Often different organizations are faced with such a concept as a commodity loan, but they do not always understand what it is intended for, and also what features it has. It is a specific form of loan, for the implementation of which a special agreement is created. It prescribes the basic conditions under which the buyer receives a certain amount of products for long-term use. Payment is made in installments. The document must indicate for what period the goods are provided, as well as what are the conditions for deferred payment.

The advantage of using a commodity loan is that the customer can use the goods, and pays for them only after they are sold or receive income for their use. This is especially true for companies that do not have a lot of free funds, but it is important for them to continue their activities.

A loan, called a commodity loan, has some nuances and priorities compared to other types. The purpose of such loans is to accelerate the sale finished products and goods, as a result of which a profit is guaranteed in the near future.

Features of a commodity loan include:

• no interest rate, which is very advantageous compared to the rates set for loans by conventional banks or other lending institutions;
• its size is the limited free funds available to the entrepreneur;
• an agreement can be concluded not only by legal entities, but also by individuals, and when issuing standard loan one side is a banking organization.

Thus, obtaining a commodity loan is accompanied by certain features that each organization or individual acting as one of the parties should be aware of.

The main types of commodity credit

There are several types of loans, which include the following:

• With deferred payment. This type is considered the most popular. When it is sold, the goods are delivered by the supplier to the buyer on the basis of the conditions specified in the contract. Additional documents for this process are not compiled.
• WITH open account. This form of commodity loan is used if the supply of goods is sold several times to the same buyer, and small lots are used for this. Within the terms stipulated in the contract, the repayment of the debt on these goods is ensured. As a rule, companies that are reliable partners and have been working with each other for a long time act as parties to such an agreement. The value of the delivered goods is transferred by the seller to the debit account of the company acquiring them.
• Consignment. This loan is a commission transaction carried out in the external economy. Here the seller instructs to sell the goods shipped to the warehouse. Settlements between the two parties are made only after the final sale of the goods. It is believed that this particular type of commodity credit has the highest security indicator.
• Using a bill. It is with its help that the registration of debt is ensured; this form of loan is considered the most promising for modern companies. The issuance of bills is made after the two parties involved in the transaction complete the coordination of all the nuances. The execution period may vary.

Commodity credit can be presented in several forms, but the important rule is that both parties involved in the transaction must be honest and offer open terms. It is not allowed to offer low-quality goods or questionable conditions.

Combination of commodity and commercial loans

The correct scheme of work of different organizations consists in the simultaneous use of both a commodity loan and a commercial one. It is important to know not only what commodity loans are, but also that there is a combination of them with. This is considered especially relevant and in demand for suppliers, as they have the opportunity to increase the sales market for their goods, as well as build long-term relationships with buyers and partners.

Commercial loans can be provided not only by the supplier, but also by buyers:

• suppliers offer a deferral or installment plan for the gradual payment of money for goods;
• buyers give suppliers an advance or prepayment.

An indispensable condition for the implementation of this transaction is the drawing up of a contract of sale. Additionally, a trade credit agreement is drawn up, indicating the cost of the goods, as well as the period during which it must be returned. The contract of a commercial transaction indicates the price of the goods and the period during which it must be paid. If the most important conditions for cooperation are missed, then the documents drawn up earlier are invalidated.

How is a trade credit granted?

There are no clear definitions and information in the legislation about what a commodity loan is and how exactly it is provided. Therefore, all the features of such an agreement are negotiated by both parties in the process of negotiating the conditions. At the same time, both the supplier and the buyer must know their functions, namely:

• the supplier acts as a creditor;
• the buyer not only receives the goods, but is also the borrower.

The main features of the provision of a commodity loan include the following:

• ownership of the goods passes to the buyer from the supplier in the process of actual transfer, this is due to the sale and purchase agreement drawn up simultaneously with the document for the commodity loan;
• if a deferred payment or installment plan is provided, then the buyer can pay the supplier a certain percentage for this proposal, and its amount must be prescribed in the document;
• when registering a deferment, it is allowed to pay for the goods in installments, usually this is done after the buyer sells the batches of products.

Features of a commodity loan agreement

This agreement does not have any special differences from the standard document drawn up for conventional lending. However, here the subject of the contract, which is the goods, will be specific. It is important that the agreement contains the following information regarding the goods:

• their name;
• the number of goods purchased with the help of a trade credit;
• their generic characteristics;
• range;
• product quality.

