Which car loan 0. Car loan without interest

For those who do not have enough money to buy a car, it is very tempting to get an interest-free car loan. Such advertising visually shows potential borrowers the figure 0%, thereby saying that in addition to the loan amount, no one will take interest from you.

Interest-free car loan for a car

Is it really? In fact, an interest-free loan for a car is nothing but the concept of "Factoring". Since this term, which appeared on Russian market at the end of the 20th century, is not entirely clear to the average buyer, then car dealerships offer a more understandable language to issue a car loan without interest.

Why do car dealerships usually offer interest-free car loans at 0%? Because this financial transaction takes place between three parties:

Factor (bank)
Lender (car dealership)
Debtor (buyer)

The scheme of the factoring operation, hidden from the eyes of the car buyer, is as follows:

The bank and the car dealership conclude an agreement on the assignment of the buyer's debt rights.
The buyer applies to a car dealership to buy a car, while making an initial payment of 30 to 50%.
The bank redeems the car buyer's debt from the car dealership for a smaller amount. In the future, this difference will be the bank's income from factoring.
After completing the purchase of a car in a car dealership, the buyer pays the remaining amount to the bank to which the car dealership has transferred the right to demand payment of the debt.

This is how the scheme of buying a car in a car dealership using an interest-free car loan looks like. This scheme is good for the buyer because it does not need to calculate interest on the loan, make complex calculations, but will always be known lump sum debt (or loan) that will need to be paid to the bank.

How to get an interest free car loan

A car loan without interest can be obtained both at a car dealership and directly at the bank:

for unpopular car models,
for cars of the last year of manufacture,
during a car manufacturer's promotion for certain models of cars, usually from previous years of production.

For example, it is more likely to receive an interest-free car loan in 2013 for cars manufactured in 2012.

Thus, a potential buyer has a meager choice of car models that can be purchased on credit without interest. But since we are talking about saving on interest on a loan, then this method will be an attractive and profitable loan for many.

To apply for an interest-free car loan, the buyer will have to submit the following basic documents:

The passport,
driver's license,
Certificate from a permanent employer,
Information about the amount of income.

In addition to the basic documents when applying for a loan for a car, without which they can, there will be a mandatory requirement for an initial payment - from a third to a half of the cost of the car.

As for the size of a possible car loan, its amount will be different in banks, but the upper limit can reach up to 3 million rubles with a maturity of 5 years.

Those who decide to apply for a car loan without interest should not forget that until the full repayment of the cost of the car, it will be pledged to the bank. will not allow the owner:

sell car,
change car,
donate a car
Leave a car.

If you are a law-abiding buyer and do not plan to cash in on sales fraud, then you should not be afraid of this.

Hidden payments of an interest-free car loan

No matter how tempting the offer to get a car loan at 0% looks, potential buyers of a car on credit remember the cheese in a mousetrap and understand that such a formal offer may be hiding certain amounts that are to be paid. For some, it will be just a scam with a car loan.

What hidden payments can expect a happy owner of a car on an interest-free car loan:

Fee for opening or maintaining an account to which the buyer will deposit the amount of the debt to the bank,
Percentage from each payment of the buyer to the bank,
An annual bank account maintenance fee may apply,
Registration is possible credit card to pay off a debt, for the service of which a fee is also charged,
At early repayment the amount of debt is not excluded increased interest,
If the payment is delayed, the bank will charge a percentage of the penalty,
The bank's requirement to issue, which will "result" in a considerable percentage of the cost of the car,
The bank's requirement to issue life and health insurance for the car buyer, which is also an additional cost.

These are the main hidden payments that a car owner can expect after buying a car with a loan. These payments may vary depending on the bank with which the car dealership cooperates.

If you decide to take advantage of the offer of a car dealership or a bank for an interest-free car loan, then you should first find out all the conditions for providing and paying the amount of the cost of the car, and then independently calculate the loan.

In this situation, it will not be superfluous to compare the final

A car loan without interest is a temptation for many motorists, especially beginners. Today, many car dealerships, with the support of various banking institutions, provide the most favorable conditions, enabling customers to purchase vehicles with minimal initial costs. Moreover, most often such offers are relevant not only for imported cars, but also for domestic models. What is hidden behind the "interest-free" loans? What conditions do banks actually provide? How profitable is it to take a car loan at 0 percent? We will answer each of the questions.

Is it worth taking an interest-free car loan?

