Buy a car in installments without a bank

Installment - this concept has been known to us since Soviet times, when young families bought household appliances and furniture in this way, and the overpayment was minimal - a small commission for registration. It is clear that many would dream of buying a car in the same way in the cabin - making an initial payment, and then repaying the entire amount without any interest in a few months or years.

Today, programs offering to buy a car in installments really exist and are in demand among the population, because this form of loan is really interest-free. In addition, the illusion is created that the client works directly with the salon, and not with a bank or credit institution.

Conditions for buying a car in installments

It is worth saying that the conditions for obtaining an installment plan right in the salon can immediately cool the ardor of many:

• it is given for a relatively short period, usually for a year (some salons may offer installments for up to three years);
• the initial payment is obligatory and averages from 20 to 50 percent of the cost;
• the car must be insured under CASCO.

The scheme for obtaining installments is also interesting. Formally, you enter into an agreement with the salon, but the salon is not a financial institution and the participation of the bank will be mandatory. You pay part of the cost of the car, then the car dealership assigns the remaining debt to the bank, and at a discount. This discount is the bank's income - after all, you will still have to pay off the entire debt without a discount.

One can only guess how bankers and owners of car dealerships agree among themselves. In addition, in installments you can not buy any car, but only a promotional one. Usually these are the models that sell the worst or are left over from past seasons.

Well, among other things, you will definitely need to apply for CASCO, and not just anywhere, but in those insurance companies that you will be offered at the car dealership. It is curious, but then it turns out that it is in these companies that the CASCO policy will cost more than that of competitors. This is also part of the "conspiracy" between banks, salons and insurance companies. If the installment agreement is concluded for several years, then the cost of the CASCO policy will remain the same, that is, you will lose a few more percent.

No matter how much you want to contact the bank, you still have to draw up a bank account and a plastic card with which you will pay your debt. A certain commission is also taken for servicing the card.

That is, we see that interest-free installments will still require additional related costs from us, and the bank will always take its toll.

How to get an installment plan for a car at a car dealership?

To apply for an installment plan for a car at a car dealership, you need to bring a standard set of documents: a passport with registration, a second identity document, a certificate of income (without it, no one will give you a car in installments). In addition, you will have to fill out a huge questionnaire in which you need to honestly indicate all the information about yourself, about movable and immovable property, about the income of family members, about the availability of loans, and so on. All this information is then carefully checked.

It usually takes three days to make a decision, although they can approve the installment plan earlier if they see that they are a normal person with a positive credit history. A positive decision remains valid for 2 months, that is, you can choose some other car or change your mind altogether.

In principle, according to the design of the installment plan - that's all. Then you make an initial payment, go to register a car, buy OSAGO, CASCO, and so on. Title remains in the salon or goes to the bank, you will receive it after paying the debt.

Other ways to buy a car in installments without a bank

If such an installment plan in the salon “without a bank” does not suit you, you can try to purchase a used car on the secondary market from a private trader. This is perfectly acceptable and does not violate the law. A very wide range of options is possible here, but all of them must be notarized:

• a contract of sale is drawn up, it describes in detail the terms of payment;
• a loan agreement is drawn up - you receive a car and undertake to pay it within the specified period;
• receipt - a receipt is drawn up, in which all the amounts paid are entered and all this is certified by the signatures of the parties to the agreement.

In approximately the same way, you can buy a car from an organization. Too many employees make a verbal or written agreement with their superiors and use company cars as if they were their own, while paying a fixed rent. With this method, the boss does not need to worry at all, since he controls the income of his subordinate.

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