The risk of non-payment may appear even when drawing up a commodity loan, and this is due to the difficult economic situation in the country, so the buyer may not be able to repay his debt to the supplier. Often this is due not only to the complex financial condition buyer, but also with his dishonesty. In this case, the supplier develops special administrative documents designed to minimize risks.

These documents include:

• an application with the help of which a commodity credit is issued;
• instruction;
• an agreement specifying the granting of a delay to the buyer, usually wholesalers;
• a provision on granting a deferment or installment plan to retail customers;
• a list of companies with a dubious reputation for repaying loans.

What are the terms of trade credit

In the process of commodity lending, certain conditions must be met, which include the following:

• the period for which the payment of goods sent to the buyer is postponed;
• the moment during which the property rights are transferred is prescribed, and the date of signing the contract or the direct transfer of goods can act as this moment;
• the amount of payments that must be paid for the use of this method of lending is calculated, for this interest is calculated;
• the conditions for the payment of interest.

Commodity credit is characterized by a certain amount. The price negotiated by both parties includes the price of the assets transferred to the buyer, as well as the interest paid for this type of loan.

An important point is the period for which this type of loan is provided. The terms of a commercial type of lending can be different, since the time for which a deferred payment is provided usually depends entirely on the conditions and features that are developing in the market.

Other features of the provision of commodity credit

This type of lending appeared relatively recently, but it can initially be considered the predecessor of a standard commercial loan, for which only cash is used. This is due to the fact that before the advent of money, the state and finance, there were barter relations, and often payment for certain goods was carried out by other goods with a delay.

If we move away from the business sphere, then in the philistine understanding, a commodity loan is a loan issued by a bank for the purchase of goods. As a rule, bank employees or financial agents of several lenders are located at the point of sale of household appliances and electronics, furniture, outerwear and work with customers directly on the territory of the stores. If a person cannot purchase the desired product for cash, he is invited to issue it. In this case, cash is not issued to the client. If approved, the bank transfers funds to the account of the outlet, and the client receives the desired product in his hands. After that, the debt is returned to the bank according to the standard scheme in monthly payments.

Thus, commodity credit can be presented in several forms. It is considered profitable and convenient for use by both buyers and suppliers. It ensures uninterrupted supply, production process and trade turnover. For the provision of such a loan, the buyer is obliged to pay certain interest. Each party involved in the transaction must carefully understand the correctness of the contract for a commodity loan.

Although the subject here is not money, but goods, there is still a possibility of default, so each supplier must carefully choose the buyers to whom such a loan will be offered. Also, all delivered goods must be of high quality. If we are talking about a commodity loan between an individual and a bank, no surprises should be expected here: the conditions will not differ much from a standard consumer loan.

Features of certain types of loan agreements

A commodity loan is an agreement under which one party (creditor) transfers things to the other party (borrower) with certain generic characteristics.

As seen from this definition the subject of the contract is the actions of the parties to transfer only things of certain generic characteristics, usually agricultural products, raw materials, semi-finished products, products of production and consumption, and so on.

The norms of a loan agreement, credit agreement are applicable to a commodity credit, unless otherwise provided by the commodity credit agreement itself and does not follow from the essence of the obligation. The rules of the contract for the sale of goods, including the terms on the quantity, assortment, completeness, quality, packaging and (or) packaging, are also applicable to a commodity loan, unless otherwise provided by the commodity loan agreement.

A commodity loan has some features that distinguish it from a loan agreement, as well as from a loan agreement.

Unlike a loan agreement, a commodity loan agreement is consensual, that is, it is considered concluded from the moment an agreement is reached. The borrower has the right, in pursuance of the concluded commodity credit agreement, to demand the transfer of the stipulated things by the creditor to him. At the same time, this agreement differs from the loan agreement in terms of subject composition. A commodity loan can be granted by any person except for credit organizations (in practice, entrepreneurs associated with the production and consumption of a certain type of raw materials and materials act as such). Creditors in a commodity loan agreement, as a rule, are commercial organizations. Banks and others credit organizations that provide a loan exclusively in cash cannot be creditors under this agreement.

A lot of controversy raises the question of how to return a trade credit. The most common opinion is that the debtor's obligations include the need to return, within the terms agreed with the borrower, inventory items of exactly the same kind and quality in an amount increased by the amount of interest.

