Due to the fact that the difference in price between new and used cars is quite noticeable, the latter are in stable demand among Russians. The number of banks that offer to take out a loan to buy a used car is growing every day. Currently, borrowers can purchase a used vehicle from both an individual and a car dealership.
It is necessary
- - identity document (original and copy);
- - certificate of income from the place of work;
- - a copy of the registration certificate of the car that is planned to be purchased.
Instructions
Step 1
The loan term for the purchase of a used car can be up to 5 years, but it will be necessary to make an initial payment of at least 50% of the total cost of the car. At the same time, when applying for a new vehicle on credit, the initial payment can range from 0 to 15% of the cost of the car.
Step 2
You can get a used car on credit at an average rate of 12-13% per annum in rubles. In addition, many lending institutions charge a commission from borrowers for processing and issuing a loan.
Step 3
After the bank approves the application for a car loan, before the borrower is given funds, he will need to issue a CASCO or OSAGO insurance policy.
Step 4
In addition, the borrower will need to incur additional costs associated with the car appraisal procedure. Based on all costs, the effective rate at which you can borrow a used car is up to 20-30% per annum. And its final size is determined depending on the size of the down payment, the loan term and the characteristics of the car.
Step 5
The purchase and sale of a car takes place in the presence of the seller and the buyer. Moreover, at the time of the conclusion of the contract, the car must be removed from the register at the traffic police.
Step 6
When purchasing a Russian-made car on credit, its service life should be no more than 3 years, and foreign cars - no more than 7 years.
Step 7
Registration of a used car on credit at a car dealership is carried out in a similar way. Only the borrower first needs to make an initial payment to the cashier of the car dealership, then issue an insurance policy and a loan to buy a car, and only then the loan amount is transferred to the current account of the car dealership. In this case, the TCP is kept in the bank until the loan is fully repaid.
