Today, buying a new car is not difficult for any car enthusiast. Having available only up to 30% of the cost of transport, you can get a loan to buy a car, for example, in Sberbank. This offer is for those who do not like to wait, but want to drive their vehicle today. Consider what the conditions of car loans in Sberbank of Russia and what are its advantages, in more detail.
Features of car loans
- Assessment of own forces and availability of start-up capital. Before you apply for a loan, you need to sensibly assess their capabilities. In addition to the availability of a sum of money for the down payment, you will still be required to pay monthly payments on debt obligations with an interest premium. Think about whether you are ready for such expenses for several years.
- Finding the right financial institution. In addition to Sberbank of Russia, there are many organizations that provide loans for cars, even online. Perhaps, another credit institution will be suitable for your opportunities and desires. You should not throw at the temptingly low interest rates on car loans, perhaps there you will expect tough penalties for the slightest reason.
- Collect the necessary documents. After the bank is selected, it is necessary to take from its specialists a list of documents and certificates, which are required to provide you with a car loan.
- Study of the loan agreement. If your application has been approved, you should carefully examine it before signing the contract. Very often, credit organizations write in small print important points that can be overlooked. This situation plays into the hands of the bank, but not you.
Pros and cons of auto loan
- Quick purchase of the desired car. Now there is no need for years to save funds to purchase your own car. Everything can be solved here and now, and a completed application online saves your time at times. Take a car loan and then enjoy the personal vehicle – what could be easier.
- Favorable offers of a large number of banks. These include Sberbank of Russia, which offers various programs for car loans on favorable terms. For example, on account of the down payment, the bank may deduct the value of your old car.
- Government subsidies. Sberbank is included in the list of financial organizations that conclude loans for the purchase of a vehicle with further state support to the borrower to repay the interest rate. You can take a car loan with state support and save money from the family budget.
- The maturity of the loan debt in Sberbank is extended to 3 or 5 years depending on the program.
- Ability to apply for a car loan online via the Internet.
- Strict requirements for potential borrowers. Sberbank does not issue loans to customers with a poor credit history, low income or short work experience.
- The need for a down payment. Although Sberbank will make for you a large part of the amount for the purchase of transport, but you still have a sum of money for the down payment.
- Stay bought cars in the status of the Sberbank. A mandatory condition of the bank is the registration of the purchased machine in the mortgaged property of the lender. You can learn more about how to check in the pledge of a car or not.
- Casco insurance. All Sberbank auto loan programs require mandatory Casco insurance.
- In addition to paying the entire cost of the car, you have to pay interest on the cost of the loan to the financial institution for the provision of services.
Studying the terms of credit for the purchase of cars in Sberbank online, weigh once again all the pros and cons of such an important step as the design of a car loan. After all, this is a debt obligation not for a month, but for several years. Sberbank of Russia offers several options for car loans – these are “Car loan” programs, “Car loan with state support” and “Car loan partner programs”. Consider the conditions and requirements of their provision of each separately.
The program “Car loan”
The offer of the bank called “Car loan” applies to the purchase of a new or used machine of domestic and foreign manufacturers. In addition, the terms of this type of lending offer:
- issuing a loan for a period of 12 to 60 months;
- the possibility of granting a loan in several currencies (rubles, dollars, euros);
- making a down payment of 15% of the cost of the car;
- interest rate payment in the amount of 11.5-16% per annum.
The advantage for individuals who use the Sberbank card to receive a pension or salary, and who have a bank account, is to reduce the annual interest rate by 1% on this lending. In this case, you can take a loan to buy a car with more favorable conditions.
“Car loan with state support”
This bank offer applies to the purchase of cars exclusively Russian assembly. However, worry about this is not worth it. Today, many well-known brands of cars leave the Russian conveyors. The loan conditions for this program are as follows:
- a period of 1-3 years is granted for repayment of the loan;
- interest rate (depending on the loan term) varies from 8 to 10%;
- the amount of the first installment is equal to 15% of the cost of the purchased car;
- car cost should not exceed 750 thousand rubles.
The advantage of the program is state aid, which covers annual interest rates of 2/3 of the refinancing rate. You can apply for government loan subsidies at Sberbank online.
“Affiliate car loan programs”
This offer is suitable for potential borrowers who wish to make a car purchase at a car dealership associated with a bank partnership. For such persons, the autoshop is ready to offer a substantial discount, various gifts and favorable conditions for a loan from Sberbank of Russia:
- the minimum amount of the down payment does not exceed 15% of the cost of the car;
- the interest rate on the loan agreement varies from 10.5 to 16% per annum;
- the provision of a loan in several currencies – rubles, dollars, euros;
- The maximum loan term is 3 years.
Thus, if a car dealership in which you chose a car is included in the list of Sberbank’s partners, then an auto loan can be issued on the spot and at the same time get favorable conditions.
Important requirements that the bank imposes on borrowers
For individuals, the bank places special requirements for the provision of car loans:
- The age of the potential borrower must be in the age group of 21-75 years.
- You must have a certificate confirming the official income of the borrower.
- Mandatory availability of guarantors or registration of the purchased car as a pledge.
- Seniority at the last job should not be less than 6 months, and the total experience over the past 5 years – less than 1 year.
Thus, we can conclude that car loans should be taken only in case of complete confidence in financial stability. Otherwise, there is a high risk of being left without a car and the amount already paid under the loan agreement.
It is also worth noting that Sberbank offers its customers three programs for car loans, from which you can easily choose one that is right for you. In addition, the current customers (individuals) with a card or an account with Sberbank, the lender makes concessions and offers more favorable conditions.
But still, before you take such a crucial step, sensibly assess your strength. The right decision will save you from further trouble, and buying a car will bring long-awaited joy.