With the development of the car loan market, it has become easier to buy cars – even with a lack of own funds. Russian banks offer a variety of programs that make it possible to dispense with any investment from the future car owner.
Car loan on two documents without an initial fee is the easiest and fastest way to get a new car, while spending a minimum of money and effort. The so-called express loan refers to a consumer type of loan that does not require confirmation of its own income and other supporting certificates.
Features of the loan on two documents
The features of express loans are the absence of the need for guarantors and the quick time to consider the application. Car loans require collateral, and the object of collateral is purchased vehicles.
Express loan does not imply a large list of documents that is required when making loans for expensive purchases. Citizens apply to this type of banking services in the following situations:
- Urgent need for purchase.
- Impossibility to confirm official employment.
- Lack of certificates of labor income.
- Too small amount of confirmed official earnings.
The express loan program will allow you to take a car if there are only two papers: the main civil document and the second additional ID.
When applying for such a loan, you should be prepared for more stringent conditions for issuing bank funds, however, if you wish, you can choose the most optimal option among those currently operating in credit institutions.
The features of autoloan with a minimum set of documents include the following characteristics:
- limited credit line that does not allow to buy an expensive foreign car;
- a shorter repayment period compared to a classic car loan (the maximum period for repayment does not exceed 5 years);
- increased interest rate (as a rule, express credit entails an increase in overpayment of 3-7%);
- compulsory registration of Casco.
Categories of citizens who have a chance for a car loan on 2 documents
Obtaining a loan for a car on two documents implies increased risks for the bank – a limited number of certificates does not allow bank services to confidently expect one hundred percent refund with interest payments in the required time frame.
There are general requirements for borrowers who have high chances to get a loan:
- Citizenship of the Russian Federation / registration in the country.
- The age limit within the working capacity of the borrower is 21-55 years.
- If the borrower is a man, it is necessary to confirm that at the time of applying for a loan, he is not subject to appeal and does not pass military service.
- Total official employment experience should exceed 1 year.
- Banks, as a rule, provide lending services if the address of the permanent registration of a citizen is located within the service provided by one of the branches of the bank (in the region where the bank is present).
- The availability of certificates confirming income provides for lower interest rates.
- If a citizen is a bank customer (receives a pension or salary on a card issued by a certain credit institution), the chances of a positive bank response and low interest are much higher, while the time period for consideration of the application is reduced.
- The higher the proportion of the down payment, the better the loan offer will be.
The following pattern is observed in determining the conditions of auto-loan: the more the bank has guarantees of return of funds issued to the client in full and in a timely manner, the higher the chances of getting approval for a loan with more favorable conditions.
Since a car loan for two documents does not imply the preparation of salary certificates and other documents confirming the borrower’s work activity, the percentage assigned by the bank is likely to be higher than with the standard consideration of the application.
Conditions of receipt
One of the main conditions for concluding an agreement with a bank is to buy a car through a car dealership, i.e. a legal entity must act as a seller of a car. Buying a vehicle with hands is possible only with a non-earmarked loan (consumer loan), which does not require you to negotiate a transaction with the bank, but the loan rate will be higher.
In addition to the passport, the applicant may request a second document from among those listed below:
- Taxpayer Certificate (TIN);
- driver’s license;
- international passport;
- military ticket, etc.
Individual credit organizations issue loans with a minimum package of papers, requesting as a second document 2-NDFL or employment record (a copy certified by the employer).
Nevertheless, the positive history and the availability of a issued card issued by the bank allow us to hope that there will be no problem with the issuance of an express loan even without a certificate of income.
Another document that the lender will need after completing the transaction is the TCP for the purchased car. The vehicle will be pledged for the duration of the loan, so the TCP will be kept in the bank until the loan is closed.
Ways of registration
It is not necessary to first apply to the bank branch in order to submit a preliminary application. The most common conversation about car loans occurs when visiting a car dealership. Most car dealers in the cabin have small offices of banks cooperating with the seller. Immediately on the spot, you can submit several applications to different banks and wait for a preliminary decision.
