Currently, more than half of new cars are sold on credit. Of course, owning a car today, rather than saving up for it for years, is an attractive option. But only when you take on loan obligations, consider all possible risks and choose the best option.
Before buying a car on credit, choose a bank. Often, car dealerships have representative offices of banks that issue car loans. Ask your loan manager to calculate the approximate cost of the loan with all overpayments and interest. The calculation must indicate the amount of monthly payments and what it includes - the percentage and the amount for maintaining the account. Find out how much it costs to open an account, and most importantly, how much you will pay in the end. The payment schedule must indicate the monthly loan amount, the amount of monthly interest. Below should be the amount of the loan provided and the amount to be paid, together with interest. Then you yourself can easily calculate how much annual interest you will overpay. Contact several banks for a preliminary calculation and choose the most optimal one.
Some banks are tricky and give so-called interest-free loans. But at the same time, you must definitely insure the car with a certain insurance company. In this case, the amount of credit interest is included in the amount of insurance, which can be 10% of the value of the car.
Reputable banks that work with certain dealers, to attract buyers, can announce promotions and discounts on the car when buying them on credit. If you plan to repay the loan in a few months, you can use such an offer, and the interest overpayment will be 10-20 thousand. Remember that the fewer documents the bank requires, the more credit it has. This is especially true of those banks that issue a loan for the purchase of a car without a down payment.
To obtain a loan, provide the bank with a certificate from the place of work on income 2-NDFL. Married couples can submit certificates of both spouses if the salary of one of them is insufficient. You will need a passport and its photocopy, a copy of the marriage certificate (if you are). Fill out the borrower's questionnaire, according to which the bank will make a decision on granting or refusing a loan. If a loan is approved for you, a loan agreement will be concluded with you. After that, you must pay the initial payment for the car to the dealership's account and wait for the bank to pay the missing amount.