Due to the fact that the rules on a bank loan apply to the loan agreement, the borrower under this agreement is obliged to pay the cost of the things transferred to him, as well as interest. The main purpose of commodity lending is the alienation, sale of any property, which follows from the nature of the transferred property (as a rule, these are raw materials). The procedure for payment of a trade credit is arbitrary. It should be borne in mind that the payment term does not coincide in time with the moment of transfer of the subject of the contract. This gives grounds to consider commodity credit in conjunction with commercial credit.

This statement is of particular importance when discussing the issue of attributing the costs associated with obtaining a loan to the cost of production, which will be discussed below. In general, the procedure for payment is largely determined economic entity this institute.

"Another important feature of the commodity loan agreement, which was borrowed from a bank loan, is the right of the creditor (borrower) to refuse to provide (receive) a loan."

Note that if the lender's right to refuse to provide a loan is imperative and cannot be limited, then the borrower's right may be limited by an agreement or some legal act. The legislator stands primarily on the protection of the interests of the creditor, when he is granted such a right in the event of circumstances that clearly indicate that the loan will not be returned. Such circumstances can be, first of all, financial and statistical documents (annual and quarterly accounting reports and balance sheets), as well as filing a claim with the court to declare the borrower insolvent (bankrupt) and so on.

Refusal to receive a loan by the borrower must be made before the period established by the agreement, which can be determined by the parties in the agreement. After this period, the refusal is considered invalid. Along with this, the obligation of the borrower may be provided in case of refusal to compensate for losses, since the creditor is deprived of the funds that he is entitled to count on when the borrower fulfills the terms of the contract.

In addition, commodity credit as a measure of state regulation of the economy is, as a rule, interest-free.

The scope of the commodity credit is not formally limited by the establishment of an exhaustive list of its participants. But in practice, the participants in such relations most often become entrepreneurs associated with production and constantly in need of continuous consumption of raw materials and materials, and not credit institutions, although theoretically this is possible.

Thus, the main economic purpose of a commodity loan is to replenish working capital, which completely excludes the use of individually-defined things. In particular, commodity credit has become one of the main mechanisms for centralized seasonal credit to agriculture.

Like Bank loan, commodity credit is usually targeted. In addition, if the borrower violates the obligation to use the things provided to him for the intended purpose, the creditor has the right to refuse further lending.

By virtue of Art. 820 of the Civil Code of the Russian Federation "a commodity loan agreement must be concluded only in writing." Failure to comply with the written form of the commodity credit agreement entails its invalidity by virtue of law.

The essential terms of a commodity loan agreement include, first of all, the condition on the name and quantity of things provided on credit, otherwise the commodity loan agreement cannot be considered concluded. In addition, the requirements for quality, assortment, completeness of goods, containers and (or) packaging should be recognized as the essential terms of this agreement. The price of goods provided on credit is not essential condition contract, since interest is charged on the contractual value of the goods transferred.

The borrowed nature of a commodity loan involves the return of the transferred property, which may create the impression that, on this basis, such an agreement cannot be classified as commercial. However, a commodity loan agreement has a number of distinctive features that allow it to be regarded precisely as a commercial agreement:

1) the purpose of the commodity credit agreement is to extract profit from the transferred property. A significant difference between a commodity loan agreement and a loan agreement is its reimbursable nature. By virtue of paragraph 3 of Art. 809 of the Civil Code of the Russian Federation "a real loan agreement is assumed to be interest-free and can be paid only if it is enshrined in the agreement itself." Commodity loan agreement for general rule involves the accrual of interest and, conversely, can be free of charge only if this is indicated in the agreement;

2) the transfer of goods by the wholesaler realizes its main purpose - the promotion of goods on the market;

3) a commodity credit agreement, as well as a loan agreement, does not imply the return of the same goods that were transferred by the seller to the buyer, which indicates that the seller's goal of promoting the sold goods has been achieved;

4) elements of the contract of sale (conditions on the quantity, assortment, completeness, quality, packaging and (or) packaging of the items provided must be executed in accordance with the rules on the contract for the sale of goods in the commodity loan agreement confirm its alienation the nature, therefore, the condition for the return of the goods to the creditor does not exclude the commercial nature of this agreement;

5) the implementation of a commodity loan makes it possible to stimulate the activity of producers in bringing to the market those types of goods in the production of which the wholesaler is interested.

Today when market economy is gaining momentum, such a sales sector as commodity credit is extremely important.

This is the most convenient tool for selling products, both for sellers and buyers.

