State car loan program for the purchase of domestic cars

In order to maintain the demand for the purchase of domestic cars, in 2009 the legislative body developed a state car loan program. In 2012, more than three billion rubles were allocated for the implementation of this project. This state program had a positive impact on the restoration of purchasing activity in the Russian car market, but at the same time, all banks and those wishing to purchase a car under this program must meet the established criteria.

Terms of the state subsidy program

The state car loan support program provides for the mandatory fulfillment of a number of such conditions:

1. The subsidy applies only to domestic cars.
2. The bank should take part in the state program.
3. The maximum amount that the owner can count on is 600 thousand rubles.
4. Upon receipt of a soft loan, a contribution of 15% is required.
5. The loan term is 36 months.
6. The interest rate on the loan is 6%.

Bank Requirements

The state car loan program provides credit institutions with the opportunity to issue subsidies only if 50% of the bank's authorized capital was owned by the Central Bank or the Russian Federation. This requirement must be met with respect to subsidiaries of a credit institution. In addition, the bank should have a wide network of branches covering all districts of the Russian Federation.

If the bank meets all of the above conditions, then every month it receives the required funds from the budget in the amount of 2/3 of the Central Bank refinancing rate. Due to these revenues, a general reduction in the rate to 8% is achieved. Due to this fact, the state car loan program provoked great demand for cars of domestic brands. Another advantage of the state program is the optional CASCO insurance.

For whom is the state car loan program 2013-2014 designed?

In order to get a soft loan, for example, at Sberbank of Russia, and also at other commercial banks, you must meet the following requirements:

1. Age from 21 years to 65 years.
2. The presence of a passport of a Russian citizen with registration (permanent or temporary) in the region in which the purchase is planned.
3. The work experience of the borrower must be at least a year.
4. Availability of income statement for the last three months.
5. The employment record must contain a record of the employment contract and must be certified by the employer.
6. The borrower's income per month should be at least ten thousand rubles.
7. After paying off the monthly payment, at least 8 thousand rubles should remain for each family member.

A state car loan program cannot be granted if there is a dubious credit history. If you have a desire to use the subsidy, then you need to know that the list certified by the ministry contains cars of foreign and domestic production assembled in Russia. This list contains exactly 50 models. Under this program, it is impossible to purchase a vehicle assembled in the territory of the countries of the former USSR.