A new car is the ultimate dream of most motorists, but the cost of such a vehicle is becoming a key problem on the way to realizing desires.
As a rule, at such moments the only way out is lending. The most profitable option for those who want to buy a car are special banking products - car loans. The first question that arises for the future owner of the vehicle is which bank to contact. In this article, we consider the conditions of a car loan at Sberbank. This financial institution is most in demand among borrowers.
Where to get a car loan?
Why is Sberbank addressing the vast majority of borrowers? First of all, because it is an old time-tested bank that has been operating for several decades. In addition, more than fifty percent of Sberbank shares are controlled by the Central Bank of Russia, which cannot but inspire confidence in potential customers.
Car loan concept
The purchase of a vehicle on credit involves the issuance of borrowed funds for specific purposes. In this case, to buy a car. In this case, the guarantee of repayment of the issued loan is the pledge of the vehicle.
Thus, the full owner of the car, the borrower becomes only after full settlement with the financial institution for the amount of the principal debt and interest stipulated by the contract.
A car loan in Sberbank can be issued not only for the purchase of a new vehicle, but also for a used car.
Loans to Sberbank
Currently, Sberbank's customer service includes an extensive range of loan services with convenient credit conditions. In many ways, this financial institution is in great demand.
As for special programs on car loans, Sberbank terminated such programs in connection with the crisis situation in the country since the end of 2014. Therefore, citizens who wish to purchase a new or used vehicle can use the means of a consumer loan.
Consumer loan for the purchase of a car
To receive funds for the purchase of a vehicle, you can use one of the following products:
- Unsecured consumer credit, provided for any needs of the borrower. The maximum loan amount for a loan is 3 million rubles for a period of three to sixty months at a rate of 12.9 to 19.9 percent.
- Consumer loan for any needs of the borrower with the involvement of guarantors. The maximum loan amount is 5 million rubles for a period of up to five years inclusive at a rate of 12.9 percent.
An important condition for the provision of such a loan is as follows: only a citizen of the Russian Federation aged 21 to 75 years can act as a guarantor. Moreover, the upper age barrier should not come before the payment of the last installment on the loan. The surety must have a steady income and a good credit history.
Loan interest rates
When using consumer credit funds to purchase a new car, the interest rate will depend on whether the borrower is a client of Sberbank, namely: does he have a salary account with a credit institution.
Accordingly, loans are provided to Sberbank's salary clients on more favorable terms:
- for customers receiving a pension or salary in an account opened with Sberbank, the loan rate varies from 12.9 to 19.9 percent;
- for other citizens, the interest rate set by the bank will be in the range from 13.9 to 19.9 percent.
Judging by the feedback of borrowers, preferential lending conditions plus a maximum loan amount of five million rubles allow you to purchase any model of passenger car both domestic and foreign manufacturers at a rate of 12.9 to 19.9 percent per annum.
In comparison with other credit organizations offering car loans, a consumer loan in Sberbank with such rates can be considered as the most advantageous offer.
Other loan conditions
Since there is no special area of banking products among banking products, it is possible to purchase a car with mileage on consumer loan funds provided by the bank without an initial payment when providing a minimum set of required documents. Moreover, the list of documents does not include rights to drive a vehicle.
The list of documents required for obtaining a loan for the purchase of a car with a guarantor includes the following documents:
- application form sent online or written in writing at a branch of a credit organization;
- Identity document of the borrower and guarantor;
- a certificate from the place of employment of the borrower and guarantor, a copy of the work book, as well as a document confirming their income (certificate 2-NDFL).
To obtain a loan without collateral for any purpose, the following documents will be required:
- application form, as in the previous case, written or sent online;
- loan application;
- a document proving the identity of the borrower, and the passport must contain information about the registration of a citizen in the territory of the Russian Federation;
- a certified copy of the work book;
- certificate of income of the borrower.
Many borrowers note the important advantage of this financial institution - today, Sberbank allows for a consumer loan with a temporary registration.
Can I use the car loan service at Sberbank today?
Similar lending services previously provided by Sberbank of Russia PJSC are currently transferred to special programs by Cetelem Bank, which is its subsidiary.