To answer this question, you need to understand traditional systems lending. And they offer paperwork for a period of 5-7 years, for which the borrower most often has to overpay up to 100% of the original amount, and sometimes more. If we take, issued, for example, for 2 years, the rise in price will be much less - 10%, however, for this you will need to pay a large amount initially - from 50%.

Therefore, many customers of car dealerships, having at least 2/3 of the cost of a car in their hands, try to either wait, having collected the entire amount, or borrow from friends, without being drawn into credit obligations.

Of course, if the car dealer offers a good price, the right equipment and an interest-free loan from the bank for a short period, then you should take advantage of such conditions. The costs will be minimal.

Pitfalls of an interest-free car loan

A car loan without interest in a car dealership is a tempting scheme that has its own nuances. If we consider such conditions from the point of view of legislation, there can be absolutely no interest on a loan for a car, which is indicated even in Civil Code. In this case, the lowest interest rate is used, for example, 0.0001% per annum.

In an effort to buy a car on credit, it is worth considering insurance. This is an additional expense item, which will require about 6% more of the amount per year. If it is supposed to issue a loan without interest, as a rule, banks are forced to pay a one-time commission, and this is about 5%. Also, an additional requirement may be the need for life insurance of the borrower.

Car loan without interest profitable purchase, however, one more nuance must be taken into account. Any banking institution, when issuing loans, takes into account the price of deposits in the market. If the client is promised 0.0001% per annum with a down payment of 10%, it may actually turn out differently.

Very often, banks prescribe in the contract in small print. additional condition– for example, the size of the monthly commission, which is 1%. As a result, the real interest rate will not be 0.0001%, but all 20% or more. In addition, such commissions are often tied to the body of the loan, and not to the balance, so the amount will not decrease even at the end of the term.

And banks are not shy about raising penalties for such loans. And any delay in payments promises the borrower a serious increase in the size of the required contribution. Banks do not miss their benefits. And even if they promise really favorable conditions for the borrower, they earn on other schemes.

For example, on cooperation with insurance companies, which benefit from the sale of Casco policies, which means that they are ready to share with banking institutions to increase their turnover. In addition, car dealerships often offer for banks additional discounts on cars, which further increases the profitability of lending.

To register a car on an interest-free loan, a bank, as a rule, requires the following conditions to be met:

age - 21-60 years;
monthly payments cannot be more than 40% of income;
insurance is possible in a company that is listed in the list of partners banking institution.

The minimum package of documents that the borrower will have to provide:

passport and driver's license;
proof of income from employment.

For a positive decision on the application, the income must be high and stable, the length of service at the last workplace and other nuances are taken into account.

Calculations of upcoming expenses

First you need to find out from a bank employee how the monthly commission is calculated: from the loan amount or from its balance. It is best to ask for an example of a contract by which you can navigate in the calculations.

If the commission is determined depending on the loan amount, the calculation will be simplified. The advance is converted from a percentage to money format, taking into account the cost of the selected model of the machine. The resulting difference between the price and the advance is the body of the loan. And then you need to take into account everything that the bank will charge.

Let's take an example. The vehicle costs 1 million rubles, the advance payment is 10%, then we get the body of the loan - 900 thousand rubles. If the monthly commission is 0.9%, the amount of regular payments is 8.1 thousand rubles.

The body of the loan must be divided by the number of months of the loan to get the amount of installments. For example, if the loan period is 24 months, then each month you will have to repay the loan body in the amount of 37.5 thousand rubles. We add the monthly commission to this amount and get monthly payment- 45.6 thousand rubles. This will also include the cost of insurance.

What should be remembered?

If you decide to buy a car on credit with minimum size annual interest, then you should consider the proposed conditions from different banks, and also take into account some aspects:

First, it is worth weighing the very need for lending. Is a bank loan really necessary? Perhaps it is better to ask friends or relatives if a relatively small amount is missing compared to the total price of a car in a car dealership? If you have a chance to buy a car without a loan, it is better to do just that.
sober assessment financial opportunities- salvation from the debt hole. It is necessary to imagine that the loan is not taken for one month, it will have to be repaid on a planned basis over a long period. Monthly income should not only be high, but also stable. Subscribe loan documents- only half the battle, it is much more difficult to make payments in the right amount every month until the debt is fully repaid. This is especially important if an interest-free loan is issued, since the terms of such agreements, as a rule, provide for increased penalties.
You should not rush when signing documents. You need to carefully study the conditions, ask questions to a bank employee in order to understand all the nuances well: the amount of overpayment and monthly payments, methods and terms of payment, etc. Special attention should be given to parts of documents where the text is written in small print, since the main banking tricks lurk in them.
When drawing up a contract in a car dealership, you need to pay attention to the price of the car in the required configuration. Sometimes this amount is significantly higher than previously stated.
You also need to revise the terms of insurance. Most often, banks indicate those companies with which they will have to conclude an agreement. It is necessary to familiarize yourself with the main offers in order to choose the best.
Upon receipt of a defective product, if it is returned, the buyer has the right to claim damages.