Not every person has the opportunity to buy new household appliances or vehicle by paying the cost immediately.

Such people can receive goods or products with a deferred payment of its cost, without losing the opportunity to use it from the very first day of the loan.

Article navigation

The essence and features of commodity credit

TC is a type of loan. It is formalized by signing an agreement, according to which the buyer gets the opportunity to use the product, paying its cost for some time.

Commodity credit is beneficial for both the buyer and the seller of goods. For those who take goods, the benefit lies in the fact that a person has the opportunity to use goods, which his material condition does not allow him to buy.

The downside in this case is some overpayment of the total cost of the goods, which the buyer takes in installments. As for the amount of this overpayment, it depends on the amount of the interest rate on this loan, as well as from its term.

The seller of the commodity also does not lose money by increasing the turnover of the commodity and capital. In addition, an important benefit for the seller is also the advertising of his firm or company, where you can get the goods with a delay in its full payment.

TC can be obtained in the form of a product that the buyer takes in installments, its residual value, as well as the interest on the loan, he repays through a banking organization that transfers these funds to the seller's bank account.

Specialists identify groups of clients that can be considered priority when using this type of lending:

• Enterprises whose field of activity is the implementation of retail trade, for example, transit.
• Manufacturing companies that are engaged in the export sale of goods. For them, commodity lending contributes to the fact that the turnover of goods and profits increase significantly.

Commodity credit is a type of borrowing of goods. , compared with a bank loan, is that it is issued not in the form of cash, but in the form of goods. It is also worth noting that in this case, the goods act as collateral.

This means that the buyer must return the goods to the seller if he fails to pay part of the cost on time or defaults on the interest rate.

We should also not forget that this type of loan is short-term (the maximum period for which it can be issued does not exceed three years). You can also get a commodity loan if one of the main conditions is met - payment down payment.

What are the types of this type of loan?

Commodity credit, as a kind of commercial credit, can take several forms:

• With deferred payment. This is the most common form of lending among retailers or wholesalers. Its essence lies in the fact that the seller of the goods provides the buyer with the opportunity to postpone the deadline for the final full payment for the goods. From the initial payment to the last payment, the right to use the goods or products belongs to the seller. The period for which the delay is given, the size is negotiated by both parties and fixed in the contract or agreement.
• Open account. A kind of commercial loan, the essence of which is that the seller provides the buyer with an open account, to which he conducts periodic payments of debts for the purchased goods. As a rule, this type of loan is not confirmed by any type of documents, but is registered only in the accounting books of enterprises. As practice shows, in order to get this type of loan, you must have high level trust between the buyer and the seller, for example, it can be two organizations that have been cooperating for a long time and completely trust each other.
• Consignment. In this case, the supplier of the goods (seller) is an exporter, organizes the delivery of a large consignment of goods to the seller's warehouse, subject to its sale. Payment for the shipped goods is carried out after it. According to experts, this type of loan can be considered the most financially secure.
• Promissory note. This form is the most promising and modern type of commercial loan. Bills of exchange are issued for different periods of their repayment, which are preliminarily agreed between the buyer and the seller. This document acts as a guarantee for the seller that the loan will be repaid by the buyer within the period specified in the promissory note, the buyer must fully repay the debt at a time. Often they also use a bill of exchange at sight, which obliges the buyer to repay the loan on the day when the seller presents this bill to him.

The use of any type of deferred payment implies a ban on any kind of influence of the seller on the buyer, which have a non-financial form. This may be the provision of low-quality or damaged goods or products; promotion and termination of cooperation with other sellers or buyers, etc.

Advantages, disadvantages and rules for using TC

Like any kind of monetary relationship, commodity credit has two sides - positive and negative.

Positive:

• A loan can be obtained in a short period of time.
• It is possible to be directly involved in the formation of all clauses of the contract or agreement for the provision of credit.
• The buyer can solely decide how he will use the goods taken in installments.
• The interest rate is much lower than for other types of loans.
• Commodity credit can be issued without the involvement of an intermediary, which will significantly reduce the cost of paying for their services.

Negative:

• There are quite high degree risk.
• IN banking organization you can take a cash loan, the amount of which will be significantly lower than the amount that can be obtained at the cost of a commodity loan.
• One of the prerequisites for obtaining a TC is making an initial contribution.
• The right to the goods remains with the seller from the first to the last installment and repayment of the debt interest rate.

