Car loan without down payment in Alfa Bank

No matter how popular loan programs for buying a car are now, for many Russians they still remain inaccessible due to the fact that they have to pay an initial fee, which is at least 10 percent of the cost.

10 percent of the cost of even the most budget car for 300-400 thousand is 40 thousand rubles, the amount seems not to be large, but it can be difficult to collect.

Accordingly, there is a great temptation to take advantage of loan offers, various express loans that allow you to purchase such a desired car without a down payment. Managers in car dealerships are well aware of the mood in society and the real financial situation of many Russians, and therefore, in cooperation with banks, they offer the opportunity to take a car on credit without having to pay a down payment.

Does Alfa-Bank have such programs? Let's try to figure it out.

Buying a car on credit from Alfa-Bank without a down payment

Yes, indeed, this bank offers us the opportunity to purchase a car without a down payment, such programs can be found in many car dealerships in Moscow. But what is this program?

And this is nothing more than an ordinary cash loan, and it is issued on rather strict conditions. There are several loan programs:

• "Fast" - up to 250 thousand;
• secured by real estate - up to 60 million;
• cash loan - up to 1 million (2 million to bank customers and corporate customers).

That is, roughly speaking, pecking at the offer to buy a car on credit without a down payment, you agree to not very loyal conditions.

If you lack approximately 10 to 250 thousand to buy a car, then you may be offered a cash loan or a Quick credit card. Loan "Fast" the interest rate is - from 37 to 67 percent per annum. The overpayment is huge, but there is a grace period of 60 days when interest is not charged. In addition, you do not have to present income certificates and look for guarantors.

If you want to mortgage your apartment or you have some other real estate, then you will be provided with easier conditions, moreover, such a loan is given for a period of 10 years with a minimum rate of 13,6%. That is, the rate can be higher and it is determined individually in each individual case. The advantage is that you can buy the most expensive car, if your apartment is really valued at several million. It is also necessary that all those who are registered in your apartment give their consent.

A cash loan from Alfa-Bank assumes the following conditions:

• from 50 thousand to two million for bank clients and corporate clients;
• up to one million for everyone else;
• a guarantee is not needed, income must be confirmed;
• commissions for registration and early repayment are not charged;
• term - up to five years.

Percentages, it must be said, are not small:

• 16,99-30,99 per annum for those who receive a salary on the card of this bank;
• 17,49-34,99 - corporate clients of the bank;
• 19,49-39,9 - all other categories.

Using simple mathematical calculations, you can calculate how much it will cost you to service such a loan. Interest rates are determined individually, depending on the completeness of the provided data about yourself, income level, and so on.

The bank tries to insure itself in every possible way and paradoxical situations arise: some manager of a prestigious company will receive a lower interest rate than a simple factory worker. This loan is not issued to individual entrepreneurs, as well as to those people who are registered in hostels. If you take out life insurance, then the rates on the loan will be reduced.

Requirements for the borrower are standard: you need to have a regular income of at least 10 thousand per month, permanent registration in the area where there are bank branches. Be sure to confirm your income for the last 6 months. Standard documents are also needed: a passport, a second document, a certificate of employment about income, and one of the documents to choose from: compulsory medical insurance policy, voluntary medical insurance, a copy of the work book, a passport with a stamp about a visa, a vehicle registration certificate.

Having issued a loan, you will receive the entire amount on a bank card. The positive factors are:

• no commissions are charged;
• CASCO is optional;
• the possibility of early repayment.

Car loan program from Alfa-Bank

There are also programs in this bank with an initial minimum contribution - from 10 percent. The conditions of this program are much more attractive:

• interest rate from 11,75 to 21,59 percent per year;
• the maximum amount is 5,6 million rubles.

Of course, there are also subsections. Thus, private clients can receive a maximum of 3 million at 15,79-16,79 percent, while the initial payment is at least 15 percent. There is also an opportunity to purchase a car without CASCO registration, but this is available only for payroll and corporate clients, and interest rates will be 17,79-21,59%.

From the foregoing, a conclusion suggests itself - carefully read the agreement with the bank, especially small footnotes. Buying a car without a down payment is a tempting proposition, but you will have to overpay more.

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