Tips for registering a car loan
Tips for registering a car loan
In order to become the owner of the cherishedcar, you just need to apply for a loan. Many are frightened of the very word credit. But the desire to have a car exceeds the fear of having a car loan. And now you are sitting at the table at the credit inspector, and we listened attentively to his questions, answering them not always as it would be necessary.
Sometimes a person who came for a car loan, absolutelydoes not understand the credit inspector. He thinks only about how to quickly sign everything and, having received the keys to the car, the happy ones will drive home. And then there comes a payback for a hasty decision. It turned out that the loan is hard to pay, since the loan rate is high. Whatever it is, let's take a closer look at this alluring term "Auto Loan".
The main thing that needs to be done is to decidewith the brand of the car. The price of the car should be quite real for the borrower's income. The borrower should clearly understand that he will pay the bank not the amount indicated on the price list in the showroom, but much more. Now you need to determine the amount of the down payment. The amount of the initial installment determines the interest rate on the loan. That is, the larger the loan contribution, the lower the loan rate.
You can get a loan for cars and withoutinitial payment, but then the rate on the loan will be higher. If the future borrower is officially registered at work and can take a certificate of his income from work, then you can apply for a loan at a lower rate. The Bank, having reviewed all submitted documents, takes a decision on granting a loan. The financial institution issues a letter of guarantee to the borrower with the amount of the approved loan. Taking this letter, the borrower goes to the showroom for the car he likes. There the contract of sale of the car is concluded, the initial payment is made and the account on payment is written out.
Now the borrower returns to the bank and gives backto the creditor: the contract of purchase and sale, the account and the receipt for making an advance payment to the cash department. It remains for the borrower to only sign a loan agreement. The bank will transfer the money to the salon and issue a payment order to the borrower. With a payment order, you can go to the car after the car. Yes, the procedure is long. It may take several days. But in that case, there is a possibility to save decently on interest. If the future borrower can not provide a certificate of wages from the workplace, then it makes sense to make out a loan immediately in the showroom. Now in every motor show there are representatives of several banks. They are very competent and competent.
In the case of a car loan in the cabin you needto focus not so much on the interest rate, but on the amount of the monthly contribution. The amount of a monthly car loan contribution must be acceptable to the borrower. That is, the monthly income must be enough not only to pay for the loan, but also for other urgent needs of the borrower. Many are afraid of long terms of credit and large overpayments. But in the absence of a permanent guaranteed monthly income, it makes sense to consider a longer loan. Then the amount of the monthly payment will be much less.
And one more important question when choosingcar loan: this is the registration and payment of CASCO. Some banks offer their clients to issue a loan without CASCO. But in this case, the interest on the loan will be much higher.
