Car loan at Home Credit Bank

Home Credit Bank is one of the leading financial services in Russia. In terms of lending to the population in 2012, it took the third place, the amount of the bank's equity capital reaches 50 billion rubles, and net income for different years fluctuates between 15-20 billion rubles.

The bank's services are used by millions of Russians, a network of branches and ATMs is developed, the bank is also engaged in charitable activities.

Car loans from Home Credit Bank

The bank offers its customers several loan programs for buying a car.

Programs for inappropriate receipt of funds, that is, you can receive an amount from 50 to 500 thousand rubles and use it at your discretion.

This program has both its pros and cons.

Cons:

• rather high annual interest rate - 23,9% per year;
• strict requirements for clients - be sure to indicate sources of income, a positive credit history, age from 23 to 64 years.

That is, in fact, you just get money in cash on a bank card and buy whatever you want. Such a system also implies certain positive aspects:

• it is not necessary to issue CASCO without fail;
• if you buy a used car, then it may be of an earlier year of manufacture than required by all banks (not older than 5 years for domestic cars, and 10 for foreign cars);
• you immediately become a full-fledged owner of the car and you have all the documents in your hands, that is, if you wish, you can resell the car, donate it before redemption.

To obtain such a loan, you will need a standard set of documents:

• passport and another document to confirm identity (passport, military ID, VU, pension certificate);
• documents to confirm solvency (salary certificate, copy of the work book, CASCO policy, PTS, passport with a stamp on going abroad in the last year, etc.)

The application for a loan is considered up to five days and the money is immediately credited to your card. Loan term up to 60 months. You need to repay the loan in equal parts in any available way, there are no commissions for registration and early repayment.

If you are a pensioner, then there is a pension program for you, although you can get only 150 thousand, but at a lower interest rate - 22,9 per year. The terms of registration and repayment are the same.

Special car loan programs

Home Credit Bank also offers a number of targeted programs for the purchase of cars. The most common one is “AUTOMANIA“. What is this program and what are its benefits?

The first thing that catches your eye is a small amount of loans - no more than 500 thousand, that is, this program is aimed at purchasing budget cars. The term for which you need to repay the loan is up to 4 years.

Cars can be purchased both new and used. All those citizens who have Russian registration and a permanent source of income can apply for a loan - a certificate of income is required.

A loan is issued according to the usual procedure. You select a car model that suits you, the owner or managers of the salon issue you an invoice, with which you go to the bank or contact a credit consultant. To receive a positive decision, present all the necessary documents and an income statement for the last time. Consideration can take up to five days, after which the money is transferred to your account.

But there is one very serious "BUT" - the rate will be up to 29,9 percent per year. To reduce it, you need to register the car as a pledge to the bank within nine months after the purchase. Under this condition, the rate is automatically reduced to 18,9%. If the car is pledged to the bank, you will only be given a copy of the Title Deed, and you will receive the original in your hands after redemption. You also need to apply for CASCO.

There are other programs aimed at purchasing used and new cars. The New Cars program allows you to buy a car worth up to one and a half million rubles. The interest rate depends on the amount of the initial payment and the loan term, the minimum rate is 14,9 percent.

There is also a program for purchasing a used car in the amount of up to 1,5 million rubles. The minimum interest rate will be from 16,9 percent per year. The loan term is up to 4 years, the borrower needs to confirm the level of their income.

It is also worth mentioning that the bank has partnerships with various car dealerships, in addition, various promotions are sometimes held, and changes are made to certain programs. To take advantage of the promotional offer, you need to carefully read the terms, because many customers peck at advertisements like “5,9 percent per annum, plus a set of winter tires as a gift.” However, upon closer examination, it turns out that such conditions are valid only when an initial payment of more than 50 percent is made, or only for a certain model.

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