Car loan at Sberbank - interest rates and conditions for obtaining

Sberbank is the largest bank in Russia, its assets exceed 17 trillion rubles. The bank has the most extensive network of branches throughout the country, and it is no secret that a huge number of Russians prefer to use the services of this bank, especially now, in the context of a financial crisis that cannot end in any way.

Sberbank's loan program, it should be noted, is not the most attractive, even among Russian banks, and there is no need to talk about European banks.

Judge for yourself: in Germany, the interest rate on a car loan with an initial payment of 15-30 percent of the cost averages 5,5-5,75 percent per annum, in Sberbank - 15. Comments are superfluous.

Let's take a closer look at what Sberbank can offer to those people who want to buy a car on credit.

Advantages of a car loan from Sberbank

One of the main advantages of lending in this bank is the absence of the need to confirm your income. The maximum amount reaches five million rubles, up to two working days are allotted for consideration of the application and making a decision on the loan. If a person is a client of Sberbank, then a decision can be made within one hour.

After making a positive decision to the client up to 90 days to choose a car, and it can be either a new model from a car dealership or a used car.

Documents for obtaining a car loan

If you choose Sberbank, then you need to present the following documents to receive the required amount of funds:

• two documents confirming your identity - a passport with Russian registration and any other document (passport, military ID, birth certificate, driver's license, and so on);
• car loan application.

In principle, this is all, although if you want to confirm your income, you can provide a copy of the work book and a recent income statement. In addition, it is allowed to provide documents confirming the employment and income level of your next of kin, as well as your spouse.

When the possibility of obtaining a car loan is confirmed, you need to provide the following documents from the car dealership:

• contract for the sale of the vehicle you have chosen;
• a copy of the vehicle passport;
• invoice for payment of the vehicle and all insurance premiums (OSAGO and mandatory CASCO).

A prerequisite is the provision of a payment document confirming the payment of at least 15 percent of the cost of the car. Without a down payment of 15%, it will not be possible to get a car loan at Sberbank.

CASCO can also be issued on credit, in which case you will need to provide an invoice for payment of the insurance premium.

Citizens aged 21 to 75 years old can receive a car loan at Sberbank, and the borrower must be 75 years old at the time of loan repayment. If a citizen takes a car loan without confirming the level of their income, then the maximum age is 65 years.

One important condition is that even if you receive a loan without confirming your income, the total experience for the last 5 years must still be at least 1 year.

And now the most interesting - interest rates on a car loan from Sberbank of Russia

A car loan from Sberbank can be issued for a period of three months to five years. The longer the loan term, the higher the interest rates.

Interest rates for 2014 are as follows:

• a loan is taken for a year - 14,5 percent per annum;
• from one to three years - 15,5 percent;
• from three to five - 16 percent.

If a person has a deposit in this bank or a Sberbank salary card and receives money on it regularly, then the rates are reduced by one percent.

As you can see, the most profitable option in the case of Sberbank is a loan for one or two years. The higher the down payment, the lower the overpayment. To calculate how much you will have to overpay money, you can use a loan calculator.

If you take a car for 5 years at 16 percent, then as a result you will overpay 80% of its value - not the most profitable prospect.

Loan payments are made monthly, delays, as usual, lead to penalties - an increase in the interest rate to 20 percent of the amount of the penalty. That is, there is no need to joke in this matter. In extreme cases, the bank will be forced to take the car away, put it up for sale to pay off the penalty, and all the remaining money will be returned to the borrower - that is, in this case, the financial losses will be significant, since used credit cars usually cost 20% less than their original cost .

Buying a car on credit is a serious decision, so evaluate all the risks well, consult with your family members. Be sure to use the loan calculator and see if you can painlessly give the amount of 5-10-20 thousand rubles a month for your budget.

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