The intricacies car loans
If you know some of the nuances of obtaining and providing loans, you can choose the best way to buy a car. Credit can be issued directly in a motor show or in Bank. First, you need to ask about the conditions of receiving the target credit on purchasing a car in several banks and find out which of them you can get the money under the lowest interest. Banks for credit will be required to provide more documents and wait a little longer the decision is positive, than in the cabin, but in some cases, this can result in savings of 2-3%.
In the cabin the decision on granting of credit with a minimum set of documents you can get during the day. As a rule, in every cabin there are representative offices of several banks, so you will also have the opportunity to choose among these credit institutions. At registration you should carefully read the contract and see whether it included any disposable banking Commission or predatory insurance amount. By the way, in addition to them when buying a new car the Bank will require you to enter into a contract of insurance CASCO, the repayment of which may be 5-7% of the car's value each year.
To avoid design hull, you can take the usual consumer credit for the maximum amount you can offer the Bank, and the funds that you will lack to purchase a car, get a car loan.
What car to buy on credit
Even if you want to borrow a used car hoping to save on this purchase, is not the fact that it will be really beneficial. First, the interest on this loan will be higher because the probability of profitable resale in case of your nekreditosposobnym very low in contrast to the resale of a new car. Second, insurance programs you will also have to pay higher interest rates. Therefore, in some cases better to get credit for a large sum and buy a new car.
Many banks are cooperating with the dealers in the partner program, which enables us to offer low rates to those wishing to obtain loans for those car brands that participate in such programs. Selection of well-known brands is quite large so you will have the opportunity, for example, paying an initial fee, to receive a loan for the remaining amount at an interest rate lower than 10%.