Close Menu
  • News
  • Economy
  • Internet
  • Real estate
  • Investment
  • Jobs
  • Society

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

New idea for English theatre-goers: giving away unsold tickets

April 13, 2025

Drip pricing and fake reviews to be banned in UK

April 13, 2025

British scientists have discovered a new way to limit alcohol

April 13, 2025
Facebook X (Twitter) Instagram
EverEngland – latest news, economy, real estate
  • News
  • Economy
  • Internet
  • Real estate
  • Investment
  • Jobs
  • Society
EverEngland – latest news, economy, real estate
Home»Economy»How to buy a car on credit

How to buy a car on credit

May 21, 2018

I wanted to buy a car? After reading the reviews about the Sky Motors car dealership (Sky Motors) went to a car dealership or to the car market and bought. And if there is not enough finance? According to statistics, every third car on the road was bought on credit. The benefits of the service are great – only the lazy does not buy a car for himself. Whether it is new or used. Banks go to this deal with great hunting, even in a crisis, offering favorable conditions for acquiring a car.

What steps should a potential car owner take to turn into a real?

First, evaluate your financial capabilities. Payments must be held on a monthly basis and will eat a certain share of the family budget for a long time. Typically, car loan is taken for a period of 3 to 5 years. Most credit organizations involve the initial contribution of 10% of the cost of acquisition. It should be remembered that the vehicle must be insured under an OSAGO agreement, and for reliability and under the CASCO agreement. Insurance is poured into a round amount. It can be included in the loan agreement, but only for one year. This will significantly increase the full cost of the loan. In subsequent years – you have to pay for it yourself. Better to be prepared for this in advance.

The next stage is the most pleasant. The choice of the vehicle. Often the loan is issued directly in the organization of the seller. There is also a purchase and insure.

There are two ways to purchase a car on credit:

Get a cash loan and purchase a car for the money received. Interest rate on such a loan is always higher. But the owner can dispose of the transport, at his discretion, since all the documents for the car remain in his hands;

get a car loan where the car is a bail for a loan. Car sellers, different models almost always include additional bonuses when buying on credit (trad-in, disposal, pay interest on loan, additional benefits when buying). Banks reduce the interest rate and willingly go to this deal. The car remains in pledge with a credit institution.

The second option is more economically profitable. And upon the occurrence of circumstances that do not allow timely serving a credit product, an organization can be sold by a vehicle that specializes in the purchase of credit cars. Such organizations take on all legal and financial issues. Fully calculated with the bank. It is important to choose an organization that has established itself in the market so as not to fall into the hands of scammers.

Consider a typical set of documents that must be provided to the credit company. Questionnaire questionnaire. The passport of the borrower. The second identification document (driver’s license, foreign passport). If the client is in marriage, then the certificate of marriage and the consent of the spouse to receive a car loan. Military ID (if any). A copy of the work book certified by the employer (it is valid for no more than 30 days). Income certificate: ideally in the form of 2ndfl, a certificate in the form of a bank is allowed – income is indicated over the past 6 months. It is possible to take into account the total income of the spouses. Which sharply increases the chances of approval.

The information provided is checked within a few days. After approval, the borrower makes an initial contribution to the cashier. Signs a contract of sale and becomes the owner of an iron horse. The car is insured, registered with the traffic police. The bank has the right to demand copies of insurance contracts and srts. After the owner submits to the TCP bank and takes it after paying the last fee.

Auto news

Share. Facebook Twitter Pinterest LinkedIn Telegram Email Copy Link

Related Posts

Britain may involve navy in escorting coal shipments

April 13, 2025

Most Britons want to continue trading with the EU

April 13, 2025

The UK economy grew unexpectedly in February

April 13, 2025
Top Posts

Makeup trends 2012

January 13, 2025

Neil-art trends

January 13, 2025

Fresh spy photos of updated Land Rover Discovery

December 13, 2024

Rolls-Royce Silver Ghost 1906–1926

February 11, 2019
Don't Miss

New idea for English theatre-goers: giving away unsold tickets

April 13, 2025

London is about to start giving away unsold theatre tickets to those who can’t afford…

Drip pricing and fake reviews to be banned in UK

April 13, 2025

British scientists have discovered a new way to limit alcohol

April 13, 2025

How much do Britons pay for utilities?

April 13, 2025
  • News
  • Economy
  • Internet
  • Real estate
  • Investment
  • Jobs
  • Society
© 2017-2025 - EverEngland News. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.