The interest rate on a loan when buying a car is an important indicator. Indicates how many percent of the cost of transport will go to the bank.

The difficult economic situation in the country, which developed back in 2014, left its mark on car loans. The purchasing power of the population has fallen, and vehicle sales have declined. But at the same time, the demand for buying a car on credit has increased. Banks were in a winning position, despite the sometimes extortionate conditions for customers.

Competition among banks is growing. Financial institutions are trying to attract borrowers at any cost: lower rates, remove hidden fees and charges. For the first time in the history of car loans in Russia, the Central Bank decides to set limits on interest rates.

To date, the rate on cars is from 19 to 20 percent per annum in rubles. This is more than before 2014 by 5%.

What influences the formation of the interest rate

What affects the interest rate?

1. Season. In autumn and spring, buyers become more active and demand rises. Different banks offer bonuses during these seasons.
2. The length of the car loan. The longer the term, the higher the interest rate on the car and vice versa.
3. Rates are lower for new vehicles than for used vehicles. This is due to the possible risks for the bank. In case of default on the loan, the financial institution will have to sell the used car. This is much more difficult than selling a new vehicle.
4. If there is no confirmation of the income of the future car owner. In this case, the bank insures itself and raises rates.

How interest rates have risen today

There is an increase in average rates. At the end of 2015, they fluctuated around 18%. And already in the middle of the year they amounted to 21.21%.

In 2014, customers applied for loans directly to car dealerships. At the same time, the loan was provided by banks, but for some brands of cars there were interest rates from 0 to 10%. These are the most favorable conditions, because the car dealership itself repays interest at the expense of a discount.

The growth rate of car loans is declining. And this was facilitated by two facts: the increase in the discount rate of the Central Bank and the unstable position of the exchange rate.

What banks offer

For clarity, we present a comparative table.

Bank's name	Conditions
	Interest rate (%)	Timing	Sum	Initial minimum deposit
VTB	from 14	up to 5 years	up to 5 000000	10-15%
Setelem	9 to 25	12-60 months	100,000 - 4 million	20-90%
UralSib	from 13-16	from to 3 years	from 80 thousand to 3 million	from 15-20%
Sovcom Bank	from 22.5 to 33	12-60 months	from 100 - 400 thousand rubles	10%
Gazbank	from 16.5	up to 5 years	from 50,000 to 2 million	15%
Gazprombank	8 to 16	from 1 year to 5 years	from 90 thousand to 3 million	from 0 to 25 or more

Note. Banki actively cooperates with such car brands as Ford, Kia, Nissan, Lada, Skoda, Hyundai. For these cars, there are special interest rates and other conditions that are beneficial for borrowers. Therefore, in the table there is such a large spread of rates and other conditions.

Banks are more willing to give car loans to buy new cars. But VTB, Ros Bank and Gazprombank have special loyalty programs for buying used cars.

Bank requirements for obtaining a car loan

This year, interest rates from banks may be quite affordable. There are many banks in Russia that cooperate with car dealers and car manufacturers. Therefore, attractive interest rates can be obtained for certain brands of transport.

Analysis of car loans allows you to draw conclusions about the general conditions. They are approximately the same for all financial institutions:

• up to 5 years;
• down payment of the total cost of transport - 10-20%;
• CASCO insurance (required);
• documents confirming the income corresponding to the requirements of the loan;
• interest rate - 12-20%.

Capturing banks

Car loans with low rates from 6 to 10% are offered by capping banks. For example, Toyota Bank, Mercedes-Benz Bank Rus. The purpose of such financial institutions is to promote the brand and increase sales. Income is not the first concern of such banks, but at a loss sales are not observed. Often, in order to be participants in such car loan programs, you need to fulfill a number of requirements:

• pay up to 60% of the total cost immediately;
• the terms are small - 6-12 months;
• mandatory CASCO insurance.

On such conditions, as a rule, they sell cars of a high price category (crossovers, SUVs, limousines, jeeps).

Important! In capping banks, there is a "Buy Back" program or buyback. At the end of the loan period, you can sell the car to the salon and buy a new car right away or get a loan again.

Another advantage of such banks is the complete absence of hidden fees.

