Take a loan?
Overpayment is in terms of credit. Have you carefully studied terms before they buing a car loan?
«Vehicle, it is not a luxury!» - This aphorism becomes relevant. Where to take money to purchase a vehicle? Earlier, many years of saving money, dreaming of a miracle. And now you can obtain car loans and enjoy a miracle now. Better would certainly get free credit for purchasing a car, but it does not happen. Auto rapidly included in our lives and making personal travel more accessible, but also more expensive. Many commercial banks are actively involved in this niche and, given the growing competition among banks for customers, change and simplify the requirements for obtaining loans for the purchase of both new and used cars of any production.
So you've decided to buy a car on credit. Money is not enough or you simply have not. Not a problem. Car loan will help you. Where to start? You have two options. The first option - select banks issuing loans to purchase of a vehicle, and methodically circumvent them. In each bank, you need to clarify several issues:
* Interest rate for the Car. Never search for a very low interest rates, they always added the high rate of associated services;
* What the amount is arranged car loans;
* Of the value of collateral credit banking services (credit application for consideration for the purchase of vehicles for the maintenance of loan account borrower, for the evaluation of collateral for the issuance of cash or a non-cash transfers ...);
* In what currency loans for cars. Better to that in which the benefits paid. Car currency - this loss on conversion and currency fluctuations;
* If there is, to what amount of initial investment equity borrower, for the new machines set the standard for each of your bank, the percentage of the initial fee. Used cars - based on age;
* Does Car executed without sureties, if not, as guarantors required;
* For how long is arranged car loans, and whether early repayment;
* Dealers with which the bank is working on registering car loan;
The second option - choose the make and model of car and come to car dealer, to make car loans. Or simply choose car right at the dealer shop. And even better if you can select car from the catalog and specify exclusive options. In the car dealer shops there is commercial bank loan officer, ready to give you a loan for buying a car. He you can get detailed advice on all car programs. It's very convenient: no need to travel from the passenger compartment in the bank, there is no need to collect additional documents.
Each bank determines its list of documents required for car loan. To get car in credit, you must have the following documents:
* Passport of the borrower and its copy;
* Papers from job (on seniority);
* Papers about your salary (not always);
* Driving license
The requirements of banks for borrowing nearly the same: the age from 18 to 60, permanent residence in the region where you claim for a loan, the availability of money for an initial contribution.
Car loans made out on bail, bought the car, sometimes require additional surety. And one of the conditions for issuing car loan - a guarantee of secure collateral. It provides insurance. This is not about regular car insurance, but the total automobile insurance (damage + theft). Typically, the dealer shops always together with a representative of the bank and employees are insurance companies who will make automobile insurance policy right there. For the registration policy, you have to spend 6 - 13% of the value of the car - this is great, but unavoidable costs. In addition, loan cars can not be sold or transferred to another person before the full repayment of the loan.
Commercial banks are now arrange the loan for a new car, as well as a loan for a used car of any make.
Choose Commercial Bank and the automobile, where you want to take credit for vehicles and draw up the documents you need to very carefully. Not recommended to choose Commercial Bank, where the cheapest rate. This is a misleading impression. Banks will never work at a loss and do not give free Car. The lower the percentage, the greater the variety of additional commissions. For example, some banks does not take many types of fees (consideration of applications for car loans, etc.), but he provided monthly fee for maintaining a loan account, with each month of the initial loan amount. If it does not pay due attention, the last payment for the loan could be several times less than the payment of maintenance loan account. Therefore, you need to ask in a bank account to make all the payments and for the entire period of credit. And you, my advice, take the draft treaty on the car home and read it carefully. Before making a final decision on the selection of the bank, get all the pending charges. In fact, it may be that instead of 9% per annum, you will have to pay more than 25%. Good luck in finding your miracle!
Before you take a decision on a loan through banks, whose rates are higher, I recommend you read the service of other banks. Conditions may prove more profitable.
