How to arrange an auto loan in a car showroom: the choice of optimal conditions and procedure of actions
Is it profitable to take car loans in dealer salon? Nowadays both credit institutions and self-salon car dealers offer different loan conditions.
But without pitfalls, of course, they do not do either of them. What should be more careful when buying a vehicle on credit?
The most important thing
The first thing that should be determined by the buyer who wants to take the car on credit, so it is with a “loved” with him. He needs to think clearly about whether he is ready to meet his credit obligations and pay a car loan for several years. If he is not ready for this, then the purchase of a car on a loan is not only unreasonable, but also wrong. Sellers, of course, will do their best to impose a car, praising the conditions for car loans. Listen to them or not, of course, everyone must decide for himself, but it’s important to remember that this is their job and, consequently, they make a profit from successful sales.
It is not necessary to “peck” on stock discounts, as many banks on special conditions work with car dealers. Dealers want to sell their goods, use discounts and lower interest rates. Often the contract reflects the impossibility of returning the goods. It will subsequently not allow the car owner, if the car breaks, return it to the salon.
car loan at the car dealership
Buy a car on the spot
This is perhaps the best opportunity to buy a car, because many banks hold their lenders in specific car dealerships.
Any lending institution offers the client a choice of lending program:
– without reference to the s / n;
– Express Loan;
– without a down payment;
– without registration of AvtoKASKO.
It is important to know: the less the documents will be from the client, the higher will be the interest on the loan.
So, before you can conclude a loan agreement, you need to know more about each of the proposed types of lending.
Select a program
In order to choose the right program of lending to the client, you should first determine with the most acceptable monthly payment amount for him.
To do this, he must “tally” the existing income, then “spread” the amount received to each member of the family and deduct the urgent expenses.
If free money remains at least 40 percent, then the loan will be approved.
Important: In case of express loans, the application is reviewed within half an hour. But because in this type of lending, the credit institution tries to minimize its losses, then the interest rate on it, accordingly, will be very high.
An application for a loan should be filed simultaneously in several banks, which will inspire confidence that the loan will be approved at least in one. When obtaining approval from several lenders, it is necessary to compare their proposals for the first installment, the interest rate and the maturity of the loan.
How is car loan issued?
The manager who has come to the auto show to the buyer offers to arrange an auto loan.
After the customer is identified with the make and model of the car, he is invited to go to the information room to familiarize himself with all available loan offers.
Further, the process of registration comes into effect:
– the client chooses the most optimal program in his opinion;
– Provides the required securities;
– Fills in the questionnaire;
– puts a signature under the agreement on verification of the CI;
– waiting for a decision;
– in the case of approval, a loan and a car purchase / sale deal.
And what documents should be provided?
Each bank requires an automobile loan to provide its own package of documents, which usually holds in itself:
– driver’s license;
– certificate 2-NDFL;
– a workbook (copy).
But if necessary, the bank can expand the list.
What should each client remember?
First of all, you should find out who the lender is. Usually this is a bank that is a partner of the car dealership. So, if a loan is issued by a bank, then all further information will be sent to the Bureau of KI. But if the car dealer credits itself, then the information will not be available next to the company’s doors.
Banks, drawing up a loan in the salon credit history customer are not interested. This allows a person, even with a damaged credit reputation, to get an auto loan. This is due to the fact that for the submitted request, the BKI will have to pay, and the creditors, considering the car as a pledge, do not want to spend on it.
When you get acquainted with the text of the contract you do not have to rush and everything should be read carefully. All definitions for the client should be clear, and the interest rate should be indicated on the first page.
The contents of the document should not have a dual meaning. If something is incomprehensible, then it’s not necessary to sign anything until it’s clear.
Pay attention to what is provided by the loan, and how the process of registration takes place. A car, as a rule, is a guarantee of loan repayment. The most reliable way is when the owner of the auto is a buyer, but he pays a deposit to the bank. But sometimes it happens, the creditor insures the owner of the car in power of attorney.