Interest-free car loan. Car loan without interest What car loan can be without interest

Buy new car with installment payment and without interest - this service is offered today by car dealerships. We will tell you how much an interest-free loan actually costs later in this article.

Who pays the interest?

Selling cars in installments is unprofitable for car dealers, but times of crisis force them to look for solutions to this problem as well. To increase sales, car dealerships are ready to provide customers with a discount.

It is he who compensates for the interest that will be accrued by the bank. This is how you get an “interest-free” loan. In practice, the scheme looks very simple: the client purchases a car at the dealership and pays a contribution of up to 50% of the cost.

He already pays the rest of the amount to the bank in equal installments over the entire loan term. Car insurance is mandatory.

Is there any deception here? The marketing ploy that car dealers use to attract buyers suggests that you can buy a car on credit without interest.

Consider the diagram on simple example: a car worth 600,000 rubles is offered, on credit at 0%. The client deposits 300,000 rubles at the salon’s cash desk and signs an agreement with the bank for the remaining amount.

In that document, in addition to the principal debt of 270,000 rubles, interest in the amount of 30,000 rubles appears. This is 10% of the debt amount! Where is the promised 0%? But on the other hand, the car will not cost the client more than the stated price of 600,000 rubles.

Is it possible to buy a car cheaper? Of course there is! Only for cash payment, receiving a discount at the car dealership. If we use the same example, then buying a car for cash will cost 570,000 rubles.

We provide conditional figures for ease of understanding of the transaction scheme.

What sells cheaper?

Finding out which cars you can get an interest-free loan for is not difficult: just visit a car dealership or follow the dealer’s promotions on its website.

Several years ago, when sales of new foreign cars were booming, banks competed with each other for the opportunity to provide car loans to buyers.

They paid dealers a commission on every loan they processed. Discounts were provided to customers only for “problem” cars - last year of production, with minor defects, etc.

Sometimes manufacturers carried out promotions by selling certain models on credit with low interest rates.

Today the situation is the opposite: car dealerships pay banks. Buying a car on credit with a zero interest rate is possible from official dealers working in tandem with major lenders.

But the approach of sellers to selling cars has not changed: marketing campaigns (including “interest-free” loans) are aimed primarily at stimulating the purchase of “problem” cars. The main model range is sold for cash or according to the classic car loan scheme.

What's the benefit? As a rule, in the price and terms of sale: the client buys a car in installments, taking out an interest-free bank loan for the purchase of a new car.

The dealer receives the amount for the sold goods from the client and the bank. The bank receives its interest. If the terms of the transaction are satisfactory to all parties, then it is considered mutually beneficial.

But when deciding to buy a car this way, it’s worth considering other options. For example, traditional car loans.

Bank offers

Issued subject to an initial payment of at least 20% of the purchase price. If compared with “interest-free” installments, in which you need to pay half the cost, then a car loan may turn out to be more profitable.

Today economic situation The country is not conducive to large expenses, and borrowers prefer to take out a loan for a long term, making small monthly payments. Car loans meet these criteria and can be obtained for terms ranging from six months to seven years.

Almost everything large banks cooperate with official car dealers, offering special programs.

For example, for some VAZ models you can get a loan from VTB 24 with a remaining payment of 20 to 50%.

UniCreditBank issues loans for cars of a number of well-known Western brands.

Sberbank today has no offers for car buyers: Cetelem Bank has taken on this role, offering a line of thirty car loans.

Tariffs vary. A loan under the state program can be issued at 10% per annum. Standard offers range from 13% to 20% per annum.

Here are some examples of proposals:

Clients with positive credit history can count on low interest rates on a car loan.

Comparison of the two methods must be carried out according to a number of parameters:

• the amount of the down payment;
• monthly payment amounts;
• additional expenses (insurance, registration, commissions);
• total overpayment.

What to choose in the end, an “interest-free” car loan or a classic one bank loan, the borrower himself decides. We recommend comparing financial conditions two options and choose the best loan for yourself.