Car loans through a subsidiary of Sberbank are represented by various programs, the difference of which is the essential terms of the agreement: interest rate on the loan, the presence or absence of collateral under the loan agreement, guarantee. After studying the basic conditions for providing funds at interest, the borrower is given the opportunity to choose the most profitable and convenient option.
Special car loan programs at Cetelem Bank are presented by such car loan tariff plans as Partnership, Ford Credit, Standard, Special. "Reliable" and other offers.
Depending on the conditions of the loan and the model of the vehicle, the interest rates for car loans in 2018 from Sberbank range from 12.6 to 17.5 percent.
Special programs available for citizens wishing to purchase a vehicle can be found on the website of Setelem Bank.
General information on these types of loans contains the following points that may interest motorists:
- The loan amount provided is up to five million rubles.
- The minimum rate on a car loan is from 13 percent.
- The initial installment of a car loan in Sberbank is from 15 percent.
- Possibility of paying off debt up to five years.
Order of registration
To obtain a loan under one of the selected car loan programs at Sberbank for individuals, the borrower must perform the following actions:
- Fill out the application form and prepare documents according to the list established by the bank.
- To apply with documents to a branch of Sberbank or a car salon cooperating with a credit institution.
- Get approval for a loan application.
- Select and arrange a vehicle at the dealership (at the dealer, manufacturer or its official representative).
- To issue an insurance policy with any company that provides auto insurance services against possible risks, including theft, damage and other types of vehicle loss. (The list of insurance companies is available on the credit institution's website).
- Sign a pledge agreement with the bank.
After the actions taken by the borrower, the bank will transfer the loan funds directly to the seller’s account, and, if necessary, to the insurance company. The client picks up his car and fulfills the terms of the contract regarding the reimbursement of the funds provided. After paying the last installment, the borrower will only have to remove the encumbrance from the vehicle and place it in full possession.
Basic conditions for providing loans for the purchase of vehicles
The general conditions for car loans at Sberbank of Russia are as follows:
- The loan is provided in Russian currency.
- The amount of credit funds varies in the range from forty-five thousand to five million rubles.
- Loans are provided for a period of three months to five years without commission fees for issuing a loan. If the borrower has temporary registration, a loan is granted for a period not exceeding the validity of the registration, except for citizens who are payroll clients or receive pension payments to an account opened with Sberbank.
- Mandatory execution of a pledge agreement.
- The insurance policy must include the following prerequisites:
- the presence in the policy of such risks as “damage” and “theft”;
- in terms of “damage” risk, the borrower / insurer should act as a beneficiary under an insurance contract; in “damage” and “theft” risks, provided that the vehicle is completely destroyed - in the amount of the debt under the loan agreement.
The interest rate of a car loan in Sberbank is determined depending on the period of validity of the drawn up agreement. Before signing it, you should check with the manager the exact number. So, the percentage of car loans in Sberbank on a loan issued:
- for a period of up to one year inclusive, provides for a rate of 14.5%;
- for a period of one year to three years - 15.5%;
- from three to five years inclusive, the rate will be 16%.
For regular customers, preferential terms apply. In this case, the car loan rate in Sberbank is reduced by 1 percent.
Borrower Requirements
The basic requirements for potential borrowers for car loans are not much different from the requirements for issuing consumer loans, and includes such conditions:
- Citizenship of Russia.
- Age from 21 to 75 years (at the time of payment of the last installment) and up to 65 years if the borrower can not confirm the income.
- Work experience of at least six months at the current place of work (for salary clients and pensioners receiving payments to the bank account - at least three months) and at least one year of seniority for the last five years, except for pensioners clients of Sberbank.
- No co-borrowers required.
The list of documents required by a financial institution on car loans is somewhat wider and in addition to the standard set includes: a copy of the title deed, a document confirming payment of the purchase, an agreement with the seller. If a car loan in Sberbank is issued without proof of income, from the borrower, in addition to a passport, an additional driver’s license or any other identification document will be required.
Conclusion
Despite the fact that Sberbank now issues car loans through subsidiaries, the conditions and requirements for car loans are fully consistent with the main policy aimed at creating the most favorable loan conditions.