You need to remember if the borrower fails to deposit mandatory payment, he needs to inform the bank about this, preferably in writing and indicating good reasons, as well as providing supporting documents.

Buying a car on credit is a common phenomenon in Russia. Over 60% of Russians buy cars using borrowed money.

Russian banks offer a wide range of programs. Among them is a car loan without interest. Some are wary of this type of lending, while others consider it a tempting offer.

To evaluate the advantages and disadvantages of an interest-free car loan, you need to know the terms of registration and requirements for the applicant.

Types of car loans without interest

Interest-free loans are divided into 2 groups depending on the place of registration. Namely:

At the dealer's showroom;
In the bank.

The stages of registration and the list of documents depends on the chosen institution. To get a bank loan you will need:

Questionnaire;
Driver license with a driving experience of at least 1 year;
Salary statement;
Agreement with the salon;
Passport of the purchased car;
Employment history;
Other documents (at the discretion of a particular bank).

In 80% of banks, a loan is issued for the purchase of a car since 1997. Models manufactured before 1997 are not credited by banks.

The list of documents for applying for a loan at a car dealership has been reduced by 3 times. To conclude a deal you need:

Passport with permanent registration;
Questionnaire;
Driver's license with a driving experience of at least 1 year.

Most dealers take out a car loan without asking for proof of income. This is in the hands of customers who cannot present it. Simplified lending is compensated high stakes. In a car dealership, a loan is issued at a rate of 15-25%.

Features of obtaining an interest-free loan in a car dealership

Making an interest-free loan for a car in the cabin is an example of conventional factoring. The parties of cooperation are:

Banking institution (factor);
Car dealership/dealer (creditor);
Buyer (debtor).

The decor in the showroom is artfully veiled. An ordinary buyer is unaware of the peculiarities of such lending. They are as follows:

The car dealership concludes an agreement with the bank and assigns the right to claim the debt;
Client pays an initial fee in a car dealership;
The bank redeems the loan, but for a smaller amount (this is its income);
The client pays the loan debt, but not to the car dealership, but to the bank, since the latter has the right to demand the debt.

The advantage of interest-free lending in a car dealership is that the buyer is freed from complex loan calculations. His duty is to make payments on the loan to the bank on time.

Features of an interest-free loan

Short repayment period. The loan is issued for a period of not more than 2 years;

High late fees. Severe sanctions are applied in case of delay in the monthly payment or in case of non-compliance with the conditions specified in the contract;

Big down payment. The amount of the first installment is at least 30%.

Requirements for potential borrowers

Citizenship Russian Federation and registration. Foreign citizens and persons without permanent registration will be denied a loan;

Age not younger than 21 years and not older than 60 years. If the borrower is over 60 years old, then life insurance will be required;

Spouse's consent to receive a loan. Consent must be certified by a notary.

Monthly payments on a loan should not exceed 60-70% of the budget. CASCO insurance is issued in a company accredited by the bank.

"Pitfalls" of interest-free lending

An interest-free loan is a classic loan in which additional payments and overpayments are skillfully disguised. Payment is due:

For the discovery bank account;
For account maintenance;
For issuing a credit card.

They also increase the size of the interest-free loan:

Interest from monthly payments;
Commission for early repayment of the loan;
Late payment penalties;
Issuance of a CASCO policy.

Making a CASCO or life policy is a significant overpayment. The cost of CASCO with a classic loan is much higher.

Depending on the specific banking institution, the list of payments may vary.

What cars can be bought on credit without interest?

The choice of cars on credit without interest is limited. Interest-free loans are issued for:

Cars that were released 3-5 years ago;
Models that are not popular.

A car bought on an interest-free loan is a pledge. It cannot be sold, exchanged, donated or bequeathed until the loan is repaid.

Advantages of an interest-free car loan

Despite the hidden payments and the limited choice of a car, an interest-free loan has a number of advantages. Namely:

The bank offers an annual rather than a monthly payment system. This is suitable for borrowers who find it convenient to pay once a year rather than monthly;

Program of discounts and promotions. Car dealerships offer discounts on unsold car models when new collections become available. This may work in favor of the buyer. The cost of the car for the action is 5-20% lower than the usual one. The terms of the loan remain the same;

Short term insurance. The cost of CASCO with an interest-free loan is higher than usual, but the car is insured for a short period. Therefore, when calculating the total cost of an insurance policy, the difference will be insignificant.