Also, the application can be submitted online without leaving home. In this case, the client independently fills in the necessary personal information in the application form, the form of which is available on the official Internet resources of various banks.
Addressing directly to a car dealership, a buyer can receive interesting offers as part of a promotional offer from the manufacturer of a car brand or as part of a bank’s marketing event. You can learn in advance about the promotion of the campaign among the news of the company producing the model of interest cars.
Description of the procedure of buying a car on credit
The process of car registration with the help of borrowed funds requires adherence to a certain sequence due to the need to issue a pledge for a credit car.
In order to become the owner of the cherished car, you need to take the following steps:
- The definition of the creditor bank.
- Sending a preliminary application to the bank. For express loans, the time period for receiving a response from a credit institution will be minimal. As a rule, the main reason for approving the application will be confirmation of solvency and a good credit history.
- Choosing a car that best suits the customer in car dealerships.
- Conclusion of a preliminary contract with a car dealer.
- Submission of transaction documents for final approval to the bank.
- Signing a loan agreement, execution of related documents.
- Funds under the contract are transferred directly to the account of the organization-seller.
- PTS transfer of the purchased car to the bank for storage.
Current car loan offers with a minimum of documents
If the future car owner has neither the time nor the ability to search for the most profitable purchase financing proposal, you can refer to the easiest ways of processing:
- Tinkoff Bank. The only bank in Russia, offering its services to all categories of citizens without having to visit the office, gives out Platinum series credit cards with the right to use the credit limit of 300 thousand rubles. The application is made online, and the answer with the approval of the bank comes within a few minutes. The benefits of such a card include the 55-day grace period, when interest on the money spent on the purchase of cars is not charged. Card delivery is carried out within the next 2 days. For their services, the bank will take 19.9% per annum of the amount spent.
- Sovcombank. As part of a car loan without a down payment on the security of an old car allows you to buy cars more expensive, since the limit of funds reaches 1 million rubles. The rate for a loan is 17.0%. The bank makes its claims on the pledged object – the year of issue is not more than 19 years before contacting the bank, a citizen who is officially employed and lives in the city of presence of the bank’s office can become a borrower. A separate requirement is the availability of a landline telephone – work or home.
If you have time, you can find more suitable options for buying a car by 2 documents:
- VTB24 offers to take a loan “Autoexpress”, guaranteeing almost instant consideration of the application. The applicant can buy a car of any manufacturer (domestic or foreign). Down payment – from 20%, and the rate starts from 15.9% (depends on the maturity). Under this program, you can take from 300 thousand to 1.5 million rubles.
- Rusfinance Bank allows you to receive up to 1.2 million rubles for 2 documents. The interest rate varies, depending on the amount of the entry fee, from 19.5%. The contract is for 5 years. Buying an insurance policy will help lower the rate.
- Setelem Bank allows you to receive the amount missing for buying a car or fully pay for the car at the expense of bank funds. A car loan without income confirmation is issued within 2 million rubles, if the object of purchase is a foreign car. You can buy domestic transport using a loan of up to 1.5 million rubles. The percentage for the use of bank funds is 19.5-21.0%.
Car loan on two documents
If many banks offer car loans under two documents, then without the availability of start-up capital, the chances of finding an acceptable lending option are much lower. The introduction of the initial amount allows the bank with a greater share of confidence to count on a full return of the debt with the payment of all interest, because the presence of savings is a signal of material well-being and responsibility of a person. If the applicant cannot provide documents confirming labor incomes, the search for a decent auto offer is significantly complicated.
The easiest way to buy a car with no savings is to take a consumer loan for a down payment. However, the conditions of unauthorized lending are significantly tougher, and the borrower acquires double financial obligations: on the main loan and consumer credit.
The summary table will allow to understand the existing banking programs without a down payment and find the most suitable option:
Russian banks are constantly improving their proposals and adjust the conditions to meet the changing economic situation. Before choosing a car loan program, it is recommended to send several requests to different banks.
When signing a loan agreement for the purchase of a car, you should carefully study the conditions of the bank and be prepared for overpayment of interest, using the financial means of the bank with the provision of only 2 documents.