Despite the global financial crisis, serious banks remained “afloat” and continue to actively offer credit programs. A car loan is a targeted loan, so the average rate for it is lower than for consumer loans. Apartments, cars and many other large purchases, with a competent approach, are still profitable to purchase on credit.
Instructions
Step 1
Visit car dealerships, specialized car fairs. Select several car models for analysis based on the cost parameters and loan terms.
Step 2
Analyze your active and passive income, determine the monthly minimum for the reserve fund in case of force majeure. Calculate your personal budget and determine the amount that you can pay without too much damage to your usual expenses.
Step 3
Collect information about the reputation and credit conditions in several large banks, car dealerships. A number of banking institutions operate under the government's preferential loan program. Ask for a sample contract to study. Take advantage of detailed advice from several loan officers, but do not make a decision immediately.
Step 4
Visit the sites of the selected credit organizations, go to the "calculator" page, set several options for the amounts, save the results obtained in a separate file in order to compare and make a decision.
Step 5
Please note that the interest rate is not fixed in the agreement, since it depends on the following criteria: the amount of the first installment (the larger it is, the lower the percentage), the loan term, the type of currency. Pay a larger advance and reduce not only the base payment, but also the overpayment. Experts recommend using a loan in national currency, due to the volatile global financial market.
Step 6
To reduce your recurring payment, explore the new Buy-Back lending scheme. According to it, the purchase is made in the salon, which partners with the bank and independently pays from fifteen to forty percent of the total cost of the car.
Step 7
Prepare a standard package of documents, fill out an application, after a while you will receive a reliable and faithful assistant - a car. Pay off the loan, re-register it or take another car, returning the old model to the salon.
