To support car manufacturers and dealers in times of crisis, government lending programs for buyers have been operating for several years. It has now become more profitable to buy a car on credit if you take advantage of special offers for cars assembled in Russia.
The state has been helping the automotive industry to get out of the protracted crisis in the car market for several years. And as practice shows, all state support programs were in great demand by buyers of new cars. In 2018, two concessional car lending programs will operate in Russia: First Car and Family Car. Under different conditions, these programs have a common meaning: the state subsidizes the interest rate on loans to banks, which makes it possible to reduce the cost of a car and receive a significant discount.
The First Car program is designed for those who actually buy their first car in life. After all, it often happens that the first car is a used car. And the state program encourages newcomers to start their journey on a new car. Moreover, the discount on the purchase of such a car will be 10% of its original cost. You can choose a car worth up to one and a half million rubles. The only important condition is that the selected car must be new and assembled on the territory of Russia. At the same time, the list of recommended brands and models has grown to 70 items. There really is plenty to choose from.
The Family Car program is designed for families with two or more minor children. If the eldest child is 18 years old or older, but at the same time studies in the full-time department of an educational institution or is doing military service in the Armed Forces, you also have the right to use this program. The Family Car benefit is also granted for new cars purchased on credit for up to one and a half million. A one-time discount on the purchase of such a car is also 10%.
But the discount is provided for buying a car on credit for a period of three years (with the possibility of early repayment), and not for cash, with an initial payment according to an individual loan agreement (usually at least 15-20% of the value of the car).
In order to take advantage of these offers, you will have to fulfill several conditions. To begin with, choose a car suitable for the terms of the program from an authorized dealer that cooperates with partner banks. Apply for a loan by providing the required documents. For all concessional lending programs, the documents are similar, with the exception of a couple of certificates. Write an application for a loan and attach the following documents: copies of a passport of a citizen of the Russian Federation and a driver's license, a copy of a work book certified by an accountant, and a 2NDFL income statement. Additionally, the bank may set requirements for a minimum period of work in this position and a good credit history of the borrower. Those who are going to purchase a car under the First Car program must provide a certificate from the traffic police about the absence of registered vehicles (except for a scooter and a motorcycle). For those who want to use the Family Car program, it is necessary to provide originals and copies of the birth certificates of children.