Citizens of Russia have the opportunity to receive an interest-free loan for the purchase vehicle. This is not a widespread phenomenon; only a few banks in Russia provide installment plans. Financial institutions establish promotions on certain car models and, together with banks, issue loans against 0% per annum for this brand of car.

Although employees of banks and financial institutions praise this opportunity, to the common man such a program may not be affordable. Often, classic car loan options provide better offers.

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Payment of the installment on this car loan is made only once, the amount is specified in the agreement. The contract does not provide for any other contributions. The bank, acting as a lender, is not, in fact, involved in issuing a loan.

All documents are prepared at the car dealership. The contract provides for all details credit program and additional conditions.

Features of receiving

This program provides for the purchase of a vehicle, both imported and domestic production only in the car dealership that has an agreement with financial institution, acting as a borrower. This loan program is most beneficial for clients who have the opportunity to make a significant down payment and pay for insurance.

The down payment amount is usually 30 – 50% from the cost of the goods, it is determined by the duration of the contract. Despite profitable terms, most buyers prefer the classic lending scheme - without a fee. This is due to the inability of borrowers to pay an initial fee.

An interest-free car loan is issued to a borrower of age from 18 to 60 years old, if the client’s life insurance is not provided. The monthly payment under the loan agreement should not exceed 40% total income borrower.

The car must be insured; often the choice of the insurer is made by the borrower

Controversial issues

Is there a catch?

Having carefully studied the loan agreement, it is unlikely that an ordinary client will be able to find a catch. The only mandatory fee is the loan application fee. Are financial organizations really engaged in charity? Let's consider existing schemes according to which the borrower receives his profit from a supposedly “interest-free” loan.

Factoring lending scheme. According to this program, the borrower takes out a loan not from a bank, but from a car dealership that is a partner of a financial institution. After concluding the agreement, the bank buys the loan from the salon and becomes its full owner.

The car dealership sells the right to a loan to the bank at a lower price than specified in the loan contract. The difference in amounts is the profit of the financial organization. The car dealership's income also increases due to increased product turnover. This is the official version that the bank can tell you.

Since the demand for cars is high, it is not always profitable for car dealerships to work according to this scheme. In this case, the banks themselves pay extra to the salons so that they implement their credit programs. But even with this state of affairs, financial organizations remain winners.

The catch is that the amount insurance policy under the interest-free loan program will be significantly higher than under the standard credit scheme. The choice of insurance company remains with the lender. The financial organization enters into a contract with the insurance company in advance, and the insurers give a percentage of the profitable insurance premiums to the banks.

Often, the owners of banks are also the owners of the corresponding insurance companies to simplify the money laundering procedure. If banks offer about a dozen insurance companies under classic loan programs, then an interest-free car loan usually provides for two to three companies.

This creates the illusion of the client's right to choose. In fact, all insurance companies cooperate with the lender on the same terms; in each of them, the client will be quoted the same cost of insurance premiums.

What is the benefit

Thanks to interest-free loans and cooperation with banks, car dealerships increase their turnover and attract new customers. Often these programs act as advertising to increase demand for a certain brand of car. Benefit from such financial transaction all its participants receive.

The car dealership gets the opportunity to increase sales and customer base. This is very important in a competitive environment, since car dealerships are responsible for selling cars to the manufacturing company. By the end of the year, it is necessary to fulfill the sales plan, so promotions in the form of interest-free loans are usually held closer to the New Year holidays.

For the buyer, this is a real opportunity to purchase a car without significant overpayments. With the right approach to the loan repayment procedure, this is a chance to buy a car and not spend large sums of money on paying interest on the loan.

The bank receives profits either from the car dealership (with a factoring lending scheme) or from the insurance company. Insurance premiums for a credit car is significantly higher than standard. Therefore, a car purchased with an interest-free loan often turns out to be more expensive.

Popular offers

Raiffeisenbank

Raiffeisenbank provides the following brands: Chevrolet, Honda, Lifan, Hundai, Kia, Opel.

You can buy Chevrolet at following conditions: sum maximum loan amounts to 3 million rubles, installments are provided for a period of one year up to 5 years.