There is also a car loan with a rate of 0% on the market. He is represented by the PSA Finance RUS bank for the purchase of Peugeot and Citroen. To receive, you need to pay 30% of the cost of the car. The term is 1 year.

How to get a low interest rate

What should you pay attention to if you want to save money on a car loan?

• A package of collected documents. Banks at a minimum require a passport, TIN or driver's license. But this alignment also implies high rates or an increased down payment. To obtain more comfortable rates, in addition to the above documents, you can provide papers confirming the level of income (2 personal income tax, account statement, certificates of inheritance, winnings, etc.).
• Banks are ready to revise the interest if the borrower provides guarantors. These are people who, in case of non-payment, are ready to take responsibility.
• The down payment plays a big role in the betting decision. So, with an initial payment of 60 percent, you can count on a 2-3 percent discount on rates.
• Credit term. The larger it is, the higher the stakes. But it makes no sense to choose a very short period. You can save money and buy a car without any overpayments on the loan. The most suitable period is 2-4 years.
• It is better to contact the bank where there is any credit history or a salary card is open. Some financial institutions offer bonuses and pleasant conditions to regular customers.
• The presence of a deposit in the bank also helps to reduce car loan rates.

If all of the above conditions are met, there is a high probability of getting a reduced car loan rate.

What will affect the interest rate in the direction of its increase:

• the presence of one or more existing loan agreements;
• unfavorable credit history when there are delays in payments or, conversely, frequent early repayments;
• small down payment;
• lack of a formal job.

For car loans in foreign currency in all Russian banks, the interest rate has been increased. Thus, financial institutions insure against fluctuations in the exchange rate.

To save money, you can use the possibility of self-selection of an insurance company for a CASCO policy. This allows you to save several tens of thousands of rubles in your wallet.

Who is a potential customer for car loans

Many purchased vehicles before the end of 2014. The number of applicants has decreased. This is especially true for the middle class. People in a difficult economic situation spend money on basic necessities.

The most common car buyer is a man between the ages of 35 and 45. A rather mature and sensible segment of the population, not in a hurry to act rashly.

State subsidies

To receive a subsidy from the state, it is necessary that the car meets the following requirements:

• Machine age - no more than 1 year;
• Price - no more than 1,000,000 rubles;
• The mass of transport is a maximum of 3.5 tons;
• The country of origin is the Russian Federation or a foreign car, but the assembly is Russian;
• A car not previously registered with the traffic police, the absence of an owner;

Requirements for the borrower:

• No negative history on loans;
• Citizenship of the Russian Federation;
• An individual aged 21-65;
• Registration on the territory of Russia;
• Official employment, documented;
• The term of work in the last place is not less than three months;
• Total experience of at least one year;
• The first installment on a car loan is 10%;

In addition, if there are children, then they must be at least 6 months old.

Rate (including subsidies) = Current interest rate - (2/3 * Refinancing rate from the Central Bank of the Russian Federation).

For example, a bank offers a rate of 25%, the rate of the Central Bank is 20.3%. Using the formula, we get: 25-(2/3 * 20.3) = 11.5% - the new rate, taking into account subsidies from the state.

Learn more about extending car loan subsidies.

Where to find the lowest rates

At the beginning of the year, most banks suspended the issuance of loans for cars under the state program. Therefore, you can observe the rise in interest rates on the loan.

So, at the end of 2015, it was possible to buy a car on credit at a maximum of 12.6 percent, but in January of the following year, the maximum threshold reached 18%.

But you can still find favorable conditions for a loan. Among large banks, this is a car loan at Gazprombank. For the purchase of a new car, he allocates 10.67% per annum. Subject to the down payment - 28%.

The most profitable is a loan in a small financial institution - Expert Bank. Offers credit for 2015 domestic cars. At 9.67% per annum on the cost of a car from 100 thousand to 800 thousand. The overpayment for the year will be 77 thousand. Monthly contributions are about 16,000 rubles.

Is a car loan always more profitable than a consumer one and what to do with car insurance, see the Russia 24 channel in the Personal Money program.

Interest rates at dealerships

Car dealerships have a special marketing rate for cars. When part of the interest on the loan is repaid by the seller. This is beneficial for both the buyer and the dealer, who is interested in increasing the turnover.