The rules for using a commercial loan can also be attributed to a commodity:

• Often, when a person decides to take a shopping mall, such a factor as the demand for the purchased goods, which he takes on credit, is not taken into account. This is a huge mistake.
• If a product that is obviously illiquid is taken as a loan, it is necessary to demand from the seller smoother and easier conditions for the loan, including the size of the interest rate.

Before you take the goods in installments, you should carefully analyze the market for goods. This is necessary in order not to take more goods than you can sell it.

Do not trust the choice of goods to your employees. They may not take into account your plans for the future in relation to the sale of this product.

When drawing up a contract for the provision of a commodity loan, you should pay attention to the preparation of its written form, otherwise it will be completely impossible to prove anything.

Do not violate the terms of repayment of the loan and interest rates. This may end up with the seller canceling and taking the item back. This is due to the fact that, according to the law, the seller remains the owner of the goods until the last payment is made.

It is necessary to calculate in advance the possibility that the goods are not sold completely and immediately. This will result in delays in payments.

Sellers trust only those buyers with whom they have been cooperating for a long time. Having earned the trust of the seller of goods, you can count on more preferential terms receiving trade credit.

Do not rush from one seller to another - this is not in favor of the buyer. At the same time, if the seller failed once, it is possible that this will happen again. Don't give him a second chance.

Registration procedure

According to statistics, approximately 30% of the population of our country at least once in their lives are faced with the processing of a commodity loan.

Therefore, you just need to know how to do it right, what to pay attention to.

A commodity loan is any loan for the purchase of goods, which has its own specifics and design features:

Select the required product or store where the TC will be issued.

First of all, you need to be sure that the purchase of this product is really necessary.

It is also worth paying special attention to the choice of the company or store in which the loan will be issued. At the same time, the seller should have as many bank creditors as possible. This determines the number of shares for which the goods can be purchased.

Loan program at the lender's bank. It is quite difficult to sort out this issue on your own, of course, if the buyer does not have the necessary knowledge.

Credit terms

When drawing up an agreement or an announcement for a trade loan, you should definitely pay attention to such items as the loan term, the size and terms of periodic repayment, the interest rate, types of penalties for delay, etc. It depends on whether the TC will be beneficial.

Registration procedure

To do this, it is enough to have a passport with you. The buyer has the right to be directly involved in the preparation and discussion of each clause of the contract or agreement.

You must have the amount of cash with you, which will be paid as a down payment. In addition, you must have mobile phone, it may be necessary to verify personal data.

Before putting your signature under, it is best to read it again very carefully and slowly, paying attention not to the smallest details.

Making an initial deposit

After signing all the documents, you can make the first installment at the cash desk.

The contract must also specify the conditions and guarantees for the return of goods that were taken in installments.

If the goods were taken on credit, this in no way means that they can no longer be returned.

If the purchased product is discovered to be defective, or in the event of frequent troubleshooting or malfunction of the product, the buyer has the right to return it within the first 15 days after the contract has been executed.

If the buyer used the product for more than the specified period, it will be possible to return it only until the date indicated in the warranty card. Therefore, when buying goods on credit, it is necessary to require the seller to fill out a guarantee coupon.

The seller is obliged to draw up a return certificate, which clearly states the reason for this process.

After it is completed, on the same day you should contact the bank through which the debt was paid, having with you everything Required documents and receipts.

This must be done because interest will accrue for each day the product is used, regardless of whether it is returned. The date when the buyer applied to the bank is important, not the date when the goods were returned to the seller. Bank specialists will draw up an act on termination of the loan agreement.

The buyer will have to file a return statement Money. The application should indicate the exact amount that has already been paid as repayment of the loan, as well as the amount that still needs to be repaid.

Until the date when the bank has not finalized and completed the procedure for terminating the contract or agreement for a loan, payments on a commodity loan cannot be stopped. This can lead to the fact that the buyer will be charged with sanctions for the goods already handed over to the seller.

A banking organization will issue a special document indicating the termination of the loan agreement and the complete absence of debt under the TC. After that, the buyer will be refunded all the funds that he paid for the time of using the goods.

As for the return of those funds that were paid by the buyer, as interest on the use of the loan, the buyer should go to court. In this case, the court will pay attention only to the amount that was paid by the buyer for the period when the goods have not yet been returned, but he was unable to use them due to their malfunction.

There are frequent cases when the seller refuses to accept the goods back, and the bank refuses to break loan agreement. In this case, the buyer has no choice but to file a lawsuit with the court. As practice shows, in the event of a similar situation, it is best to seek the help of an experienced lawyer.

