Car loan or consumer loan: which is more profitable? Which loan to choose: reviews

According to statistics, the average cost of a car in Russia reaches 800,000 rubles. It is worth emphasizing that this figure may vary depending on the region, for example, in Primorye this amount can reach a figure of one and a half million rubles. At first glance it is clear that such money cannot be earned by a simple average person even in a year. As always, credit organizations come to the rescue . Often, the population asks the question: "Car loan or consumer loan, which is more profitable?". In order to emphasize in favor of a particular type of lending, it is necessary to identify the positive and negative sides of a car loan and a non-targeted loan.

Car loans: pros and cons

1. The possibility of obtaining a loan at a car dealership. Having available a small amount of money for a down payment on a loan, you can apply without leaving the car dealership.
2. A wide program of car loans. Almost all banks provide loan services for the purchase of the "iron horse". Due to the fact that when a loan is issued, the bank will automatically secure itself with a collateral, the decision to approve a loan is observed much more often than decisions on a consumer loan.
3. Low interest rate. Unlike consumer loans, where the average interest on the loan is 20%, car loans in this regard are at the level of the interest rate on the mortgage - 11-12% per annum. The statement of General Motors at the beginning of this year regarding the withdrawal of the American manufacturer from the Russian automobile industry, due to falling population demand for manufactured products, made it possible for developers of other cars to offer profitable offers for consumers: an unprecedented low interest on the loan - 5-6% or their absence at all. Although the economic situation in the country for the given period wishes for the best, this time is perfectly suited for a profitable car purchase. Of course, with the question: “Car loan or consumer loan - which is better?”, No doubt, a loan aimed at buying a car wins in this regard.
   
4. Inability to sell the car to third parties. With a car loan, banks always pledge your purchased car, and the TCP remains in the bank until the loan is repaid. If you do not pay the loan, the credit institution takes the car into its ownership. But here you can go for some trick if you do not have the necessary financial resources to make a monthly payment and you are left “with bare pockets”. To do this, you need to go to the traffic police, write a statement about the loss of TCP and after a while you will receive it. Now you can sell the car and pay the loan. But all these actions are illegal!
5. Compulsory CASCO insurance. When applying for a car loan, all banks without fail impose CASCO insurance services on customers, whether you want it or not. It rather does in favor of banks in order to protect themselves.

Consumer Credit: Pros and Cons

1. Use of funds at your discretion. Thanks to a non-target loan, it becomes possible to buy a used car with a lower cost, unlike a car loan, where funds are issued only for the purchase of new cars, with rare exceptions.
   
2. Complete disposal of your car. Of course, this is a definite plus in the design of this type of loan. You can sell, change, pledge your "friend" without crossing the line of law.
3. The possibility of refusal to obtain a loan. Not all banks are ready to give you their money if there is no security or guarantee. In this regard, a car loan or a consumer loan - which is more profitable? Of course, the targeted purchase of a car from the bank.
4. Significant interest rates. In practice, consumer loan rates are always higher than car loans.

Car loan or consumer loan: reviews

According to reviews, the majority of the Russian population prefers to use a car loan, focusing on the fact that this type of lending is easier to obtain, without unnecessary "hassle", and puts up with the fact that TCP remains in the mortgage of the bank.

But there are those who are categorically against, guided by the fact that when buying a car with a consumer loan, people have the opportunity to use it at their discretion: sell, change, give, and so on.

Car loan or consumer loan - which is better? 2014 as an indicator of financial instability

The imposition of sanctions, the fall in oil prices, caused the instability of the ruble. In this regard, most banks throughout Russia have tightened the conditions for acquiring a consumer loan, making it almost impossible to obtain a population with little income. This practically did not affect the car loan, with the exception of a slight increase in annual interest rates, but the conditions remained the same.

So after all, a car loan or a consumer loan - which is more profitable? In 2014, a car loan is a priority, with its ease of obtaining and low interest rates.

Sberbank "turns off" car loans

Sberbank is the largest representative of state-owned banks. Almost every family is served in this bank. He does not pass by and car loans. But due to the current circumstances in the country, Sberbank refused car loans from the end of 2014 and transferred these functions to a subsidiary of Setelem Bank. Therefore, the question of what is better to take - a car loan or a consumer loan at Sberbank, remains irrelevant. If you are regular customers of this bank, you can only rely on consumer loans.

Reviews on the former car loan system of Sberbank

Often forums discussed the question of which is better car loans or consumer loans at Sberbank? The reviews showed that the majority of the population preferred to take a loan to buy a car in this bank, thanks to attractive interest rates, compared with other financial institutions.

But part of the population is still waiting for the restoration of the car loan system from this bank.

What is still better: a car loan or a consumer loan?

Answering the question: Car loan or consumer loan - which is more profitable? ", It would be more appropriate to give car loans priority. Because, firstly, loan rates are always noticeably lower, and secondly, third parties are almost never required to get a loan and third, most banks offer bonus, special programs for car loans, and at the time of a crisis it is sometimes possible to take a car on credit without any overpayment. a little, it’s better to use a consumer loan, which will allow you to save on CASCO.