You can apply for a loan without paying too much. In this case, the dealer pays the interest and the buyer pays only the net price of the car.

The disadvantage of such lending is an initial payment of 40-50%. Loan terms are less than 2 years. A full CASCO insurance policy is required and the choice of companies is limited. Therefore, saving on the selection of a profitable insurance company will not work.

It turns out that such lending with favorable rates is not available to every client.

Car loans are one of the main retail products that financial institutions in the directed lending sector can offer. Like home mortgages, as well as consumer loans, car loans have a specific purpose, in this case, the purchase of a car.

Today, each of the banks operating in our country claims that it provides its customers with the most favorable conditions for buying a car. Competition continues to grow in the car lending segment, forcing credit institutions to wage a serious struggle for customers. There are many banking programs, and they are constantly updated and systematically supplemented with various options. To attract customers, lenders reduce rates, cancel some commissions, soften the requirements for potential borrowers. Banks and car dealerships organize joint programs that allow almost every citizen of Russia to become the owner of a new car. If in 2013 44% of purchased cars were bought on credit, then in 2017 every second car was purchased under the car loan program. A variety of loan products allows you to choose the most favorable loan terms.
Which bank has the best car loan?

By the way, the decision of the bank to issue a loan is valid for at least a month, so do not rush to choose a car, the main thing is to decide which bank to take a car loan from.

Most banks today pay little attention to the level of official income of a potential borrower. Thanks to this fact, many citizens who receive salaries in "envelopes" were able to fulfill their dream and become not only the owner of a driver's license, but also the owner of their own car. However, it should be borne in mind that the absence of a certificate of income entails high interest on the loan. There are several main aspects that allow you to distinguish the most convenient offers.

• The minimum interest rate is, of course, a significant indicator that clearly demonstrates the amount that the bank will have to pay in excess of the cost of the car. The lower the interest, the less the bank will receive, respectively. However, not a single bank wants to lose profits, so credit organizations are taking certain steps, one way or another diluting their own costs. The lowest interest rates found among car loan offers are 8-12%. Such conditions for a car loan in the best banks: Uralsib, UniCredit, Bank of Moscow, etc.
• The minimum down payment is a part of the cost of the vehicle, which is paid by the buyer as a confirmation of the seriousness of intentions when applying for a loan. Many banks offer such conditions, but there are individual credit organizations that are ready to provide the opportunity to purchase a car without making the borrower's own financial resources. Which bank to choose for a car loan with such conditions - VTB 24, MDM-bank, Altayenergobank. If there is a down payment, there is a clear relationship: the smaller the amount of the down payment, the higher the loan rate. Depositing your own funds when applying for a loan, as already mentioned, confirms the seriousness of the buyer's intentions. Some banks put forward other conditions. For example, you can get a loan without a down payment, but only for a foreign car, the cost of which is 500,000 rubles or more.
• Often the determining factor in issuing a loan is the characteristics of the car itself. In this matter, each bank has its own conditions. Some approve the purchase of only a new vehicle, others agree to finance the purchase of a used one. Although it is more difficult to get a loan for used cars. since there are not so many banks willing to finance such transactions. Moreover, they all put forward a single condition for making a purchase only through a car dealership. The most favorable conditions for buying a used car are offered by Sberbank, Rosbank, VTB 24, Gazprombank and some others. Buying a used vehicle is a chance to buy a car with a 50-70% discount.
• CASCO - when applying for a loan, you should pay attention to this item, as well as to other types of insurance, in particular, the life and health of the borrower. Almost every advertisement representing the next car loan program indicates interest rates that are valid only when applying for a full insurance package, which, in turn, significantly increases the cost of servicing a loan. In principle, you can refuse insurance, saving a certain amount of money on payments. However, the loan rate may increase by 0.5-1.5% per annum. Some banks set the condition for compulsory insurance, but allow you to choose insurers. As a rule, cooperation with insurers offered by the bank increases the CASCO fee.
• Making a loan according to two documents for some borrowers is one of the most important conditions. Given this factor, we can conclude that the most favorable conditions for car loans. They are provided by Sberbank. To make a decision, a bank representative needs to provide 2 documents: a passport of a citizen of the Russian Federation and, to choose from, a driver's license or TIN. In addition to Sberbank, Rosbank, VTB 24, the Bank of Moscow, and others have similar programs. A borrower who resorts to this form of lending should remember that the bank is unable to assess the client's creditworthiness, therefore, it assumes certain risks and, accordingly, offers higher loan rates and overstates the size of the down payment.
• Installment plan from the automaker is a special program provided, as a rule, by the manufacturer. True, the Russian automotive industry does not have such programs. Installment can be obtained only on a foreign car. This can be a short-term promotion or a joint program of a car dealership and a bank, during which you can buy a car on credit at reduced rates or at a discount on the total cost of the vehicle. Getting into such a program or promotion allows you to significantly save on buying a car, whether it's a loan or cash payment. In addition, there are several car loan programs that are worth getting to know in more detail.