With such loan parameters, the bank’s risks are minimized. Our customers can only dream about the lending programs provided by European financial institutions.

Sberbank

Sberbank provides: Chevrolet, Hundai, Kia, Opel, Mercedes-Benz, Cadillac, Peugeot. The conditions apply only to the purchase of new cars. Purchases are made only from an authorized dealer. The terms of the promotion apply to certain models of cars.

The purchased car serves as collateral for the loan. If the borrower is unable to pay the debt, the car is repossessed in accordance with the terms of the contract.

To minimize banking risk the agreement provides a significant amount down payment. The amount of the down payment depends on the cost of the car and the repayment period of the debt.

A prerequisite for purchasing a car under this program is the purchase of a CASCO insurance policy.

What to remember about interest-free loans

The buyer of a credit car must understand that this purchase will not be free of charge. The borrower is obligated to repay the loan and pay interest.

Before applying for a loan, pay attention to the following points:

• Assess your ability to repay debt obligations. Think about whether you really need a loan. Remember, terminating an obligation is much more difficult than entering into one.
• Before signing, carefully read the requirements and terms of the contract. If the terms of the contract are not clear to you, you have every right to clarify them with a representative of the financial institution.
• Before signing the agreement, please pay attention to total cost car with the provided equipment, it may differ significantly from the amount indicated in the advertisement.
• If the terms of the contract include the right to choose an insurer, consider everything possible options and choose the most profitable one for yourself.
• If it is not possible to pay the debt and there is a good reason for this, you must immediately contact the creditor bank with all supporting documents.
• If your car is stolen, loan payments cannot be suspended.
• When purchasing a low-quality product, the client has the right to return the purchased car and demand compensation for damage (in court).

Advantages and disadvantages

A car loan without interest is a temptation for many car enthusiasts, especially beginners. Today, many car dealerships, with the support of various banking institutions, provide the most favorable conditions, allowing customers to purchase vehicles with minimal initial costs. Moreover, most often such offers are relevant not only for imported cars, but also for domestic models. What is hidden behind the “interest-free” loans? What conditions do banks actually provide? How profitable is it to take out a car loan at 0 percent? We will answer each of the questions.

Is it worth taking out an interest-free car loan?

To answer this question, you need to understand traditional systems lending. And they offer paperwork for a period of 5–7 years, for which the borrower most often has to overpay up to 100% of the original amount, and sometimes more. If you take one, issued, for example, for 2 years, the increase in price will be significantly less - 10%, but for this you will need to pay a large amount initially – from 50%.

Therefore, many clients of car dealerships, having at least 2/3 of the cost of the car in hand, try to either wait and collect the entire amount, or borrow from friends without getting involved in loan obligations.

Of course, if the car dealer offers good price, the necessary equipment and an interest-free loan from the bank for short term, then you should take advantage of these conditions. The costs will be minimal.

Pitfalls of an interest-free car loan

A car loan without interest at a car dealership is a tempting scheme that has its own nuances. If we consider such conditions from the point of view of legislation, there cannot be an absolutely interest-free car loan, which is indicated even in Civil Code. In this case, the minimum is used interest rate, for example 0.0001% per annum.

When trying to buy a car on credit, it is worth considering insurance. This is an additional expense item that will require about another 6% of the amount per year. If you plan to issue a loan without interest, as a rule, banks force you to pay a one-time commission, which is another 5%. Also, an additional requirement may be the need for life insurance for the borrower.

Car loan without interest – profitable purchase, however, one more nuance needs to be taken into account. When issuing loans, any banking institution takes into account the price of deposits on the market. If the client is promised 0.0001% per annum with a down payment of 10%, the reality may turn out differently.

Very often banks write in small print in the contract additional condition– for example, the size of the monthly commission, which is 1%. As a result, the real interest rate will not be 0.0001%, but 20% or more. In addition, such commissions are often tied to the body of the loan, and not the balance, so the amount will not decrease even at the end of the term.

And banks are not shy about increasing penalties for such loans. And any delay in payments promises the borrower a serious increase in the amount of the required contribution. Banks are not missing out on their profits. And even if they promise really favorable conditions for the borrower, they make money on other schemes.

