Car loan Alfa-Bank: conditions and features, interest rate and customer reviews

Alfa-Bank is the largest commercial bank in our country. It was created twenty-seven years ago in Moscow. The main owners of the credit institution are Mikhail Fridman, Alexey Kuzmichev, German Khan and Peter Aven. The latter is also the president of the bank. Currently, Alfa-Bank is a universal credit institution that provides a full range of banking services. It serves more than fifty-five thousand corporate clients and over four million individuals. The credit institution accounts for more than one percent of all deposits of citizens of our country. The Bank has a huge branch network covering most regions of the country. Today, three hundred and forty of its offices are open in our country and abroad.

Alfa-Bank holds top positions in the country's banking sector, which is confirmed by its ratings. In 2009, the financial magazine Euromoney named Alfa-Bank the best bank in our country. The Bank is a Russian credit institution providing capital management services to private and corporate clients. In the ranking of banks in the capital, this bank is in sixth place.

Alfa-Bank provides a wide range of services to individuals, which includes deposits, loans (mortgages, car loans, consumer loans), currency exchange, money transfers and much more. A commercial bank is actively involved in charity work.

What is a car loan?

According to statistics, today every fourth citizen of our country has a car. Seventy-five percent of the population has not yet acquired their own mobile means, which means that the relevance of banking products that facilitate the purchase of cars does not lose its strength. You can buy a car using a car loan. Car loan - this is the money that a client takes from a credit institution in order to purchase a car. A feature of the loan is the registration of a pledge in the form of a car.

The key characteristics of a loan secured by a car is its value, expressed as a percentage, and the repayment period. When contacting the bank, the client needs to carefully study the fees for the services of the credit institution, the fines in case of late payments. A car purchased with a loan can be used, but it cannot be sold, rented, exchanged or donated. The bank stores the title deed of the vehicle.

Car loan today is very easy to arrange. This can be done at the car dealership where the car is purchased by contacting employees representing the interests of commercial banks, or at a lending institution. The disadvantage of obtaining a loan at the bank is the limited offers. A car dealership, as a rule, works with only a few commercial banks, and the cost of a loan with them may be higher than with banks not represented in car dealerships. It is much more profitable to issue a car loan by comparing all the offers presented on the automotive market. After all, a person makes such a large purchase as a car once every three or four years.

Borrower Requirements

According to reviews of car loans, Alfa-Bank has the following requirements for borrowers:

1. The borrower must be a citizen of our country over the age of twenty-one years.
2. The borrower’s continuous work experience must exceed three months.
3. The client must have a mobile phone and a stationary work phone.
4. The borrower must have a permanent registration in the region where there is an Alfa-Bank branch.

Salary card holders

Alfa-Bank car loan terms for payroll project participants:

1. A loan is provided for the purchase of a new or used car.
2. The loan amount should not exceed 5.6 million rubles.
3. The minimum loan rate is 11.49 percent.
4. The loan term should not exceed six years.
5. The interest rate on a car loan at Alfa Bank does not depend on the availability of insurance.

Standard loan terms

General conditions for the provision of a car loan by Alfa-Bank:

1. A loan is provided for the purchase of a new or used car.
2. The loan amount should not exceed three million rubles.
3. The minimum loan rate is 14.99 percent.
4. Loan term should not exceed five years.
5. The interest rate on a car loan Alfa-Bank does not depend on the availability of insurance.

Employees of partner companies

Alfa-Bank car loan terms and conditions for employees of partner companies of a credit institution:

1. A loan is provided for the purchase of a new or used car.
2. The loan amount should not exceed 5.6 million rubles.
3. The minimum loan rate is 13.49 percent.
4. Loan term should not exceed six years.
5. The interest rate on a car loan Alfa-Bank does not depend on the availability of insurance.

To find out which is more profitable (car loan or consumer loan), you need to compare the conditions. Both programs of lending are popular at Alfa-Bank due to favorable rates, a transparent interest calculation scheme and convenient ways of managing a credit account. In the reviews, it is especially noted that the client can even get a car loan for a used car at Alfa Bank.

Consumer loan or car loan

Cash can be borrowed from Alfa Bank in the amount of three million rubles for a maximum period of five years. Loan rates start at 11.99 percent per annum.

A special loan secured by a car is issued for the purchase of a vehicle and is issued for a long term, up to six years. The maximum loan amount is 5.6 million rubles. Loan rates start at 12.49 percent per annum. To apply for a loan, you must make an initial contribution of at least ten percent of the amount of the future loan, which is paid at the time of buying the car. According to reviews of a car loan at Alfa Bank, it differs from a consumer loan in the need for transport insurance.

It is often difficult for a person to make the right decision. Which loan is more profitable to issue: a consumer loan or a car loan in Alfa-Bank? You can calculate the cost of acquiring a car using the calculator on the bank’s official website. For calculation, you need to specify the loan amount, term. After that, a person will be able to find out the size of the rate and the size of annuity payments. The calculator is very convenient, according to people issuing a car loan at Alfa Bank. It allows the borrower to decide which loan is best to arrange for the purchase of a car.

Ways to get loans

There are several ways to apply for a car loan at Alfa Bank:

1. Filing an application at a bank branch.
2. Registration via the Internet. To learn how to get a car loan at Alfa Bank and the loan conditions, please fill out the form on the bank’s official website. It must specify the data of the internal passport, place of work, contacts (phone, mail).
3. Applying by phone.

Applications are considered for a maximum of two days thanks to the operational scoring mechanism at Alfa Bank.

Credit repayment methods

There are several ways to repay a car loan at Alfa Bank. The client has the right to choose the most convenient channel for repaying a loan for a car:

1. Payment terminals.
2. Payment points at partners of the bank.
3. Internet banking.
4. Mobile banking.
5. By transferring between cards.
6. At the bank branch.
7. By calling the call center.
8. Auto payment (regular payment from the card once a month).
9. ATMs, including with the function of receiving cash.

Prepayment

Alfa-Auto Bank Card issued by a credit institution after a loan is issued allows you to repay a loan ahead of schedule in any amount. The amount of early cancellation must be at least twenty eight thousand rubles or one thousand dollars. If the client has an amount equal to the remaining debt to the bank on the loan, then he can close the debt completely. Penalty for early repayment of a loan is not charged.

The client simply replenishes his account, and repayment is made automatically at the time of writing off the annuity payment. To make an early repayment, it is necessary to fill out a notification form for this process. The notice must be sent to the credit institution no later than three business days before the date of the next charge-off.

If the client made an early repayment of the loan, then the information service of the credit institution will be informed of the amount of the adjusted loan payment and provide an updated schedule of future interest payments.

Using the tool for early repayment of a car loan at Alfa Bank, the client adjusts and controls his payments, saving on interest on the loan.

Forfeit for delay

If the borrower, for good reason, was unable to make an annuity payment in a timely manner or made an amount smaller than stipulated by the loan agreement, then he must pay a penalty for delaying the repayment of the loan in the amount of one percent per day on the outstanding balance. The amount of the missing payment must be paid off any next day. The penalty will be charged on the amount of the loan outstanding balance (calculated based on the number of days of delayed payment).

Car loan refinancing

Alfa-Bank has very favorable conditions for refinancing any loan:

1. The loan rate is from 11.99 percent per annum.
2. Loan amount up to one and a half million rubles.
3. The maximum loan term is five years.
4. You can refinance up to five loans at once, including credit cards.
5. The ability to receive cash when applying for a new loan in excess of the total debt of the client for refinanced loans.

In addition, the loan rate does not depend on registration or refusal of insurance.