State support: the best car loan

A unique product that few people have heard of is a car loan with a government subsidy. This offer is not valid in every financial institution, since this is a presidential program under which you can buy a Russian-made car. Some foreign models assembled by factories in Russia also fall under its action. The most profitable loan for a car can be obtained within the framework of this program in Moscow, Rostov and other cities.

The best loan for a car: minimum rate, down payment and additional conditions. List of models that fall under a profitable car loan in banks with state support:

• Skoda Octavia, Fabia
• Chevrolet Cruze, Niva, Aveo, Cobalt, C4
• Daewoo Nexia, Matiz
• Ford Focus
• Kia Rio, Sid
• Mitsubishi Lancer
• Mazda 3
• Toyota Corolla
• Renault Duster, Logan, Sandero
• Volkswagen Polo
• Opel Astra
• Peugeot 408, 301
• Nissan Note, Tiada, Almera
• Hyundai Solaris
• And also all Lada
• All models ZAZ, UAZ, GAZ

Please note that some configurations of these cars do not fall under the program due to the cost exceeding 1 million rubles.

State support extends to two-thirds of the interest on a car loan. The subsidy is calculated at the rate of the Central Bank in force at the time of the transaction. For example, when buying a vehicle with a loan from Sberbank, the standard rate is 13.5-18%. With state support, the amount of payment for the borrower is reduced by 6.5-7%. As a result, the car is much cheaper for its owner, and the sales of domestic enterprises' products are growing.

Which bank is more profitable to take a car loan with state support

The state subsidy program allows you to purchase a vehicle up to 3.5 tons, the cost of which does not exceed 1 million 150,000 rubles. The bank provides a loan for no more than 90% of the value of the car. The loan term under the program does not exceed 3 years.

The most profitable car loan is obtained with a minimum period for which a loan is issued. Compare rates depending on the loan term using the example of Sberbank:

Loan terms

Interest rate, %

Up to 12 months

13-36 months

37-60 months

Best car loan ever

The minimum overpayment on a loan is one of the most significant factors for customers entering into a car loan agreement with financial institutions. For a more accurate understanding of the amount of overpayments in excess of the basic cost of the car, most financial institutions offer customers to use the loan calculator present on their official website. Such a tool allows you to accurately calculate the expected burden on the budget after applying for a loan and clearly demonstrate the amount of the overpayment. The increase in the cost of a purchase is directly affected by the rate of the financial institution that provides the loan, so it is quite natural to conclude the most profitable car loan. To date, the most attractive conditions are offered by the Bank of Moscow, Uralsib, Unicredit Bank, you can get a loan from them at 9-14% per annum.

It is difficult to do without a car in the modern world, especially for families and business people. Traveling in your own car is much more convenient and comfortable. Not everyone can afford to buy a vehicle in cash, sometimes, in order to save up for a car of interest, you need to work hard and save for many years. Most banks are happy to offer the population their services in issuing a car loan for the purchase of a car, thanks to which you can get the coveted car in the shortest possible time.

What is a car loan, what are its advantages and disadvantages

Car loans are the receipt of bank funds for the purpose of purchasing a car. The purchased transport in this case is a pledge. This makes it possible to purchase a car in the shortest possible time with a down payment, or without it at all.