The interest rate depends on several factors:

• Credit term.
• The cost of goods taken in installments.
• Relationship between buyer and seller.

This indicator can be of the following types:

• floating rate. Its size is not clearly established, but depends on the term of the loan and the amount that has not yet been repaid. This type of bet is very popular with buyers.
• Fixed. This type of interest rate is constant and unchanged throughout the term of the loan agreement.

Commodity credit is a type of loan that is extremely popular among buyers. When making it, you should take into account all the points, and especially your capabilities.

You can watch the video on the basic registration of a commodity loan:

Ask your question in the form below

People treat loans differently. Some believe that commodity loans help to buy the desired product faster, while others recognize this as an excellent way to take all the savings from the population.

This article is not intended to convince you of one opinion or another. The main task will be to explain the essence and conditions consumer lending for the purchase of goods. And the conclusions about what is good and bad, you can already draw yourself.

What are the distinguishing features of such loans?

Commodity loans are a targeted loan. That is, the client does not receive cash in his hands. The bank transfers bank transfer funds to the account of the store where the borrower wants to buy goods.

According to a similar scheme, lending for the purchase of a car or real estate takes place. Commodity loans differ from those mentioned above in that the loan amount in them is much smaller. The amount of money that banks are willing to provide to the borrower for the purchase of goods in a store is ten times less than when buying a house or a car.

The second difference between commodity loans is the term of the loan. Basically, consumer lending for goods implies a transaction period of up to 2-3 years. In the case of a car or real estate, the duration of the contract can reach 15-20 years, depending on the conditions of a particular bank. Interest, or fees for using a loan, can be either higher or lower than those offered for large transactions for a car or house. This is connected only with the policy of the bank itself, which is based on the structure of the loan and deposit portfolio.

If we compare commodity loans with those that are issued in cash in hand, then the former are cheap. For cash that can be used for any purpose, people will always pay more, and this is logical. Indeed, in case of failure to make payments on a loan for a product, the bank can confiscate it, and this is a kind of safety net. In the second case, the process of paying off the debt is much more painful and takes longer.

For example, if we compare the real lending rate for cash loans from large banks, we can calculate about 70% per year, including insurance payments. In a loan for goods, this rate is about 30-40 per annum.

What are the credit terms for the goods?

A bank loan for goods can be either with a mandatory down payment or without it. This is good if you don't have any money at the moment and you don't have the option to make a "zero" payment. However, interest rates on a loan with this option are often at a higher level.

And if you have money to make a down payment, then be sure to make it - this will significantly reduce the level of possible overpayment and your debt obligations.

The terms of such loans usually range from three to 24 months.

This can be both with the life insurance of the borrower, and with the insurance of borrowed property. Or maybe even without an insurance option - everything is at the choice of the client.

This form of loan is most often found with a payment method called an annuity payment. It implies the same amount of payment to the bank throughout the entire loan period.

It is calculated quite simply:

• Ap \u003d (Tk + Tk x Pg): P, where:

  Ap - annuity payment;
  Tk - the body of the loan (the amount that the product itself costs);
  Pg - annual interest rate on credit;
  P - the period or number of months for which the loan is issued.

What must be included in a consumer credit agreement for a product?

When concluding a contract, it is necessary to pay attention to the following points, which are mandatory:

• the amount of the loan obligation;
• loan terms;
• interest rates and the level of fees for using the loan;
• the rights and obligations of the borrower;
• the rights and obligations of the creditor;
• contract time;
• conditions early repayment credit obligations and termination of the contract;
• procedure for resolving disputes between the parties;
• signature and seal of the party that provides the loan;
• borrower's signature.

According to statistics cited by lawyers, 8 out of 10 people never read the contracts they sign. Such negligence to documents is unacceptable, especially when a person takes a loan from a bank.

Be sure to study the contract in its entirety and read to the last word. The consultant may not tell you everything or "forget" to notify you about something. If you read to the end of the document that you sign, then the chances that you will be deceived will be much less.

Where can I get a commercial loan?

Interest on such a loan does not depend on the method of its registration. The number of channels through which you can get a bank loan is growing every day.

The first option is to contact the bank branch. The classic way to get a loan for goods is to come directly to any office of a financial institution. Perhaps this is the only way that will allow you to find out all the conditions of lending in full. Although it all depends on the skills of the bank representative who will serve you.

