Buying a car for many people in Russia is still an unfulfilled dream. The thing is that it is quite difficult to save up for an expensive purchase, because every day we have new expenses on which we spend the bulk of our income. Many people prefer to save for years to make their dreams come true, but you can do differently by simply using the services of banks.
Today, credit organizations provide money practically for any purchases, whether it is the purchase of a product or a vehicle. You can use both inappropriate consumer loans and targeted loans. The difference between these products lies in the name – a non-target loan can be used at your discretion, and a target loan is used only for the purchase of a certain product or thing, for example, a car. Today we will take a closer look at car loans, and also find out in which bank you can get a loan to buy a car without a certificate of income.
The content of the article
Why is a car loan more profitable?
Why is it more profitable to get a car loan than cash consumer loan you ask? In fact, the answer will be obvious. Taking out a loan for the purchase of a vehicle, the borrower receives more favorable conditions, namely, a reduced interest rate, a longer repayment period, the opportunity to buy the car of his dreams. You can use credit funds to buy both a used car and a new one. It should be noted that there are now quite a large number of additional programs, using which you can buy a new car quite profitably, for example, a trade-in program or buying a car from an authorized dealer.
When applying for a consumer loan, banks often ask for documents confirming income. This is due to the fact that when issuing credit funds, the bank bears some risks, therefore, confirmation is required that the borrower is solvent. Get the same car loan you can without any help, which significantly saves the client’s time, because it is quite difficult to make a certificate in 1 day.
Which banks provide car loans without proof of income?
Now let’s take a look at the currently available offers with which you can get a car loan without proof of income.
Today, you can get the most profitable car loan at VTB Bank. Here the minimum interest rate is from 1%however, to get this percentage, you will need to fulfill a number of conditions and connect some additional programs, but more on that later. Further, Rusfinance Bank offers no less advantageous offer. Here, the rate for buying a used car is from 3.9% per annum. In all other banks, interest rates and lending conditions are approximately the same – the rate is from 5.9% per annum. Now in more detail about the conditions of a car loan in each credit institution.
Rosgosstrakh Bank – a loan for personal comfort at a rate of 5.9% per annum
RGS Bank offers borrowers to get cash consumer loan at a rate of 7.9% per annum… However, if the purpose of lending is to buy a vehicle, and within 60 days the borrower provides documents confirming the purchase of a car, and also enters into a pledge agreement, then the interest rate is reduced by 2%, and the monthly payment is recalculated.
I would like to draw your attention to the fact that the bank has only two requirements for this collateral:
- The vehicle must be purchased not earlier than receiving a loan;
- the cost of the car must be at least 80% of the loan amount.
The bank does not represent requirements for insurance, the age of the vehicle, that is, the client will not have new obligations to the bank, but only the payment will be adjusted downward.
Car loan conditions:
- from 50 thousand to 3 million rubles;
- from 12 to 60 months;
- loan rate from 5.9% per annum.
Tinkoff Bank – a car loan without a down payment
The loan program from Tinkoff Bank applies to both the purchase of a new car and a used car. The money is issued on a free debit card, but you can, of course, only use cash to purchase a vehicle. The courier will bring the card with the money at any convenient time.
I would like to note that this is one of the few proposals where no down payment required on a loan. For registration, it will be enough to provide two documents – a passport of a citizen of the Russian Federation and a driver’s license. The borrower is engaged in the acquisition of a car independently, without resorting to assistance and participation in the bank’s transaction.
To issue a deposit, it will be enough to provide a copy of the vehicle purchase and sale agreement and the vehicle title.
Car loan conditions:
- from 100 thousand to 2 million rubles;
- from 12 to 60 months;
- interest rate on car loans from 9.9% per annum.
VTB Bank – a loan for a new car from a dealer at a rate of 1% per annum
This profitable program is valid only if the vehicle is purchased from an authorized dealer from a car dealership. For example, you won’t be able to buy a used car, for this you will need to consider another offer.
The interest rate depends on the connected additional services, for example, such as CASCO, insurance, etc. You can make a preliminary calculation on the bank’s website using an online calculator. However, it is worth noting here that it is necessary to make an initial payment on the loan. Its size is 20% of the value of the car. If the client does not want to make the first installment, then he will be assigned the maximum rate on the loan.
A car loan is issued according to two documents – a passport and the second documents to choose from from the list:
- international passport;
- driver’s license;
- military ID for men;
- service certificate for law enforcement officers.
Loan offer terms:
- from 300 thousand to 3 million;
- from 12 to 60 months;
- minimum interest rate from 1% per annum.
Gazprombank – a loan for the purchase of a car without a down payment
Another option for those who would like to buy a car on credit without making a down payment. It should also be noted that this will not in any way affect the size of the interest rate on a car loan. Also, it does not matter whether the CASCO policy is included in the contract, which is important, since many car owners prefer not to purchase this type of insurance due to its high cost.
Credit funds can be used to purchase not only a new car from an authorized dealer, but you can also spend money on buying a used car from a private person. For a loan of up to 1 million rubles, it will be enough to provide only one document – a passport of a citizen of the Russian Federation.
Car loan conditions:
- from 100 thousand to 5 million rubles;
- from 13 to 60 months;
- car loan rate from 5.9% per annum.
Rusfinance Bank – rate from 3.9% per annum for the purchase of a used car
In Rusfinance Bank, the borrower can arrange a car loan for the purchase of a used car on favorable terms. However, it should be noted that a prerequisite under the contract will be the acquisition of a CASCO policy and the borrower’s life insurance. It is also worth noting that to receive such a low interest rate, you will need to make at least 50% of the initial payment.
As for the requirements for a used car, they are as follows:
- mileage cannot exceed 150 thousand kilometers;
- the age of the vehicle is not more than 10 years.
Please note that after approval, the client will receive an SMS rate not 3.9% per annum, but more. In order to get a rate of 3.9%, you need to contact a car dealership and inform a specialist of Rusfinance Bank that you want to get a car loan at a rate of 3.9% per annum.
- from 300 thousand to 5 million rubles;
- from 36 to 60 months;
- interest rate on car loans from 3.9% per annum.
Requirements for the applicant
Only those borrowers can get a car loan who fully meet the requirements of the bank… As a rule, they are set by a credit institution and are different everywhere. Mainly:
- Russian citizenship;
- age at the time of obtaining a car loan from 21 years;
- age at the time of loan repayment is not more than 70 years;
- the presence of a permanent source of income;
- presence of permanent registration in the region of the bank’s presence;
- minimum work experience at the last job from 3 months.
Depending on the bank, there may also be requirements for the vehicle. As a rule, they relate to the mileage of the car, if a used car is purchased, and the age of the car.
By the way, more loyal conditions are applied for foreign cars (mileage, age).
Today we reviewed the proposals of 5 banks where you can get a car loan without providing documents confirming income. As a rule, in order to obtain a loan in all these banks, it will be enough to provide two documents – this is a passport of a RIF citizen and a second document of your choice. But it is worth noting that almost everywhere a driver’s license is suitable, which any motorist has, which greatly simplifies the procedure for obtaining a loan for the purchase of a vehicle.
editing, graphic and text design: Matsun Artyom