Such a loan has several advantages:

1. Opportunity to buy a car immediately, and not save up for a purchase for several years. You can buy a car with minimal savings or no money at all. An important condition is considered a stable income, allowing you to repay the loan.
2. Competition among banks allows you to choose the best lending conditions. Credit organizations are trying their best to attract new customers by creating preferential and bonus programs.
3. Long period of loan repayment. is issued for a period of 1 to 5 years, if you choose the maximum period, then the monthly fee will not hit the wallet. But in this case, the total cost of the loan increases.

Like any banking service, car loans have a number of disadvantages:

1. If you compare a car on credit and buying a single payment, the first option will come out much more expensive. You will have to pay interest and additional payments.
2. Restriction on the disposal of the car. Despite the fact that when buying a car on credit, a person immediately becomes the owner of the vehicle, there are a number of restrictions. Until the loan is fully repaid, the car cannot be sold or issued to any other person.
3. Mandatory auto insurance. CASCO involves an additional payment of 10% of the amount of the car for insurance. Most people cannot afford such a service, so this is a significant disadvantage of obtaining a car loan.
4. Strict conditions and requirements for borrowers. Getting a car loan is quite difficult; you need to have an average or high permanent official income. Banks carefully check borrowers, so it will not be easy for students, pensioners, and people with disabilities to get a loan.

Such formats are perfect for taking a vacation on credit. You should give preference to such products that give a cash loan - so you can not only relax, but also buy souvenirs, or spend money on unrealized plans. And now let's talk about the best offers in the financial market.

Top 5 banks for car loans

A car loan program is available in almost every banking organization, but we have identified the top five banks for obtaining a loan to buy a car. Consider the proposed conditions of each bank, compare the available offers.

Sberbank of Russia, lending from Cetelem Bank

Cetelem Bank offers favorable car loan programs. The advantages of obtaining a loan for the purchase of a car in this bank include:

• a minimum package of documents, you only need a passport and any second document (SNILS, TIN, driver's license, foreign passport);
• saving personal time, loan processing takes no more than 15-20 minutes;
• availability of special affiliate programs with loyal lending conditions;
• possibility of early repayment.

The minimum rate for a car loan is 14%, the maximum is 20% per annum. The loan rate depends mainly on the amount of the down payment or its absence, the loan term, the selected car model, and the package of documents provided. Loan term from 1 to 5 years. The minimum age of the borrower is 21 years old, the maximum age is 75 years old at the end date of the loan repayment.

Car loan from VTB Bank

VTB offers several lending programs. To buy a new car, you only need two documents: a passport and a driver's license.

The interest rate is 3.5% per annum. The loan is issued for a period of 1 to 5 years. The maximum possible amount to receive is 7,000,000 rubles. CASCO can be paid both in cash at the time of registration, and included in the full amount of the loan.

It is possible to purchase a used car from a private person under the "Freedom of Choice" program. Interest rate from 8% per annum. An initial deposit is not required. The maximum loan amount under this program is 3,000,000 rubles. It is possible to obtain a loan without CASCO. There is a set of checks, both the car and the seller.

When buying a saloon car with mileage on credit, the interest rate will be from 3.5% per annum. Loan term from 1 to 7 years, the maximum amount to receive 7,000,000 rubles.

UniCredit Bank - rates from 3.9%

UniCredit offers at least 10 car loan programs, each person will be able to find a product that suits him.

The interest rate starts from 3.9% per annum, the maximum rate is 17%. The maximum amount to receive is 8,000,000 rubles. Loan duration from 1 to 7 years. An initial payment is not required, in some programs it is possible to buy a car completely from scratch. A minimum package of documents is required for registration. There is a program for refinancing car loans.

Gazprombank - car loans on favorable terms

A car loan at GazpromBank differs from other banks represented in that there is a condition for a mandatory down payment. It should be 15% of the value of the selected car. The maximum amount provided is 4,500,000 rubles. The minimum interest rate is 12.75% per annum. The loan term is up to 7 years, however, there is a condition that for domestically produced cars the maximum loan term is 3 years. If the car is purchased from Gazprombank's partner companies, then the minimum loan rate will be 15% per annum.

Rusfinance Bank - special lending conditions

This bank offers car loans at an interest rate of 10 to 20% per annum. The rate depends on the brand of the selected car, and the amount of the down payment, it is mandatory, but the minimum amount varies depending on the brand of car.

