On July 1, 2013, the Government launched the Preferential Car Loan Program.
In July, the State Program for Subsidizing Interest Rates on Car Loans for Banks was launched. Under a similar program in 2011, 263 thousand loans were issued (582 thousand applications were submitted).
Key conditions of the program:
- Subsidies to banks are 5.5% per year. (The rate is floating. Depends on the Central Bank rate). Thus, on average, banks will reduce interest rates on car loans by the same amount.
- The program includes cars with a price of up to 750 thousand rubles. and weighing up to 3.5 tons.
- The car was produced no more than 1 year ago, it was not registered with an individual before, it was not registered.
- The down payment for a car must be at least 15%.
- Loan terms under the program up to 3 years.
- The amount of money is limited, so the end of the program is determined by their availability.
According to the calculations of the partner, the financial portal Bancloud.ru, the program will help to save up to 60 thousand rubles on interest payments to the bank on credit. This is a good support for car loan buyers.
By participating in this program, the buyer can choose a car from the following list of models:
Chevrolet Niva, Chevrolet Aveo, Chevrolet Cobalt, Chevrolet Cruze, Citroen C4, Daewoo Nexia, Daewoo Matiz, Ford Focus III, Hyundai Solaris, Kia Cee'd, Kia Rio, Lada Granta, Lada Largus, Lada Priora, Lada Kalina, Lada Samara, Mazda 3, Mitsubishi Lancer, Nissan Note, Nissan Tiida, Opel Astra, Renault Logan, Skoda Fabia, Toyota Corolla, Volkswagen Polo and others.
Before going to apply for a loan at a dealership, find out the offers of all banks. Also remember that in most cases, a car loan requires CASCO insurance for the entire loan term, which significantly increases the cost of the purchased car.