What are the disadvantages of obtaining a consumer loan for goods at a bank branch?

Of course, this is a big waste of time. Very often, everything happens as follows. A person goes to a bank to get a commodity loan. Before you get to the loan consultant, you need to stand in line. For example, if there are 2 people in front of you, then it will take about 20 minutes to wait until they are served. Then time is spent on consultation and introduction of the application into the program, where the loan amount is indicated. It's about ten minutes. If the program rejected the request and made a negative decision, then it was generally wasted time.

Further, after issuing a positive result, the bank will need the details of the product - an invoice from the store where you want to purchase the product. And there are two ways here: either the person goes to the store on his own, takes the invoice and brings it back to the bank, or the financial institution can independently negotiate with the seller. In both cases, quite a lot of time is spent, so to speed up the process, you should first go to the store, take the bill, and only then go to the bank.

The second way is to issue a commodity-money loan directly in the store, at the time of purchase of the goods. You, probably, have repeatedly seen representatives of various banks or financial institutions, which are located in household appliances stores. This move is made in order to save the client's time, as well as to "take" him still "warm" when a person's eyes light up in anticipation of a new purchase. A credit consultant is ready to provide a commodity loan within 5 minutes. The main thing - do not rush and find out from him all the conditions. Often in large stores there are representatives of several banks. If you didn't like loan offer, you can always contact a representative of another financial institution.

What are the disadvantages of obtaining a consumer loan for goods directly in the store?

Firstly, usually those representatives of banks work in such places who are quite good at issuing loans and imposing unprofitable offers. Away from the bank, they can even invent their own non-existent conditions, additional cross-selling. And it's hard to break them down. For example, directly in a financial institution, in case of distrust of a bank employee, you can always contact his boss. And in this place, such a credit consultant is "his own master."

But don't worry, there is a way to get out of this situation as a winner. Each bank has a hotline that you can always call. It often happens that other credit conditions will be announced to you over the phone, and they will not coincide with those that were announced to you by a bank representative working in a store.

Please note: only those that the call center operator has announced to you will be the correct conditions. Why? Because all telephone conversations in the bank are recorded, and in the event of any disputes, they can be used as evidence. Therefore, operators cannot blatantly lie to you and provide incorrect information. In this regard, having doubted what the credit consultant in the store tells you, ask him to give the number hotline and feel free to call.

The third way is to get a loan through the Internet

What are the advantages of such a design?

This way will save you a lot of time. In just a few minutes, you can review the offers of various banks and choose the right one.

It is also suitable for those who do not want or do not like to communicate with bank employees.

What are the disadvantages of applying for a loan for goods on the Internet?

The main negative point worth noting is the lack of transparency. On the loan application page, all the conditions that the commodity loan agreement contains are not written; some nuances of the transaction may also be missed. This is done in order to attract more customers.

Is product or life insurance mandatory when applying for a consumer loan for a product?

In 99% of cases, no insurance is required. It is always imposed and presented as the only possible option for lending.

Of course, each bank issues loans on its own terms, and it is quite difficult for an inexperienced person to argue with them. Literally speaking, to any indignation with the conditions, the representative of the financial institution will simply say: "Something you don't like? Then don't take it." It's pretty good way dictate your terms. And people who urgently need to make a purchase are simply forced to “swallow” unfavorable lending conditions for themselves.

Look at the terms of any insurance contract you are asked to sign. You will not find a single hint there that it is mandatory. Each such agreement will be referred to as the "Agreement voluntary insurance or start with these words.

You can also ask a bank employee to show you a so-called passport financial services. Just as you have a citizen's passport, which contains all your data, so any banking product has a document containing all its conditions.

Many people are led to tricks that if you do not choose insurance, then you will be denied a loan.

This statement is unfounded, since the times when people considered loan applications have long gone into oblivion. Now everything is much simpler: an application is entered into a special program, and the computer automatically selects the appropriate solution. And believe me, if you do not have a negative credit history in the database, then you can get a loan without imposed insurance.

Even if you're already under pressure credit consultant gave up and agreed to insurance, then do not think that all is lost. You can call the insurance company at the same time or the next day and notify that you want to terminate the insurance contract. In this case, they will need to give you an application form and indicate the address to which it should be sent. True, you cannot return 40% of the transaction to yourself, since often it is precisely this percentage that takes Insurance Company to "do business". But still, at least something will be returned to your pocket.