are usually required:
- passport of the Russian Federation;
- certificate of registration;
- confirmation of car ownership in Russia;
- income statement;
- a copy of the work book certified by the employer.
Prospects for soft loans
Russian manufacturers switched to uniform distribution of products so that there is no oversaturation of the car market. But thanks to lower government support rates, demand is not declining.
Future forecasts for subsidies are not entirely favorable.Indeed, due to the percentage of non-return, the economic situation, the achieved goals, the volume of subsidies is reduced. But supporters of the program believe that during a crisis in the country, sales of domestic cars should not be reduced, since demand for them will be less without state support.
During the program period, many residents of the country purchased the necessary transport. Car loan is for the buyer assistance in the acquisition, and the manufacturer in making a profit. The consumer only needs to choose the right model and bank.
If the selected car is included in the preferential list, then the purchase of such a vehicle will be profitable. But you always need to think carefully before deciding.
