Preferred car loans: list of cars, conditions

As part of the support provided to the domestic auto industry and to giving citizens the opportunity to buy their own car, the government offers preferred auto loans. It is due to the fact that, due to state support, a loan is given to buy a car on favorable terms, so that a reduced interest rate is set. If a person plans to buy a car at the expense of loan funds, you should understand all the rules and nuances of such a loan. More exposition at

General information

General information

Due to the economic crisis, demand for cars and bank credit products declined significantly. As a result, the state has to develop various programs that make it possible to make large purchases on favorable terms.

Preferred car loan program in force However, numerous changes and sub-programs have been made regularly for several years. Numerous innovations were adopted in 2018. The main purpose of this proposal is the possibility for every citizen to own his car, while at the same time paying special attention to the purchase of domestic cars.

conditions of participation

conditions of participation

In 2018, specific conditions were set for such a loan to buy a car. Before granting such a loan, it is necessary to clarify which banks operate under this program. Preferred car loan conditions are as follows:

  • The cost of the car should not exceed 1 million 450 thousand rubles.
  • a car loan is issued for up to 3 years;
  • Only new cars are bought, so it shouldn’t take more than a year from the time of their release.
  • The borrower charges 20% of the cost of the selected car because these funds are used as a deposit.
  • Cars have to be manufactured or assembled in the Russian Federation;
  • You can only select new cars, so it is not allowed that they were previously given to another person.
  • The machine weight should not exceed 3.5 tons.

Because of such restrictions, you can only buy some types of inexpensive cars. Preferred car loans attract people who do not have their own vehicle. Banks operating under this program are usually large and stable.

The concept of preferred auto loans

The concept of preferred auto loans

A special loan is offered that offers borrowers favorable terms. Your main goal is to buy a car that can be domestic or foreign.

The need for preferential car loans Due to the low purchasing power and a severe economic crisis in the country, citizens cannot buy a car at their own expense. The state offers a small percentage of car buyers. The interest rate differential to the bank is covered at the expense of government funds.

The purpose of such a proposal

Federal security when buying a car in The loan is intended to solve several problems that are important for Russia. The state auto loan program was introduced to achieve the goals:

  • increased demand for cars;
  • increased citizens’ interest in credit products;
  • Providing the population with their own cars.

By default, a car loan offers an interest rate between 15 and 25 percent. However, using this program sets an interest rate of 8 to 10 percent.

Legal regulation

Legal regulation

The procedure for obtaining a low-interest loan for the purchase of a car is regulated in PP No. 364.

This program has been extended until the end of 2018 and it is planned that it will be valid for a few more years until the situation on the car loan market has cleared up.

The essence of the program

The essence of the program

First of all, you should understand what is such a unique offer. The government’s preferred auto loan program provides government assistance to buy a car:

  • The state pays 10% of the cost of the car under the sub-programs.
  • If the bank sets the interest rate within 15%, it will be reduced to 8 or 9% due to participation in the program, since the difference is covered by budget funds.
  • Such loans are offered in almost every major bank in the country.
  • The property acquired serves as security.

The program started operating in 2009, but in 2012 the highest demand for cars bought with credit was observed.

What kind of cars can I buy?

What kind of cars can I buy?

To really count on the state’s support in buying a car on credit, it is important to choose a car that is on a special list for this program. To save their own money significantly, citizens often choose preferred car loans in 2018. The list of cars contains the most popular and popular brands.

You can buy cars of the following brands with government support:

  • LADA;
  • Renault;
  • Nissan;
  • Chevrolet;
  • Fiat;
  • Ford.

Preferred auto loans can be applied for many cars of these brands. The list of cars can be fully studied in PP No. 364.

How do I buy a car at preferential terms?

How do I buy a car at preferential terms?

If a person wants to participate in the program, you should consider what step-by-step actions to take. For this purpose, it is first recommended to decide which car to buy. When carrying out follow-up actions, state-preferred car loans are offered:

  1. First of all, a citizen decides which car to buy and has to meet the requirements of the program.
  2. The dealer organization from which the vehicle is purchased is determined and the company must work with banks as part of a preference program.
  3. A bank is offered that offers a car loan with government support, and the institution should be suitable for the needs and desires of the potential borrower.
  4. An application is made and submitted, along with the documents required for the loan.
  5. Next, you have to wait for a decision by the bank and the government agency involved in allocating low-interest loan funds for the purchase of a car.
  6. An agreement is made with the bank.
  7. A deposit is paid for the purchase of a car.
  8. A loan contract is transferred to a car dealership, after which the borrower receives a car.
  9. He is registered with the traffic police.
  10. A mortgage and insurance policy is created;
  11. PTS and insurance must be brought to the bank.