For example, cooperation with insurance companies that benefit from the sale of comprehensive insurance policies, which means they are ready to share with banking institutions to increase their turnover. In addition, car dealerships often offer banks additional discounts on cars, which further increases the profitability of lending.

To register a car under interest-free lending, the bank usually requires the following conditions to be met:

• age – 21–60 years;
• monthly payments cannot be more than 40% of income;
• Insurance can be obtained from a company that is listed in the list of partners of the banking institution.

The minimum package of documents that the borrower will have to provide:

• passport and driver's license;
• certificate of income from the place of work.

For a positive decision on the application, the income must be high and stable, the length of service at the last job and other nuances are taken into account.

Calculations of upcoming expenses

First, you need to find out from a bank employee how the monthly commission is calculated: on the loan amount or on its balance. It is best to ask for an example of a contract to guide your calculations.

If the commission is determined depending on the loan amount, the calculation will be simplified. The advance is converted from a percentage into a monetary format, taking into account the cost of the selected car model. The resulting difference between the price and the advance is the body of the loan. And then you need to take into account everything that the bank will charge.

Let's give an example. The vehicle costs 1 million rubles, the advance is 10%, then we get the loan amount - 900 thousand rubles. If the monthly commission is 0.9%, the amount of regular payments is 8.1 thousand rubles.

The loan body must be divided by the number of months of the loan to obtain the amount of installments. For example, the loan term is 24 months, then every month you will have to repay the loan amount in the amount of 37.5 thousand rubles. To this amount we add the monthly commission and we get monthly payment– 45.6 thousand rubles. You will also have to add the cost of insurance.

What do you need to remember?

If you decide to buy a car on credit with minimum size annual interest, then you should consider the proposed conditions from different banks, and also take into account some aspects:

1. First, you should weigh the need for lending. Is a bank loan as necessary as it seems? It may be better to ask friends or relatives if there is relatively little small amount compared with total price car in a car showroom? If there is a chance of buying a car without a loan, it is better to do just that.
2. Sober assessment financial opportunities- salvation from the debt trap. You need to imagine that the loan is not taken out for one month; it will have to be repaid as planned over a long period. Monthly income should be not only high, but also stable. Sign loan documents- only half the battle, it is much more difficult to make payments in the required amount every month before full repayment debt. This is especially important if an interest-free loan is issued, since the terms of such agreements usually provide for increased penalties.
3. You should take your time when signing documents. You need to carefully study the conditions, ask questions to a bank employee in order to thoroughly understand all the nuances: the amount of overpayment and monthly payments, methods and terms of payment, etc. Special attention should be given to parts of documents where the text is written in small print, since the main banking tricks are hidden precisely in them.
4. When signing a contract at a car dealership, you need to pay attention to the price of the car with the required configuration. Sometimes this amount turns out to be significantly higher than previously stated.
5. You also need to review the insurance conditions. Most often, banks indicate those companies with which they will have to enter into an agreement. You need to familiarize yourself with the main offers to choose the best one.
6. Upon receipt of a defective product, if it is returned, the buyer has the right to demand compensation for losses.

You need to remember if the borrower is unable to pay obligatory payment, he needs to inform the bank about this, preferably in writing and indicating good reasons, as well as providing supporting documents.

Russian citizens now have the opportunity to purchase a vehicle on credit without annual interest. But is this loan beneficial to the buyer and what is hidden behind the attractive zeros of car dealerships?

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What is it and is it possible to take it?

A car loan with zero annual interest is not a widespread phenomenon, but it is also not so scarce. A dozen Russian banks offer attractive installment plans for vehicles.

Financial organizations, collaborating with banks, organize promotions for certain brands of cars and issue interest-free loans. Institutions praise this type lending as the most profitable and easiest way to buy a car.

Especially focusing on the fact that money is given in installments almost free of charge.

As practice shows, an interest-free loan is not always free. This loan may not be affordable for a commoner who will more than once regret not taking out a car through the classic car loan program.