The maximum loan amount is 5,000,000 rubles. The loan is issued for a period of 12 to 84 months. For those who want to buy a used car, there are 3 lending programs: "Great Opportunity!", "What You Need" and "Forsage". Programs differ in the minimum amount of the contribution and the interest rate. The first program has a rate of 16.8%, the second 20.50%, the third 16.10%. The maximum interest rate for these programs is 20.5% per annum.

How to get a car loan

The procedure is pretty simple. You just need to spend a little time. First you need to fill out an application at the bank office, or on the official website of the selected credit institution. If the questionnaire was sent online, the bank will notify of its preliminary decision. Upon a personal visit, an exact solution will be obtained immediately.

As soon as the bank has approved car loans, the next step is to draw up an agreement at a car dealership. There you will also need to pay the first installment, if this is a prerequisite in a particular banking organization.

Then you need to contact the bank again to sign the loan documentation. As soon as everything is formalized and signed, the bank will transfer the loan funds to the account of the car dealership. As soon as the money is credited to the account, it remains just to pick up your car.

Requirements for the borrower

In almost all banks, the requirements for a borrower are the same when it comes to car loans. Each of the following must be met:

1. Have Russian citizenship.
2. Registration or permanent residence in the territory of the Russian Federation.
3. Age at least 20 or 21 years old.
4. Have a continuous period of labor activity at the current place of work for at least 4 months.
5. Having a good credit history.
6. The income should allow you to receive the requested amount, as well as make monthly payments without compromising the quality of life.

List of required documents

In each of the banks, the main package of requested documents consists of:

• car loan applications;
• original and copy of the passport, all pages, including marital status, children, registration;
• a document confirming income, this can be a personal account statement or a 2-NDFL certificate.

The Bank has the right to request the following additional documents, if it is necessary for making a decision on the loan:

• SNILS, TIN;
• a copy of the work book;
• driver's license;
• military ID;
• education document.

Getting a loan to buy the desired car in our time is not difficult, for this it is enough to meet the minimum requirements. Before you decide to buy a car, you should make sure that the available income will allow you to pay monthly installments and additional payments. Otherwise, you can lose your car and get problems in relations with the bank.

Those who do not have their own funds to buy a car right away can take a car loan without a down payment. Bank programs take into account the various offers of vehicle sellers. So, you can choose used or new cars on credit. With the help of our financial portal, you will find a profitable offer for yourself quickly and effortlessly.

Various car loan programs help bank customers use a vehicle before they can save up the necessary amount for a purchase. Many banks in 2019 make it possible to purchase a car on credit (Moscow's offers in this regard do not differ from other regions of Russia). It is more important to determine the organization that will offer the best conditions for you. Finding the best car loan - 2019 is not always easy. In order not to waste time searching on the Internet, use our financial portal.

Vyberu.ru will help you get a car on credit without a down payment on acceptable terms. Use the online search engine (located at the top left of the screen) and set the basic car loan terms:

• size,
• payment term,
• currency.

To determine a profitable car loan - 2019, also check additional parameters:

• availability of collateral and surety,
• insurance conditions,
• used or new cars on credit you are interested in,
• application processing time,
• the need to verify income.

In addition, you can use the quick search. For example, if you plan to buy a car on credit without a down payment, select the appropriate item in the menu below. The program will show you only those options that match your request.

By comparing the conditions of various banks, you can easily determine the best program to buy a car on credit without a down payment. The range of offers may differ for each financial institution. You can buy a new car on credit or choose a used vehicle.

On the portal Vyberu.ru you will find complete information on car loans in Moscow. We constantly publish offers from leading Russian banks. The information will help you get a loan to buy a car on the most favorable terms. At the moment, it contains information on 81 banks that give money to buy a car on credit. The number of offers changes periodically. The total number of programs for this type reaches 604. All of them differ in their parameters - interest rate, amount of borrowed funds, repayment period, etc. By comparing the conditions of different car loans in Moscow, you will find the most suitable programs in different banks. With the help of the rating of banks, it is easy to determine the most reliable of the selected financial institutions in order to buy a new car on credit on favorable terms. And using a special calculator, it will not be difficult to calculate the financial burden on your budget and understand whether this or that offer suits you. After that, you will be able to make an informed decision on which car loan in Moscow will be the most profitable for you.

