In which bank is the most profitable car loan?

Currently, one of the most popular banking products is a loan for the purchase of a vehicle. It is provided by many financial institutions on various terms for customers. Everyone who plans to purchase transport, it is interesting to know about where you can get the most profitable car loan, because the conditions of different banks can be strikingly different. Competitive struggle motivates financial structures to develop optimal programs for citizens. Today, every second car is bought on credit, so you can conclude that the popularity of loans for the purchase of vehicles. Banks actively cooperate with car dealerships, reduce rates to attract the target audience.

Car Loans in Russia: Key Features

Each bank product has its own characteristics, including the most profitable car loan. In which bank the lowest rates, loyal conditions and a small initial deposit - there and you need to make a deal. Modern financial institutions constantly develop new programs for citizens.

A car loan is a target consumer loan, the security of which is a purchased car. Due to the fact that the TS will be in pledge, the banks require the registration of the CASCO policy. Many citizens believe that the most profitable car loan is one that does not need to buy insurance. There are programs when it is not needed, but in this case all repair costs are borne by the customer if the car crashes and suffers. In addition, the autocassing of CASCO bases, as a rule, has increased interest rates.

Car loan programs have specific features:

1. Money the client most often does not receive, they are immediately transferred to the account of the showroom, where the purchase is made out.
2. Most banks provide a loan only after the buyer deposits a deposit of at least 10% of the value of the vehicle.
3. Transport remains pledged to the bank until the client fully repays the debt.
4. The vehicle's car is stored in the bank before the contract is closed.
5. Almost always, an expensive CASCO policy is required.

Citizens who plan to take a car loan, the most favorable conditions can be offered if the customer makes an initial payment. Otherwise, you will have to pay interest at an inflated rate. The absence of CASCO also increases the cost of the loan by 3-5% per year.

State support

There is a unique product - the most profitable auto loan with a subsidy from the state. It is not offered by all financial organizations, as it is the presidential program. Within the offer, you can buy a vehicle of Russian origin. Also there are some foreign models that are assembled in domestic factories, and they can receive the most profitable auto loan in Rostov, Moscow and other cities.

A subsidy is a compensation for two-thirds of the interest on a car loan. It is calculated at the rate of the Central Bank, which is valid at the time of registration of the transaction. For example, a client plans to purchase a vehicle on credit from Sberbank, where the standard rate is 13.5-18%. With state support, the borrower will need to pay 6.5-7% less. As a result, transportation will be much cheaper for the buyer, and domestic enterprises sell their products.

Under the program with a government subsidy, you can buy a car up to 3.5 tons and cost no more than 1 million 150 thousand rubles. The bank provides no more than 90% of the cost of transport. The loan term for this offer is not more than 3 years.

The most profitable auto loan: low rate

One of the most significant indicators for customers is a small overpayment under the loan agreement. To understand exactly what amount will have to be paid in excess of the cost of the car, you can use the loan calculator, which is present on the websites of most financial institutions. With the help of this tool, you can calculate the workload for the budget when registering a loan and visually see the amount of overpayment.

The rise in the purchase price directly depends on the rate of the financial institution in which the loan is registered. Where is the most profitable car loan? The most attractive interest is offered by the Bank of Moscow, Uralsib and Unicredit Bank. Here you can get a loan at a rate of 9-14% per annum.

A small down payment

Most financial institutions require a deposit that can be up to 40% of the cost of the vehicle, and this is a considerable amount. The most profitable car loan in Volgograd and other cities of Russia is a loan with a small down payment or without it. You can get it in banks VTB 24, MDM and Altaienergo.

However, it should be taken into account that the lack of an initial contribution or a small amount thereof can significantly increase the interest rate. In addition, some financial institutions set additional conditions. For example, you can buy only a foreign car worth half a million. Therefore, it is up to the consumer to decide which car loan is most profitable (with or without low overpayment).