To be honest, there are more profitable car loans on the market and options for how to borrow money.

Having analyzed the contracts financial organizations, it is almost impossible to find a loophole that leads to trickery and deception. Everything is competent, clear and precise.

You will not find any commissions, which often hide easy money, or other tricks that turn a zero loan into an expensive loan.

During the process of applying for this car loan, you will be asked to pay the fee only once. The amount itself will be specified in the program. It is not too large and does not hurt your eyes in comparison with insurance payments.

As for other contributions, they are not provided. So, where's the catch? Factoring scheme is a series of financial and legal operations, according to which the purchase and sale of a vehicle to customers is carried out.

The creditor bank, cooperating with the car dealership, essentially does not issue any loan. According to the documents, vehicles are purchased in installments at the dealership, and the financial organization has nothing to do with it.

The car loan program specifies details, loan term, and additional conditions.

The next stage is key moment scheme. The financial institution fully purchases the rights under the agreement and becomes the sole creditor. What you owed to the car dealership is transferred banking organization.

On the one hand, the bank helps to repay the loan to the borrower, and on the other, it makes money on the clients. For example, a car costs 50 thousand dollars. Half of the amount is paid by the buyer in the amount of 25 thousand, and part is paid by the bank, but not the entire remaining amount of money, but 23 thousand.

In fact, the borrower must repay the loan in full amount 50 thousand. And now the difference of 2 thousand dollars is the earnings of a financial organization from scratch.

That is, car dealerships simply sell the rights to loans at slightly lower prices, without losing much profit. After all, sales and product turnover are increasing. And for the bank it’s a great opportunity to make money personal money. This is the official version distributed by all media mass media clients.

In fact, the schemes and calculations are slightly different. When sales are going well in stores, it makes no sense to sell credits at reduced prices. Then financial institutions themselves overpay the salons in order for them to implement their lending programs.

If car dealerships could regulate and forcefully raise the cost of vehicles, the discounts would be noticeable. They can’t do this, and it’s not profitable. Such manipulations will lead to the loss of your customer base.

And it turns out that financial organizations do not work according to factoring schemes. Zero loans are not tied to a specific car dealership; you can purchase a car from another dealer.

So who pays for the “holiday”? The answer is obvious, everything falls on the shoulders of the borrower. Car insurance under this installment plan costs much more than standard car loan programs.

Choice insurance agent The bank does it for you, and you have no right to change anything. The financial organization enters into agreements with insurers in advance regarding clients on interest-free loans. The conditions are simply unrealistic and expensive.

The insurance company gives a percentage of the profitable policy to the bank. That's the whole scheme - financial institutions launder money through insurance companies, which in 90% of cases have the same owner. That is, both the bank and the insurance company are one entity in the form of a monopolist in the market.

What are the advantages and disadvantages

Often, financial institutions do everything possible to attract clients to their car loan program. Buying a car in installments has both pros and cons.

pros

If you need to purchase a vehicle quickly and desperately, then an interest-free loan is ideal. They process it very quickly and without problems.

Speed ​​increases by decreasing necessary documents to obtain this loan. Zero credit is somewhat similar to an express loan.

A significant advantage of an interest-free loan is considered to be the opportunity to purchase domestic vehicles, which was impossible to do before.

And the cost of insurance for foreign manufacturers was significantly higher. When early repayment installments – there are no overpayments.

Minuses

But not everyone will be able to afford a tempting car loan. To the client who decided and chose this program You need to have a decent amount at the beginning. The first thing you need to pay is the down payment. It can amount to a third of the cost of the car.

The most harmful thing in this process is purchasing a CASCO policy. Choose insurance company there is no possibility, and the proposed policy is very expensive.

Insurers, trying to appear “good-natured”, offer loyalty programs and bonus discounts. However, not everyone is given them, and they can only be obtained if they comply with certain rules.

What are the requirements for the borrower and the car?

The main requirements for a borrower to obtain a car loan are the following guarantees:

• providing a passport of a citizen of the Russian Federation;
• driver's license;
• income certificate.

