The naivety of compatriots in the easy availability of a car loan, as well as any method of receiving money “for free and in an hour,” is sometimes amazing. The mass of banks and credit organizations gives out loans only after signing the contract. In general, getting a money loan to fulfill any desire looks like this: we give you money, and you give us our money, our money, we give you a percentage for using the money and also give us money for giving us your money. It’s a little strange, but on the whole the whole scheme of paying off a car loan looks like this. Car loan is one of the types of money loan specially issued by a credit institution for the purchase of a vehicle for personal use. That is, buying a motorcycle, car or other equipment is already a car loan. A feature of this type of loan is that the passport for the vehicle remains with the borrower. Title must be transferred to the bank within the time specified in the contract, and if this does not happen, then fines are imposed. Responsibility for the first paragraph cannot be ignored - it is unreasonable to start a credit history from the negative side and distrust of the bank. If the transaction takes place at a car dealership, where there are representatives of the bank that issued the car loan, then there are no problems with the transfer of documents. to take or impossible. This is just a marketing ploy.
The bank representative office in a car dealership assumes the following functions - preliminary approval of the application, scoring - assessment of the borrower's creditworthiness, signing a cash loan agreement, preparing documents and transferring them to the bank.
Scoring is the most important moment when the bank considers the borrower and determines in points how much it can pay depending on income. The veracity of the completed documents can be verified by a specialist, but their confirmation is required.
If the bank’s representatives are in the same room as the car dealership, then the car purchase and sale agreement is signed on the spot by the credit expert. Often customers of car dealerships get lost and consider that it is necessary to sign one contract. In fact, there are two contracts - one contract with a car dealership and the payment of an initial installment, and a contract for the issuance of a certain loan amount is signed with the bank. Often the bank can change the amount of the loan intended to buy a car in the direction of both lowering and increasing. Deciding on the purchase of a car and its configuration is best already in the showroom. They may also offer to install additional equipment - parking sensors, navigator, air conditioning. Often this can be included in the car loan account. All questions regarding car loan registration can be clarified in the credit department of the car dealership or directly at the bank.
Tanya Steinberg, Analyst