Type of vehicle

Currently, lending programs allow you to buy both new and used cars assembled in Russia and abroad. In each bank there are certain conditions for issuing loans for the purchase of vehicles. In some you can buy only a new car, others, on the contrary, credit citizens who plan to buy a vehicle with mileage.

There are banks where loans are issued only for foreign-made luxury cars (Raiffeisenbank). Very few financial institutions are ready to offer a loan for the purchase of a car that was in use, and those that are ready, make stringent requirements for the vehicle (year of production, condition, etc.). According to many customers, the most profitable auto loan in Ufa and other Russian cities on Second-hand machines can be issued at Gazprombank.

Insurance

Car loans in Russia differ from other banking products in that one of the mandatory items of the transaction is the availability of the CASCO policy. The fact is that the purchased car will be in the bank in the pledge until the borrower fully repays all of its debt. In all advertising proposals, banks voice the rates on loans, which are effective only if a full package of insurance services is issued.

Because of insurance, the purchase becomes more expensive at times. In case of refusal to purchase a policy, the borrower will be able to save on the first payment, but the interest on the loan will increase. In addition, you can choose an insurer yourself, it will also save money on buying a policy. However, not all financial institutions give their clients the opportunity to choose an insurance company.

The minimum package of documents

Many citizens are most unsatisfied with bureaucracy. To enter into a loan agreement, you need a huge amount of information and papers. However, today you can arrange a deal by providing only two documents. If we consider financial institutions from this position, then the most profitable bank for a car loan, under the passport and driving license making loans, is Sberbank of Russia. As a second document, you can also provide SNILS, TIN or military ID.

In addition to Sberbank of Russia, according to two documents, the deal can be formalized in Rosbank or VTB 24. As a financial institution can not verify the solvency of a potential borrower without relevant certificates, such a loan will be accompanied by increased interest. In addition, the bank may require a significant deposit, which is not always convenient for the client.

Programs from manufacturers

Many official dealers try to develop special offers for customers who want to purchase a vehicle of a specific brand to increase sales of their products. Thus, Toyota Bank and Renault Nissan Bank appeared on the market. Here you can buy a certain brand and model on very attractive terms.

Also it is worth paying attention to seasonal offers and partner programs of banks with official dealers. As a rule, the conditions for clients on such credit programs are very tempting.

Programs of VTB 24

This financial organization is the second largest in Russia and offers citizens a huge number of services and products. Car loans are very popular and very well developed in VTB Bank. Here you can draw up a loan with a subsidy from the state, take advantage of privileges for corporate clients or conclude a lucrative contract in the framework of acting shares.

The standard conditions for car loans in this bank are as follows:

• The amount is no more than 5 million rubles;
• You can buy TS of Russian and foreign production;
• Rate of 14% per annum;
• Deposit - not less than 15% of the cost of the car;
• The contract is valid for up to 5 years.

Favorable rate in Gazprombank

This financial institution offers the most profitable programs to corporate clients. The rate for auto loans is relatively low here, and in recent years there have been no significant increases. The borrowers can arrange a loan agreement in this bank for a term of up to 7 years. The base rate for auto loans is 14% per year, but regular customers can get a discount of 1.5% per annum. The bank requires a deposit - at least 20% of the cost of the car and issues loans in the amount of not more than 4.5 million rubles.

Offers from Sberbank

A large selection of various auto loan programs for Russian citizens is offered by Sberbank of Russia. Here it is possible to issue a loan for the purchase of a foreign car or a domestic car. The size of the overpayment directly depends on the credit period and varies within the limits of 13.5-16% per annum. In the presence of a quota, it is possible to issue a lucrative car loan with a state subsidy, if the customer is not against domestic transport.

For all programs, Sberbank requires a down payment, the amount of which must be at least 15% of the cost of the car. Maximum for the purchase of the vehicle is 5 million rubles. The term of the loan agreement is up to 5 years.

Sberbank provides discounts of 1% per year on car loans to the following categories of citizens:

• Salary customers;
• Depositors;
• Holders of social cards who receive a pension.