It is taken and given credit for car

You need a car right now, and save it, you can not before a few month? You can try to resolve this issue with auto loan! This banking service is now receiving increasing development. According to car dealers now up to 25-30% of cars bought on credit.

You need a car right now, and save it, you can not before a few month? You can try to resolve this issue with auto loan! This banking service is now receiving increasing development. According to car dealers now up to 25-30% of cars bought on credit.

Apply for a loan can be either directly to the bank offering such a service, and in the auto show. Last easier. When making a loan through the lounge you can save time, since the application for credit and the necessary documents are submitted directly to the cabin. Often collaborating with one compartment, several banks, which offer various loan programs.

Banks themselves impose certain requirements on borrowers. In considering loan applications will ask your passport, driver's license and workbook. Loans are issued to citizens aged 18-23 to 60 years. Experience in the last place of work must be at least 3-12 months. Of course, an important role in deciding whether to grant a loan will take the income of your family. It must be such that the monthly payment on the loan amounted to no more than 40% of the total family income. Official confirmation of income does not require all banks. Moreover, if you can not provide information on income, the bank may require circumstantial evidence of your ability to pay, for example, certificates of ownership of any large property. In the absence of information on income credit will be given a higher percentage - by 1-3 percentage points more.
Application for the credit banks consider within 1-3 days. But sometimes this period may be delayed and up to 7-8 working days.

Loan period is from 6 months to 5 years. Interest rates on loans - 0.5-15% per annum in dollars. Most of all they depend on the term loan. Lending to purchase a used car would cost by 1-5 percentage points expensive. But to buy a used car "with the hands you a loan no bank will give - only through the auto show.

Car loans from banks can be in dollars or euros. Loans, like cars and machinery produced domestically. In this case, banks require that a portion of a borrower to pay the cost of the machine itself. Down payment may be 10-50%.

In addition to the borrower's waiting for additional costs. This commission of the bank for loans ($ 100-200), as well as monthly commission of the the loan account (0,2-2% of the loan amount).

The collateral for the loan is purchased vehicle, which becomes the property of the borrower, but shall be given in pledge to the bank until the full payment of the loan.

Program auto loans are constructed so that the borrower put out a loan and the interest in equal monthly installments. When signing the contract he gets on his hands full schedule of payments, where separately listed on the monthly payment amount for principal and interest. Borrower offer loan account, which he will make money. Some banks issue customers tied to the loan account card, which can be recharged at any convenient place, for example, through the ATM. In the scheduled day, the bank automatically debits the amount from its next payment. This saves customers from the queues, which often accumulate in the banks.

Alternatively, the transfer of contributions - through post offices. But it will have to pay an additional commission of the,5% of the amount of payment.

If specified in the schedule of payments per day funds in the account does not prove, the bank thinks it is delayed and will begin to charge penalty interest. The average fine is 0,5-5% of the amount of overdue payment per day. But some banks charge a fixed penalty, as a rule, it is measured in several hundreds of dollars. Fines imposed and for early repayment. After all, in this case the bank loses the interest which he could receive at extinction for the full term of the loan.

Many banks have set a time period during which prohibits fully repay the loan, and during this period will only accept the established schedule amount. Usually, its length is from 2 to 12 months. Often, banks are ahead of taking funds borrowed from them, but penalize borrowers. The average fine is 0,5-2% of the outstanding debt on the loan.

Since bought on credit machine remains in the mortgage from the bank, he needs to insure it against theft and damage. In this case the customer can choose the policy is not any insurance company, but only the specified bank. Most of the car is insured for the full value in favor of the bank. Price policy is normally 7-10% of the cost of the machine.

The entire procedure usually takes credit for two or three weeks. If we use the scheme of express crediting period can be shortened to two to three days. Bank is considering an application for the grant of express-credit as soon as possible: from half to two hours. On the same day the customer is a credit agreement.

Another "beauty" of this credit is a minimum set of documents that require the bank. It is limited to a passport and still one of the documents such as driver's license, passports, proof of registration with the tax authorities (TIN), pension insurance certificate. The bank does not even require the borrower inquiries about income.

Save time turns out to borrowers excess money spending. After all, express loans are typically more expensive than usual to 1.8 percentage points. Loan increased rate (by 1-5 percentage points more) issue and those who do not want or can not immediately pay a specified portion of the cost of the car.