If you have not convinced the lender of your solvency, the bank may request additional documents, which will confirm your financial condition. This could be a work record or a foreign passport.

The minimum age of the client must exceed 21 years. The loan must be repaid by the age of 62 for men and 52 for women.

Car loans are mainly issued for a period of 1 to 5 years. Maximum amounts can reach 140,000 - 150,000 thousand dollars. Annual percentage absent. The down payment is on average 50% - 60% of the loan amount.

Design features

An interest-free loan is a loan provided to the borrower without mandatory annual overpayments. She is popular among the population. But how sweet this loan, and what nuances exist when designing it?

There are two types of zero credits:

• consumer loan;
• interest-free loan with grace period.

An interest-free loan with a grace period can be obtained by using credit funds from a card. The possible amount is strictly limited.

When a credit card is cashed out for a period of 40, 60 or 100 days, and it concerns the amount of the bank’s debt, the financial institution does not charge any fees.

The main thing is to pay the required amount banking organization during the specified period. If the debt is not repaid on time, then interest appears in the form of late fees for non-repayment.

A consumer loan can be used to purchase domestic and foreign cars. You can get an interest-free loan for a new car at a car dealership that cooperates with banks.

A special feature of obtaining an interest-free loan for a domestic car is a lower payment for insurance. As is known, under zero credit Huge prices are hidden behind CASCO insurance.

If you purchase a car from our auto industry, the loan will be more profitable than a loan from standard program car loans. After all, you don’t have to pay a lot for an insurance policy.

When applying for a transport loan with zero installments, carefully read the terms of the agreement.

In case of violation of points included in the mandatory ones, fines will be imposed on you. Sanctions in various banks their own and depend on the degree of violation, loan term, and age of the car.

Where can I get an interest-free car loan and under what conditions?

The country's largest financial institution has revised its policy in the field of car lending and began to provide loans at zero interest. Such changes have led to a large influx of customers.

But Sberbank, as you know, is famous for its toughness towards clients and harsh conditions for obtaining a loan. This time he set the monthly commission percentage from 1% to 3%.

They also charge the client additional payments for the execution of the contract, for consideration of applications and use credit funds from maps However, the advantage is a small initial payment compared to salons. It is equal to 20% - 30% of the price of the car.

An interest-free car loan from Sberbank can be applied for online. But to conclude an agreement and receive money, you must contact the bank. List of financial organizations that provide interest-free car loans to their clients:

What to remember when checking out

If you purchase a car through interest-free loan programs, be sure to read the terms of the contract. Study each item carefully and try not to miss anything. If you have questions, ask them to the staff.

In order to attract buyers, automakers and dealers resort to various promotions And special programs, promising customers car loans without interest and overpayments. But in reality, the buyer does not always pay attention to the final cost of such a car and whether the interest is really zero. The information and recommendations below will allow you to develop the right strategy for buying a car with minimal additional payments.

Is it possible to get a car loan without interest?

In the automobile market, you can take out a car loan at 0% in the following ways:

1. Through a car dealer cooperating with a specific bank for specific brands of cars.
2. Through credit institution, implementing especially profitable options with the support of a network of dealers.

Before you start looking for a loan without interest, the future motorist should decide on the make and model of the car, and also study the current offers from sellers. The further strategy of behavior will depend on the option found and the design conditions. However, regardless of where you apply for a car loan, the operation of an interest-free car loan will be similar.

Most programs are implemented at the initiative of sellers, however, without financial security banks cannot fulfill them. In fact, interest-free car loans are an installment plan, because the very concept of “credit” implies the presence of an additional overpayment.

However, purchasing with installment payments can ultimately mean even greater bondage than a regular car loan. Despite the stated absence of interest overpayment, a car loan at 0% does not apply to gratuitous financing and is implemented according to a factoring scheme and accompanying registration of financial transactions:

1. Selection of car.
2. Buying a car from a bank at a lower price.
3. Signing an installment plan agreement between the salon and the borrower.