After following all of the above steps, the borrower only needs to take out a loan monthly. Preferred auto loans are considered easy to arrange, so you can count on a low interest rate with little borrower effort when applying for a car purchase loan.

What documents are required?

To buy a car based on low-interest loans, the borrower has to prepare certain documents. It may differ slightly in different banks, but paper is usually required:

  • well-formed application for a car loan;
  • driver’s license;
  • Certificate 2 – income tax from the main job;
  • Passport of a citizen;
  • TIN and SNILS;
  • Military ID for men;
  • Marriage certificate when borrowers apply for a car loan under the Family Car program.

The exact list can be found directly on the website of the selected bank. Before submitting an application, you should decide which car to buy, as not all cars offer preferred auto loans.

Who can participate?

Citizen requirements are represented as banks, loan issuance and the state providing budget funds to cover the interest rate differential. The preferred auto loan program is available to citizens who meet the following conditions:

  • Only a Russian citizen can act as a borrower.
  • his age should range from 21 to 65 years;
  • The credit rating must be positive, so delays in other loans or outstanding debts in the past are not permitted.
  • If the borrower is a woman, he should not have children whose age has not reached 6 months.
  • the presence of a permanent and official body;
  • high income to process loan payments;
  • the presence of a large amount, which should cover 20% of the cost of the car, since a large down payment is required when receiving such a loan.

Each proposal is examined separately by the bank. If there are certain shortcomings or the requirements are not met, preferred auto loans can be refused.

Which bank should I contact?

As part of the state program, difficult conditions are presented for banks that can offer car loans to borrowers at preferential terms. The institutions had to make a certain selection. The main requirements include:

  • The authorized capital should be more than 70 billion rubles.
  • 50% of the shares should belong to the state.

In 2018, the requirements weakened somewhat, so more than 90 banks are already offering preferred auto loans. Each organization offers its own terms and interest rates. However, with government support, borrowers can expect an interest rate of up to 9.5%.

What are the conditions for families?

What are the conditions for families?

The program, which is primarily offered for car loans, contains several sub-programs. They are aimed at different categories of citizens, which is why preferred auto loans are so attractive in Russia. Family Car – This is one of the subroutines aimed at families with young or large families. The main conditions of this subroutine include:

  • Citizens have official jobs;
  • The family income must be sufficient to make loan payments.
  • for families a discount of 10% of the cost of the selected car;
  • A marriage certificate is required by young families;
  • If a large family claims to participate in the program, an appropriate certificate and a certificate of family composition are required.

This proposal is particularly relevant for large families because citizens really need a car to transport children.

Causes of failure

Banks can deny potential borrowers to participate in this program if there are good reasons. This is most often caused by:

  • poor credit history in the past, therefore, a citizen has had delays and other problems in repaying loans;
  • A car is selected that is not covered by the program.
  • You need to buy a used car or a car that is older than a year.
  • the application displays a car whose mass exceeds 3.5 tons;
  • A citizen wants to buy a car that is going to another country.

Most of the time bank failures are justified, so the borrower has to choose another car or increase their income.

Can I use the program without a deposit?

Can I use the program without a deposit?

PP No. 364 clearly states that to receive From the borrower, government subsidies are required to receive a certain amount, which is 20% of the cost of the car. However, some banks offer slightly changed conditions. There are also several subroutines that simplify the conditions for providing support.

If you use the FamilyAuto ”, there is a 10% discount on the purchase of a car, so buyers can initially expect a price reduction for a car. A discount is only granted if you apply for a car loan from a bank. Bring it with your own money won’t work. In such conditions, it is advisable to grant a car loan for a minimum period with a small overpayment, which offers a 10% discount on cars. Then you can repay the car loan early so as not to overpay the interest.

Benefits of using the program

Buying a car by participating in a government program has many advantages. This includes:

  • Loyalty of potential borrowers to banks;
  • the possibility of a 10% discount on the car;
  • Even large or young families can get a car loan.
  • A low interest rate is proposed because the difference is covered from public funds and the overpayment of the loan is small.
  • You can choose a car from a significant list of cars.

Thus, every citizen of the Russian Federation can, under certain conditions, count on a preferred car loan when buying a new car. The state offers support by offering low interest rates or a discount on the purchase of a car. Borrowers are not subject to too strict requirements, so that almost everyone can benefit from such an offer.

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