How to get a car loan?
Sometimes we urgently need a certain amount of money. Matter where they take always is very acute. In such cases, the loan is able to salvage the situation. If it is a small amount, the credit institution provides her without bail. If you need quite a lot of money, the Bank would require any guarantees. As collateral can be provided .
Where to get the money to bail the auto?
Auto loans are offered by many banks and Lombards. This procedure is done in a pawnshop in simplified form. Here do not require income certificate and registration information.
Sufficient for processing at a pawn shop loan secured by pledge of car will be a package of documents, consisting of passport of the owner of the machine, all the papers on the vehicle, as well as the pledge itself.
The procedure is as follows: expert pawnshop assesses collateral and makes a conclusion about the amount the creditor may provide to the borrower.
If the amount and timing of the loan you are happy with, the power of Attorney is issued to an employee of the pawnshop and notarized. The borrower shall sign all necessary documents and receives the money. The car is sent to a special parking area and will be there until the full repayment of the loan.
Can I use the car?
Most banks and Pawnshops provides for a car loan with the option of providing the borrower the right to use their own means of transportation. This type of loan is called loan with PTC-passport to technical means.
When applying for a car loan with PTAS get ready to submit additional documents to the borrower:
certificate of registration by place of residence;
additional identification document, such as a driver’s license or passport;
reference from place of work.
Typically, these types of loans are granted only to citizens of the Russian Federation. Lenders also restrict the borrower’s age from 20 to 60 years.
The loan amount and interest rate
The maximum you can get cash up to 85% of the appraised value of the car or up to 50% . The size of the loan is calculated individually based on the State of the car, its year of release, as well as the interest rate.
In various credit organizations have their loan rates: from 4 to 10%. Loan periods ranging from 1 day to 1 month.
What are the requirements for a mortgage?
Almost any vehicle can be provided as collateral. But some pawnshops and banks don’t issue credit under the old cars of domestic manufacture.
Lien also can serve as any other vehicle: motorcycle, special vehicles, boat, Scooter, etc.
How to protect yourself from scams?
The main way to protect against rogue lenders — contacting known organization with extensive experience, positive characteristics and availability of all certifying their activity documentation.
At the conclusion of the contract binding element is the conclusion of Act of acceptance-transfer, stipulating:
mileage;
the technical condition of the vehicle;
-body type and other details.
All these data are documented, and when receiving a car as repayment is effected the reconciliation of all data.
Serious organizations vehicles for the whole period of loan worth protected and insured at the expense of the creditor. A borrower may at any time inspect your car freely.
The lack of necessary documentation, an empty parking lot and sky-high promises should alert you. Don’t believe the tempting offers of loans at 90 or 100% of car cost and lack of interest. Trust only the accredited organization with realistic conditions of crediting.
