What is the state preferential car loan program?

The state program of preferential car loans is aimed at stimulating the Russian automotive market and improving consumer demand. The program was resumed from July 2013, with its help it is possible on favorable terms to buy a foreign or domestic car. This is one of the most effective programs that helps save many jobs and increase sales of passenger and commercial vehicles.

Car loan is provided to borrowers on favorable terms. The state pays 2/3 of the refinancing rates of the Central Bank. The rate is 8.25%, and compensation is 5.3%. If we consider that the loan rate is at level 12-18%, it will be necessary to overpay 8-13%.

The Ministry of Industry District amounted to a list of 50 cars for which car loan on preferential conditions can be issued. Models of cars on which the preferential loan acts, but not in all the equipment: Chevrolet Cruze, Citroen C4, Kia Cee'd, Ford Focus, Mazda 3, Mitsubishi Lancer, Nissan Tiida, Opel Astra, Peugeot 408, Skoda Octavia, Toyota Corolla. The rest of the cars can be issued on a loan on preferential terms in any grades: Chevrolet (Niva, Aveo, Cobalt), Citroen C-Elysee, Daewoo Nixia, Daewoo Matiz, Lada Granta (Kalina, Priora, Samara, Largus), Nissan Almera, Nissan Note , Peugeot 301, Renault (Duster, Logan, Sandero), Skoda Fabia, Votkswagen Polo, UAZ, ZAZ.

There are certain conditions on which preferential car loan is issued. The cost of the acquired car may not exceed 750 thousand rubles. The actual mass of the car should not be over 3.5 tons. The car can be released on the territory of the Russian Federation or imported. The service life of the car can not exceed 1 year. The purchased vehicle should not stand on the registration record, but this does not apply to used cars. It will be necessary to make a prepayment of 15% of the cost of the car. The loan agreement lies no more than 3 years. These conditions are more loyal than according to a similar program operating in 2009-2012.

Banks operating under the program of preferential car loans impose different requirements for borrowers. Each application is considered individually. A package of documents required for loan design may vary.

Inventive dealers offer their customers to purchase cars in a preferential program exceeding the maximum permissible cost. The bank indicates that the cost of the car falls under the terms of the program, and the price difference is paid directly to the car dealership. The real price of the vehicle is put in the contract with the buyer and document documents. However, in the case of a serious accident or car hijacking, the insurance company will not pay more than 750 thousand rubles. Insurance is drawn up only by the amount specified in the Bank's Treaty. Or, more worse, the borrower can open the case on the article "Fraud".