Buying a car is a rather expensive undertaking, so many people prefer a special car loan program. This is a target type of loan, in which the borrowed money can be used exclusively for the purchase of a car, moreover, that meets the requirements of the bank. Consider the question of whether a car loan is profitable and where it is best to get it, we will conduct a brief review of current banking offers.

Benefits of a car loan

If we look at the statistics, then the majority of happy car owners on Russian roads purchased their car with the help of car loans. And their choice in favor of investing in the purchase of bank funds is quite simple to explain: you get the coveted car now, and pay for it in small installments over a certain period of time.

The second advantage is that the borrower is able to make his loan profitable. After all, the bank itself determines the percentage for each client, and it depends on some circumstances: credit history, solvency, age. But the down payment plays a decisive role in this matter, the higher it is, the lower the percentage. Therefore, having a certain amount of their own savings, a motorist can afford to buy either a more expensive and prestigious car or save on interest.

Flaws

Despite all the advantages of car loans, they have a number of disadvantages. The main one is that buying a car on credit significantly increases its cost, and this increase can reach 40-50%, depending on the percentage. And if you really want to get the most favorable lending conditions, then you will have to consider more than a dozen bank offers and spend a lot of time on it.

Another drawback is that the bank will oblige the borrower to insure the collateral, in this case the car under CASCO, which will cost him quite a lot, on average from 4 to 12% from the market value of the car. Moreover, insurance companies are reluctant to insure used cars, because this is a rather big risk, and it is unprofitable for car owners because the cost of the policy will be slightly lower than the current price of the vehicle.

There is another significant drawback, the bank makes a sole decision on the maximum loan amount for each borrower individually, if the level of earnings leaves much to be desired, then you cannot count on a good car loan, otherwise the monthly payment will exceed half of earnings, which is already unacceptable. Although banks also found a reasonable solution here - the borrower can attract a co-borrower if his earnings to buy a car are not enough.

Please note that banks, in addition to collateral insurance, require the borrower's life and health insurance, which is also carried out at the expense of the borrower and, accordingly, increases the cost of the loan.

Nevertheless, one cannot deny the fact that car loans are a popular product and many car enthusiasts are still actively using banking products. The higher the demand, the higher the supply, and, therefore, the tougher competition, it is quite possible to take a profitable loan for a car, we will consider where and how this can be done.

State subsidy program

Currently, some banks, their list will be given below, provide a car loan for the purchase of a new vehicle with state support. The essence of this program is that the state pays the bank part of the interest on a car loan, namely 2/3 of the refinancing rate. That is, 2/3 of the refinancing rate is deducted from the base rate, which today is 10%, or 6.67% (this is a deduction from the base interest) per year.

There are several essential conditions here, first of all, you can only buy a new car that was not owned by an individual. The second requirement is that the car must be domestically produced or foreign, but assembled on the territory of our country. Among other conditions: a minimum contribution of 20%, an amount of 1,150 thousand rubles, a maximum period of up to 3 years.

In which banks does the program work:

• UniCredit Bank;
• Setelem Bank;
• VTB 24;
• Tatfondbank;
• Globexbank.

A potential borrower can only go to the official websites of the bank, carefully study each offer, and, most importantly, analyze the requirements and leave an application there. If offers with state subsidies do not suit you, for example, the cost of the desired car exceeds the established threshold, then you need to study other offers and determine where it is more profitable to take a car loan, we will give several banks and lending conditions.

Comparison of car loan rates in commercial banks with state subsidies

Offers of Russian banks

There are about 1,000 commercial banks in Russia, but not all of them are engaged in car loans. So, for example, recently Sberbank of Russia stopped the car loan program, although most borrowers prefer to cooperate with this bank. Let us consider in more detail which bank has a profitable car loan.

Please note that the choice of car brand is strictly limited, it must be assembled on the territory of the Russian Federation.

VTB 24

The Autostandard program in one of the largest banks in our country is designed for the purchase of any car, regardless of the manufacturer and year of manufacture. The base rate on a loan for the purchase of a new car of foreign and domestic production is 18%, if the borrower agrees to insure the life and health of the borrower for the entire loan period, the rate will be 16.9%, if it is refused, 20.9%. For the purchase of domestic and foreign cars with mileage, rates are higher by one point.

