Car loan without down payment in Moscow

In such a big city as Moscow, it is difficult to do without your own car, especially if you are an active person and need to be in time for meetings and travel on business every day.

A car is independence from the schedule of public transport and a rather large savings, because if you add up all the costs of paying for travel in the metro and minibuses, then as a result, a rather large amount accumulates in a month.

Buying a car on credit today is not as difficult as it used to be. Banks go to meet customers and offer a variety of lending programs. On Vodi.su, we have already written quite a lot about interest rates in different banks, and in this article we will try to consider the topic of buying a car on credit without a down payment in Moscow.

Car loan without down payment in Moscow

Many of us need a car like air, but we are repelled from standard loan programs by the need to make a down payment, which usually ranges from 10-15 percent of the cost. If you look at it, then the amount is small, for example, if you buy a Renault Duster for 600 thousand, then 15 percent is 90 thousand rubles. Many do not have the patience to collect this money and they are ready to apply for a car loan without a down payment.

What you need to remember if you chose this particular method?

1. Firstly, the bank in this case takes risks, accordingly puts forward more complex requirements.
2. Secondly, the bank may require that the car be insured not only under OSAGO, but also under full CASCO, that is, “theft” and “damage”.
3. Thirdly, the car acts as a pledge, so the title remains either in the bank or in the salon where you purchased the car.

It is also necessary to clearly understand the difference between car loan programs without a down payment and express loans. The latter are often given out as car loans, but in essence these are ordinary cash loans that are issued at high interest rates and require compulsory personal insurance from the borrower, although you do not need to insure a car under CASCO.

Banks where you can get a car loan without a down payment

There are actually a lot of such banks. Let's consider some of them.

Raiffeisen Bank offers a loan with no down payment.

Requirements:

• up to 60 months;
• the maximum amount is one million rubles;
• rate - 19,9% ​​per annum;
• Compulsory CASCO, personal insurance is not required.

You can apply for this loan using two documents: a passport and any other document confirming your identity.

The borrower must have a stable income (from 15 thousand in Moscow and St. Petersburg or from 10 thousand in the regions), while the level of this income does not need to be confirmed, guarantors can also be involved, although this requirement is not mandatory.

If you are the owner of a private business or your close relative is one, and for the previous year you can provide the company's balance sheet with a tax mark, then the loan amount can be increased to 2,5 million rubles.

This program applies only to certain models: Chevrolet Aveo, Lacetti, Cobalt, also Opel Astra, Hyundai i30 or i40.

Approximately the same program offers Mosuralbank. The only difference is that you definitely need to provide a certified copy of the work book with at least six months of experience for the last five years, as well as a 2-NDFL certificate, or a tax return.

A loan can be taken in the amount of 200 thousand to two million for up to five years.

Rates:

• loan term up to 12 months. - eighteen%;
• 12-36 - 19%;
• 36-60 - 20%.

The car acts as a pledge, so be sure to purchase CASCO, and in the case of a car loan without a down payment, almost no bank will include the cost of CASCO in the loan amount - This is an additional condition that is designed to confirm the solvency of the borrower.

Quite favorable conditions are offered to Muscovites Novikombank:

• amount - up to 6 million;
• term - up to five years;
• interest rate - 13,5-17,5% per year.

But the decision to issue funds and transfer them to the client's account can take up to 7 days, and you need to provide a large package of documents, including a marriage or divorce certificate.

Also, the borrower must have a regular income and be able to confirm it: labor, 2-personal income tax, declaration, etc.

This loan is non-targeted, therefore, neither CASCO, nor DSAGO, and even more so VHI, do not need to be issued. The property being purchased is the collateral. It is allowed to attract guarantors and co-borrowers - in this case, they are also required to confirm their income.

A large number of loan programs for the purchase of a car without a down payment offers AyManiBank:

• Standard;
• Standard without CASCO;
• VIP Standard Without CASCO;
• Dealer.

But it's interesting that the booklets indicate just the same minimum interest rate that you will receive if you make an initial payment.

For example, you will receive 7% per year when making a 70% prepayment, while without a down payment, you need to count on 15-24%.

Thus, the editors of Vodi.su recommends delving into all the details of the contract so that it doesn’t happen that you “bought” the figure of 7%, and then it turns out that you need to pay 24%.

Loading…