If you have any doubts about a car loan without overpayment, consider standard offers from banks. Financial institutions countries offer favorable credit conditions.

Do not forget that in 50% of cases, buying a car on credit without interest turns into a larger overpayment than lending under the standard scheme.

Any future borrower who wants to get a car loan tries to choose a program with minimum interest. Naturally, in this case, loud announcements published by car dealerships attract attention:“Loan without interest”, “Loan at 0 percent”, “Zero rate”, etc. To what extent can such ads be trusted, and why has a loan for a car without interest become possible?

Interest-free car loans: to whom they give and how much?

You can really get a car loan without interest, and in this case, the loan will indeed be formally granted without overpayment. Such offers can be found in large car dealerships that cooperate with banks on an ongoing basis. and try to attract as many customers as possible. A car loan without interest is provided according to the following scheme: a loan is issued by a bank under a regular loan program, and the standard interest rate will be indicated in the agreement.

For the sake of increasing turnover, the salon provides the client with a big discount, which will eventually amount to the amount of the bank overpayment. It turns out that a car on credit without interest is purchased in installments for its price, but the client will pay the debt not to the salon, but to the bank.

For various reasons, a car loan without interest is beneficial to all participants in the transaction:

The bank increases loan portfolio acquiring another reliable client. Loans of this type are issued only for the purchase of new cars, which are the most reliable collateral, so the bank does not risk anything. In addition, such loans are usually issued for a short period of time.
Salon gets rid of cars and makes room for new products. Very often, promotions for interest-free car loans are launched at the end of the year, when you need to sell rapidly aging cars as quickly as possible.

The insurance company provides CASCO policies for new cars on the most favorable terms for itself. Most often, the client simply has no choice, if he refuses to receive a policy from a particular insurer, he simply will not receive the promised loan. Some salons provide a choice of programs from several insurance companies, although the prices in all will be slightly inflated.
Customers receive cars on credit without interest and the opportunity to pay only the cost of the car itself, without overpaying banks. Considering that for most programs the rate exceeds 18-20%, the benefit is very significant.

Thus, a car loan without interest is a reality, and such offers can really be used. However, not every customer of a car dealership chooses such a lending option, and there are a number of reasons for this. Not every borrower can get a car loan without interest.

Cons of getting a car on an interest-free loan

The client must understand that neither the bank nor the car dealer will end up without profit, and loan offer may not be as profitable as the catchy advertisement suggests. It is important to study all the conditions as closely as possible, then you can immediately assess the disadvantages of such a car loan:

High down payment. This required condition interest-free car loans, as banks are ready to provide such loans only for small amounts. The first installment is at least 30%, most often this amount is equal to half the cost.

Not everyone can afford such large contributions, especially for expensive foreign cars. As a result, the loan program is aimed at wealthy clients who generally do not particularly need the services of banks.

Minimum loan terms. Usually it is one or two, rarely three years, and for such a period of time you need to pay a large amount. The result is a very large monthly fee, which is also not within the power of every client.
Limited choice of banks. Only 1 bank usually works with such a program, and it will not apply to every model. The loan is granted only for the most demanded and popular car, which is already in good demand.
Not always favorable insurance conditions. As mentioned above, the number of insurers is extremely limited, and the client will have to agree to the proposed conditions.

In addition to the down payment, you also have to pay CASCO insurance, which is an additional 10% to the cost of the car. If the loan is taken for 2 or 3 years, the insurance will need to be renewed annually.

All this leads to the fact that it is far from easy to take a car without interest on credit. Most often this good decision for customers who were already going to take the car for cash, and credit installment simply provided an opportunity to buy more expensive equipment or additional equipment.

Other risks of such lending

The listed risks are open, the client learns about them immediately. However, the issuance of a loan may be accompanied by a number of additional fees which will also have to be paid.

In addition, the salon to make up for losses from the repayment bank interest may charge a higher price initially. Find out how much the same car will cost in cash and you can easily see the difference.

Sometimes the dealer offers an interest-free loan only when buying an expensive equipment, thereby earning more on the sale of equipment. You can’t immediately agree to all the conditions, you should first carefully consider the nuances in order to decide whether it is worth choosing such a program at all. Car loans without interest have existed for a long time, but the number of such transactions is not growing very quickly.