The essence of this proposal comes down to the acquisition an individual cars at a price that is higher than what the bank bought. Credit line The loan will be provided to the borrower at the dealership, but the installment payment will go to the financial institution. As a result, the borrower takes the car at the price stated by the dealership with the option full payment over a certain period of time, the dealer increases sales by getting rid of previous models, and the bank receives a small but fixed profit. But in some cases, free use borrowed money becomes possible thanks to compensation from the manufacturer in the form of a discount.

With the support of Cetelem Bank, it was organized to receive cars with zero overpayment under the FordCredit program. According to the Ford Credit Light subprogram with state support, a motorist can purchase a Ford car at 0%, subject to an installment plan of no more than 1 year.

In the agreement concluded with Cetelem, the loan rate will be 7.7-8.2%, however, the overpayment of interest is repaid at the expense of the discount provided by the manufacturer. For the buyer, this purchase scheme actually means zero overpayment and installments for a period of 1 year. For longer installments (3 years) applies low rate in the amount of 4.9% of the amount of debt to the bank.

Hyundai cars can also be purchased without interest overpayment, provided that a down payment of at least half the price of the car is made.

With the support of car dealers, it is possible to register an old car using the trade-in system with the possibility of full repayment of the remaining amount within 1 year. As in the case of the Ford Credit program, the zero rate for the borrower is ensured by a discount from the manufacturer. This offer is being implemented within the framework of the Lokomotiv State Program car loan program from UniCredit at 9.5% per annum.

Features of interest-free car loans

The use of a lending scheme without interest requires the mandatory participation of three parties operating under a factoring scheme:

1. The creditor bank acting as a factor.
2. Car dealership-seller, in the role of creditor.
3. Motorist borrower.

Despite all the attractiveness of prices and conditions, it is necessary to keep in mind that such a scheme has its own characteristics:

• the right to claim the debt is assigned to the financial institution in accordance with the agreement between the seller and the bank;
• the first installment is paid to the seller;
• the financial institution repurchases the loan, but with a difference in the amount in its favor;
• the motorist contributes funds to repay the debt to the bank on the basis of a valid agreement on the assignment of rights.

All emerging difficulties are hidden from prying eyes, and the buyer faces only one task - to deposit funds on time according to the installment plan at the price stated by the car dealer.

When deciding to buy a car on an interest-free loan, you need to be prepared for the following conditions:

1. High share own funds- at least 30%. Most programs require you to contribute at least half of the cost of the vehicle.
2. The reduced repayment period rarely exceeds 24 months. The standard no-interest offer requires full repayment of the debt within 12 months, which only high-income borrowers can afford.
3. Possibility of confirming high official income: More than twice the monthly installment payment.

Pitfalls and dangers

Navigating payments on an interest-free loan is quite simple - you need to regularly pay a sufficient amount to cover the debt for the car. However, these payments will necessarily take into account additional expense items:

• opening an account with a financial institution to receive funds from the borrower;
• servicing a credit account by a financial institution;
• issue fee plastic card(in some programs).

In addition to this, the borrower will receive mandatory CASCO registration and a strong recommendation for registration personal insurance. A fee is also possible if the funds are paid in full ahead of schedule, and if the next payment is late, fines will be charged.

Therefore, when contacting a car dealership or banking institution with a request for a car loan with zero rate, it is necessary to study in detail all the requirements and possible costs. Only by comparing the total amounts for a regular car loan and interest-free loan Taking into account the additional associated costs, conclusions can be drawn about the actual benefit.

Advantages

When assessing the pros and cons of a 0% loan, it is worth mentioning the advantages of the program from the borrower’s point of view:

1. Installment plans often involve the possibility of less frequent payments – not every month.
2. Using a loan allows you to participate in promotions, the purpose of which is to sell new models that have been proven in practice, which should soon be replaced by new products. The promotional price may be 1/5 lower than the standard price for the model.
3. The costs of CASCO insurance are lower than with a classic loan, since the payment period is short-term, which means that the need for additional costs will soon disappear.

As a result of use interest-free car loan the borrower can significantly reduce the final cost of the vehicle, but optimal use of the program is possible only after careful analysis financial situation And high probability that the loan will be repaid within 1-2 years.