About a couple of years ago I repaid a car loan, I bought my Chevrolet Aveo in 2012 and applied exactly this type of loan from a bank. But many people asked me - why exactly a car loan? And let's not say the usual consumer, where you have 100% control over your car? You know, there are a lot of reasons for this, and if I were buying a car now, I would probably think 10 times to take one or another type of credit. So let's think about what is better and more profitable to take, so as not to regret it later ...
You know, I myself racked my brains before, but “running around the rake”, nevertheless, I came up with the optimal type of lending. I would also like to note that now there is a crisis in the banking sector, and not all banks issue money specifically for a car, but the consumer market has almost recovered. Although the rates have gone up. So let's take a look at a car loan for a start, why it is so terrible and why many are afraid of it.
Car loan
This is a type of lending ONLY for a car, it is not possible to get it for anything else! This is where the name comes from. Banks develop both special programs for a specific brand (often you can see special loans for purchase in the salons of official dealers), and universal programs for all manufacturers at once, that is, a fixed rate and a fixed period.
The government also often supports car loans, for example, subsidies for loans work for cars worth up to 1 million rubles and for a period of up to three years. The state extinguishes part of the interest on the loan, thereby you take only at 6 - 7% per annum (if I'm not mistaken).
In general, this is pure credit, sharpened only for the purchase of a car, and nothing more, so the rate on it is lower, now it can “float” from 7% (government subsidies) to 13-14% from banks.
It's time to think over positive aspects :
- Low loan rates. Yes, they are 30 - 50% less than those of the consumer.
- Fast paperwork, often you only need a passport and driving license.
- Subsidies from the government, you can take from 6 - 7% per annum.
- All kinds of offers from official dealers.
- It is possible to take for a period of 3 to 7 years.
Actually, there are enough advantages, I personally took my car at only 12% per annum for five years, which is really profitable. But behind the positive aspects, there are also a number of negative ones.
Minuses :
- The car is pledged by the bank, which is why the loan rate is lower. That is, it does not belong 100% to you! Often the PTS is at the bank, and it is impossible to sell or make other variations with the car! ONLY AFTER COMPLETE CREDIT CANCELLATION! To be honest, it is very annoying.
- You definitely need to insure yourself for CASCO every year! It also aggravates and, in my opinion, negates the plus of the lending rate. Although personally I, as we read the link.
- Often, a car loan is given only for a new car! This is very expensive, because the difference between a used (2 - 3 years) and new one "brand and brand" can be 20 - 30%.
- Dealers often weld on such cars. That is, they begin to impose on you to install their equipment (alarms, navigators, etc.), but it costs "exorbitant". And you allegedly cannot refuse, although it is not legal!
- What else would I like to add on my own. This is the attitude of people with a car loan, as a rule, a mark is put on the title that the car is on credit (or was in it). And even if you successfully extinguished everything, you need to prove to the potential buyer that you are white and fluffy. That is, you are no scammer. Therefore, I advise you to always take a cancellation certificate from the bank! It is important.
As you can see, everything is not so smooth, if you close all the disadvantages of a car loan, then CASCO simply breaks the benefits! Although if you use my scheme, you can avoid it. What about the consumer option?
Consumer loan
Here, in fact, there is nothing special to explain, "he needs it and is a need." That is, it is taken for various purposes, and not specifically for a car. Therefore, the interest rate here will be much higher!
Now the rate ranges from 17 to 25% it all depends on how long you take. This is almost twice as high as that of the automotive program, it is worth remembering.
It is also worth noting that now they are reluctant to give large sums for consumer needs, for example, if you take a used car, then you need from 300 to 500 thousand at once, and if you take a new one even more. You need to have a good credit history and confirmed earnings, otherwise you will be denied "demand". This is inconvenient for those who work according to a “gray scheme” that cannot be defeated in any way (as well as corruption itself). But the pros of consumer credit also a lot, let's list:
- This is freedom. That is, no one can force you to buy additional equipment and so on, if in one salon they simply impose - "we send and that's it!" You buy a car for cash, which means that there can be no forced installations.
- No CASCO required. You want to insure, but you don't want to!
- Owned car. In fact, you just took money, which means you can sell your car at any time. And let's say, pay off the balance of the consumer loan.
- There is no encumbrance on the TCP, there are no inscriptions. This is also a plus.
These are very big advantages, and significant ones at that. It should be noted that there is no CASCO, this is just a gift. However, there are also disadvantages. :
- Large loan rates, the overpayment is simply huge, sometimes a quarter (that is, 25%) per year.
- They may not approve of a large amount, but with such a purchase, it is just what you need.
- In the long term, the interest is almost always much higher.
- There is no protection of the car at all, if they stole or you crashed, then no one canceled the consumer loan.
That is, it is at your own peril and risk. If you want to rent a car for that kind of money and interest, then this is your choice.
So what should you choose in the end?
Guys always need to be smart about buying. Personally, I think both options can be considered. "How" - you ask? Everything is simple, here are two examples:
- You buy a car that is not new up to 200 - 300 thousand rubles. Nobody will give you a car loan for it, and there is NO special sense in taking a car loan! Take a regular consumer loan for three years and buy a car, and the rates will be sane and there will be no encumbrances. That is, if you wanted to sell the car.
- You are buying a new car. For example, you sold an old one and you really do not have enough, you can also consider a car loan, and why not! Also count on 2 - 3 years, sometimes you don't have to pay CASCO (left the link above). And the lending rate will be really low. Well, the car is pledged by the bank, so what! We are not swindlers, we need to ride it, but for everything else it will do just fine.
This is my personal opinion. What do you think? Please vote, I am interested in your choice.
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