Any car loan still involves a fee for using the loan, and you can not hope for a miracle. It is necessary to know in advance all the conditions of lending, so that later the parties do not have mutual claims. On the other hand, such a loan does involve a minimum overpayment, and if there are no problems with finances, this possibility should be carefully considered.

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Currently on the market a large number of car loan offers. Target loans not only banks, but also car dealerships make out for the purchase of a car, leasing companies. Plus, you can buy a car at the expense of non-purpose loan. Given the great competition, each market participant wants to attract solvent customers in every possible way. To do this, they come up with various special programs with interesting conditions. One such financial product is an interest-free car loan.

What is an interest free car loan

Often car dealership managers offer potential clients get a car loan at 0 percent. Many do not believe in such a “generosity fair”, because banks are not charitable foundations and their main goal is to make a profit. By the way, this also applies to other market participants. But then, where is the catch in the loan program? First, consider what parameters are characteristic of preferential lending conditions:

Usually a low, almost zero interest rate is offered to customers if they apply for a loan or installment plan for a short period of time - up to 2 years. This is due to the fact that within a short time market value the mortgaged car will not change much and in case of problems with the repayment of the loan, it will be possible to sell it and pay off the debt, including penalties.
To obtain a loan on favorable terms, the lender requires the borrower to pay an initial installment - at least 50% of the cost vehicle. This condition is similar to the previous one. Given that the loan term is short, it is easier for the client to repay a small amount of the loan, and the risks of the lender are reduced.

The income of the lender is formed in such cases at the expense of additional commissions, which are indirectly paid by the buyer of the car. Typically, car loans from 0 percent provide for high insurance rates, plus the car dealership often overstates the cost of the car. Everything is due to the fact that the remuneration of the bank or other creditor is already included in the insurance payment or in the price of the car. So sometimes it can be even more profitable to take a simple loan than to apply for a preferential one.

There is one more point that a potential client who wants to get a car on credit without interest needs to pay attention to - the presence of additional commissions for servicing the contract. Very often, banks set a monthly commission for interest-free loans, which more than covers the interest fee.

Also popular is the scheme for assigning debt to a partner bank by a car dealership. In this case, the dealer draws up a car for the buyer on an interest-free installment plan with the subsequent sale of the debt to the bank. The latter redeems the debt of the client not by actual cost, but with a discount, which forms the profit of a financial institution.

However, it should be noted that car loans with a zero rate are not always unprofitable. Sometimes this marketing ploy is resorted to to speed up the sale of slow-moving car modifications. Thus, the dealership increases its turnover and makes room for new, more attractive cars.

Arranging an interest-free car loan

You can usually find an offer for a loan with a zero rate on the website of a car dealership or in advertising booklets. This is how they attract potential customers.

Actually, the car loan is issued according to the standard scheme. The buyer must provide a complete package of documents so that the lender decides on an installment plan or a loan. It can be minimal or include documentary evidence of employment and income. In addition, the borrower must meet the requirements credit program and have no arrears.

What cars can you get an interest-free loan for?

Not every car can get an interest-free loan. Preferential terms are usually offered:

on slow and unpopular models;
at the end of the year, when the car dealership needs to renew its stock, and for this it is necessary to sell the existing cars;
on not quite high-quality cars that have proven themselves poorly in the market;
on very expensive versions of cars that are problematic to sell for cash.

It should be noted that you can get an interest-free loan in car dealerships and banks only for new cars. Regarding the purchase of a used car in installments, sometimes such offers are found among resellers. They are ready to wait for the full payment of the cost of the car for several months, if only the goods do not stay for a long time.

Where and how can I get an interest-free car loan

You can get a car loan:

At a car dealership. Usually, managers, having seen a potential buyer, immediately offer to get acquainted with favorable lending conditions - both banks and a car dealership. Given that one car dealership can cooperate with several financial institutions at once, the client is given a choice. By the way, very often the automaker provides an opportunity to get an interest-free loan through a car dealership. In this way, it increases demand and increases availability for its vehicles.
In the bank. Here, a potential buyer will be offered to use only lending programs of one financial institution. But not always among them there will be an interest-free loan. You need to look for a similar program from partner banks of the car dealership.
From a private person. This option is for buying a used car. You can meet an ad for the sale of a car in installments on specialized sites.

Interest-free car loan at the bank

not many financial institutions have in their assets interest-free car loans. This is due to high risks of non-repayment of the loan, as well as complex schemes for calculating commissions and the need to enter into partnership agreements. Most often preferential terms can be found among banks that specialize in car loans and have no other lending programs in their assets.