According to the terms of the loan, you can apply for a loan under this program for the purchase of a new or used car, and the rate for the purchase of a new foreign car is more favorable. By the way, the down payment for a new car is 20%, and for a car with mileage 30%. And the last: terms of a maximum of 7 and 5 years.

Rosselzokhbank

If you are looking for the most profitable car loan, then you can find it at Rosselkhozbank. Let's consider the main conditions: the base rate for a targeted loan is 17.5%, which increases by 6 units if the borrower refuses personal insurance. Special conditions are available for reliable clients, minus 2% of the base rate and minus 1% for salary recipients to a bank account.

The maximum loan amount is up to 3 million rubles, the term is up to 60 months, the minimum installment is 15%. CASCO insurance for the purchased car is mandatory.

Credit offer of VTB 24 bank

LocoBank

There are also favorable conditions for car loans, and the bank has several targeted programs, among them lending with state subsidies, as well as offers designed for the purchase of used cars. The interest rate ranges from 13.4% to 16.9%, depending on the chosen program.

Here you can also get a loan to buy a car without CASCO insurance, and according to this offer, the rate is from 16.9%, the amount of the down payment is 25%, the amount is up to 1,500,000 rubles. For other programs, the down payment starts from 20%, and the loan amount reaches 5 million rubles.

Please note that the bank announces the final rate on a car loan after reviewing the documents and assessing the solvency of the borrower.

Customer credit

Be sure to consider the option of consumer lending. How profitable to buy a car on credit? Everything is quite simple here, you do not need a down payment, you can take a loan for the amount that you need. In addition, today banks are ready to provide an amount under the non-targeted lending program sufficient to purchase a new foreign-made car.

If we talk about interest rates, then they completely depend on the decision of the bank. If you are attractive in all respects to customers, then you will definitely be able to get a loan with a minimum rate of up to 15% per year. To do this, you need to be a solvent customer with a positive credit history. It is advisable to contact the financial institution with which you have a positive experience of cooperation.

In addition, this method of purchase has other advantages. Firstly, you do not need to overpay money for CASCO insurance. Secondly, your car after the purchase will not be the subject of collateral for the bank. There is only one drawback, if you need a large amount, you will have to attract co-borrowers or guarantors or provide security in the form of liquid assets, such as real estate.

If you have chosen this particular method, then first you should decide on the make and model of the desired car, determine its market value. Then send an application to several banks and wait for a response, if several creditors gave a positive answer, choose the one with more loyal conditions. After that, you can already look after your options and provide certificates to the bank for obtaining a loan. When the agreement with the bank is concluded and funds are credited to your account, you can purchase the desired car.

By the way, the bank's decision to issue a loan is valid for at least a month, so do not rush to choose a car, you will have enough time left.

Buying a car on credit from an authorized dealer

The procedure for applying for a car loan at a bank is a rather troublesome procedure, because each bank has a list of requirements for the transaction process, so most potential buyers prefer to buy new cars or used cars through car dealerships. Here, the buying process is quite simple, you just need to choose a reliable salon, then choose a car there and make a purchase using credit funds. But this purchase has a number of significant disadvantages. Firstly, car dealerships cooperate with banks, and it is he who decides whether to give you a loan or not. Secondly, here you will not be offered the most favorable rates.

Another question is if you buy a new car from an authorized dealer, that is, a representative of a particular brand on the market. In each region, you can find an official dealer of almost any well-known brand.

The conditions for providing an installment plan or a car loan for buying a car from an authorized dealer depend on the company's policy. In addition, these companies also cooperate with banks, since they themselves are not engaged in lending, which means that the rates largely depend on the lender you have chosen. Some dealers offer minimum rates, for example, from 4.5%, but this is nothing more than a marketing ploy to attract new customers, the real rate will be at least 10-12%.

Which auto loan is more profitable for you, it is difficult to unambiguously determine. It makes sense to consider all options, because for some customers it actually makes more sense to take out a car loan, for example, if the borrower does not have a positive credit history. In any case, it is worth carefully studying the banking services market.