Below is a list of banks and their conditions for an interest-free car loan:

Name of the bank*	An initial fee, %	Term, months	Loan amount, rub.	Bank website
Rusfinance	from 10	24	50 000 - 6 500 000	https://www.rusfinancebank.ru

Genbank	50	from 12 to 30	100 000 - 3 000 000	https://www.genbank.ru

*The information is relevant at the beginning of 2019, so check it on the official websites of banks.

To get a loan for favorable conditions, the borrower must enter into an agreement personal insurance, as well as purchase a CASCO policy. Wherein Insurance Company must be accredited by the lending bank.

Conditions of a car loan from the manufacturer

Often, automakers, so that their products do not stagnate in car dealerships, give potential customers the opportunity to receive installments at 0 percent from the dealer. Thanks to this marketing move, buying a car becomes more accessible to a wider range of people, which means it is accelerating and growing. money turnover between factory and dealer. Given that automakers are interested in selling their vehicles as soon as possible, a potential buyer who has already decided on a car brand should look for a similar financing program in his official dealer.

In addition to active cooperation with car dealerships, large automakers also create their own specialized banks, they are also called captive. The following similar financial institutions operate on the territory of the Russian Federation:

"BMW Bank";
"Mercedes-Benz Bank Rus";
"Volkswagen Bank Rus";
Toyota Bank.

However, among existing programs there are no such banks where the rate is set at zero. For example, Volkswagen Bank Rus issues loans at 8.9% per annum, Mercedes-Benz Bank Rus - from 10.8% per annum.

List of car brands for which you can take a car loan from the manufacturer

Given the presence of the above banks in the Russian Federation, potential buyers can purchase cars of the same brands (BMW, Toyota, Lexus, Mercedes-Benz, Volkswagen, etc.). In addition, domestic vehicle manufacturers, such as AvtoVAZ (LADA brand), are active participants in the car loan market. You can find out on what conditions it is possible to obtain financing and which banks it cooperates with at site.

It should be noted that almost every major automaker has its own financial company(not necessarily a bank), whose task is to make buying cars more affordable with the help of a loan. Usually the name of the company is the same as the name of the manufacturer - for example, Porsche Finance.

In the showroom

Installments at 0 percent per annum in car dealerships are most realistic to get. Standard financing conditions provide:

Initial payment from 40-50%.
Loan term from 12 to 36 months.
CASCO insurance.
The maximum amount depends on the brand of the car and the financial capabilities of the car dealership. Thus, MAS MOTORS is ready to issue an installment plan for up to 1 million rubles.

From private individuals

Individuals can apply for installments only on used cars. The terms of the transaction usually provide for a large down payment, from 50% of the cost of the vehicle, as well as a short payment breakdown period - for six months, a year, rarely for more. But the advantage of cooperation with individuals is the absence of the requirement to buy a CASCO policy.

Finally

Greater competition in the car loan market contributes to lower interest rates, which makes the conditions for buying a car more affordable. You can get financing for the purchase of a car directly from banks, car dealerships, from automakers and from individuals. But, unfortunately, to meet lending programs with zero interest rate not so easy. This is due to the high risks that lenders bear today. In order to reduce the likelihood of a loss from the transaction, they establish more stringent lending conditions:

a large down payment - from 40%;
short-term nature of the transaction - 12-36 months;
obligatory registration of a CASCO policy.

But it should be noted that under interest-free programs, financial institutions earn on commissions and agency fee. In other words, the interest that the client would pay on the loan, the bank receives from an insurance company or a car dealership. And they, in turn, add them to the cost of the CASCO policy or include them in the price of the car.

To date, very few banks (Rusfinance, Genbank) provide interest-free loans for the purchase of cars. They are only available for affiliate programs with car dealerships and apply only to certain car models.

Automakers offer preferential credit terms to make buying their cars more affordable. Thus, they increase sales volumes, receive more revenue. But, unfortunately, among automakers, it is rare to find loans at a zero rate, although the majority of programs have reduced rates.

Real installment with a zero rate is found in car dealerships, as well as among individuals. The first option is suitable for buying new cars, the second - for used ones.

As a conclusion, it should be noted that buying a car with a zero rate makes it more affordable for the client. As for the overpayment on such a car loan, the calculations should take into account all the payments that the borrower is obliged to bear during the service. Thus, you can roughly estimate the real cost of an interest-free loan in order to compare with other financing conditions.