Auto loan with state support. Is it possible to get a car loan without Casco Here are some of them

There are four requirements for vehicles that can be purchased through preferential car loans.

Maximum cost. It cannot exceed 1,500,000 rubles.

Gross vehicle weight. Cannot be more than 3.5 tons.

Date of manufacture. Vehicles manufactured in 2017 and 2018 are subject to the state-supported car loan program in 2018.

The vehicle must not be registered. Its previous possession by an individual is also prohibited. That is, buying a used car under this program will not work.

Are there any requirements for a borrower who can use state support?

There are no restrictions on the borrower directly in the decree of the government of the Russian Federation on subsidizing car loans. Therefore, all requirements are set by banks. Thus, at least three standard requirements can be distinguished.

Citizenship of the Russian Federation.

The minimum age of the borrower. In most cases, it is set at the level of 21 years. For example, it is used in VTB, Loko-Bank, Svyaz-Bank, UniCreditBank, etc. In rare cases, the requirement may be adjusted. Often in the direction of increase. For example, in Rusfinance Bank, the minimum age of a client is 23 years.

Official employment. It is not always necessary to confirm the level of income, but the borrower must be officially employed.

All other conditions, for example, on the minimum income, region of registration, actual residence, work, etc., are established solely at the sole discretion of the banks.

How profitable is such a car loan?

A decree of the Russian government in 2017 determined a clear level of interest rate limits that can be applied by banks for car loans issued in 2018 under the program in question. They cannot exceed 17% per annum.

Thus, having data on the loan amount of interest, its term and the exact interest rate, it is possible to calculate in detail in monetary terms the final benefit of obtaining a car loan.

For example, the maximum allowable loan amount is 1,500,000 rubles for 60 months. For the calculation, we use the highest possible rate for state subsidies - 17.0% per annum. The limit values ​​for the full cost of a loan for new cars under simple programs for the 2nd quarter of 2018 are about 18.5% per annum. In the first case, the overpayment will be about 736,732 rubles. In the second - 809,959 rubles. The total benefit will be approximately 73,227 rubles. Or 9%.

Car loans do not belong to the profitable side of the business of financial institutions. The car can be stolen, broken beyond repair, drowned, burned.

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Capital damage to property leads to the fact that the borrower refuses to repay the loan, arguing that there is no car - there are no obligations to the bank.

This leads to unprofitability of car loans, because there is nothing to confiscate to pay off the debt - the vehicle pledged is illiquid.

To minimize the risks, banks issue a loan to buy a car only on the condition of CASCO insurance, which covers the lender's losses in case of any accident that happened to the car.

But buying a policy increases the borrower's costs by an average of 50 thousand rubles annually. Therefore, how to get a car loan without CASCO and collateral is a hot topic for many drivers.

Is it possible

On July 1, 2019, a new official instruction of the Central Bank came into force. It says that the borrower has the right to purchase a car on credit without issuing a CASCO policy.

If the insurance was purchased, then within 5 days from the date of drawing up the contract, the borrower can refuse the service and return the funds paid. These instructions allow you to purchase a car without issuing an expensive CASCO.

In practice, things are different. Yes, lenders are well aware of the penalties for failing to provide a car loan. But the “imposition” of insurance turned into a tempting offer. Want to get a loan on favorable terms?

Come with a CASCO policy! No insurance - no credit, and if there is, then the rate will be increased by several percent. And there is a reasonable explanation for this - banks in this way minimize the risks associated with non-payment of the loan.

Which banks give a car loan without CASCO

Despite the requirement of the Central Bank to issue loans for the purchase of a car without a CASCO policy, many banks continue to put forward their conditions to borrowers:

• in 2019, Sberbank temporarily stopped issuing a loan to buy a car. The main focus in the country's largest bank is on mortgage and consumer lending;
• in Gazprom, the second most popular bank, it is possible only with CASCO car insurance;
• a large bank "VTB24" draws up a loan, but in the amount of not more than 1 million rubles;

The annual interest rate under the AutoExpress program is 26%. But one of the advantages is the possibility of issuing only 2 documents.

• the financial organization Rosbank is ready to provide a loan for a large amount - up to 3 million rubles. But the borrower will have to pay 50% of the cost of the car as a down payment and annually give the bank almost 30% of the loan balance;
• Raiffeisen Bank has created several programs for car loans. For example, to buy a foreign new SUV, you will have to apply for CASCO, but only for 1 year. The interest rate is about 23%, the loan term is up to 3 years, the initial payment is 25%;
• it is profitable to lend to the purchase of a car in Alfa-Bank. The initial payment is 10%, the term is up to 5 years. Interest rate - 29%. Among the shortcomings - a large number of documents are required for registration.

The table shows the most reliable banks with advantageous offers to lend a car without CASCO:

For a new car

When buying a new car, CASCO is offered at a car dealership.

There are many benefits of taking out insurance:

• the possibility of compensating expenses in the event of an accident due to one's own fault (virtually for any reason);
• coverage of repair costs in case of damage to the car by third parties;
• lower interest rates and down payments on car loans.

But due to the high cost of insurance, quite a few car owners are willing to buy a CASCO policy. A particularly negative attitude towards voluntary insurance arises when buying a new, expensive car.

You can refuse additional services, even when applying for a loan under the state program.

When applying for a car loan under the state program without CASCO, you can count on a reduction in the interest rate to 8-11% per annum.

The subsidy is available for the purchase of a vehicle that meets the following requirements:

• Russian assembly;
• cost no more than 750,000 rubles;
• the mass of the vehicle is not more than 3.5 tons;
• operation - no more than 1 year;
• the amount of the down payment will be 15% or more;
• loan term - up to 3 years.

To take part in the state program, you must contact a bank accredited for this type of loan.

These include the following financial companies:

• Sberbank;
• Rosbank;
• Bank of Moscow;
• VTB 24;
• Unicredit;
• Russian Agricultural Bank.

In total, about 90 banks work with the state program in Russia.

As for the interest rate, the table shows the ratio of car loans under the regular program and in the case of using a subsidy:

For used cars

Crediting of used cars is possible only if their service life is no more than 5 years for foreign cars and 3 years for domestic cars.

If the selected machine meets this criterion, then you should contact the banking organization. CASCO insurance is not mandatory, but the car will be used as collateral.

You can increase the chances of approval of the application by attracting guarantors, or by pledging other property.

If the bank claims otherwise, then it is necessary to contact the hotline with the main office of the Central Bank and file a complaint.

You can buy a used car without CASCO in another way: by issuing a consumer loan. Getting a cash loan isn't much easier, but general purpose loans don't require you to buy insurance.

This method gives one more advantage - the car is owned, which gives the right to dispose of it at one's own discretion (sell, donate, etc.).

Design features

A car loan is issued in two ways: at a car dealership and at a bank:

• at a car dealership. In every major car dealership there is an opportunity to get a loan for a car. Managers are interested in selling cars, so applications are processed quickly, it takes several hours to review. Each car dealership cooperates with several credit institutions, the buyer has a choice, albeit limited. The advantages of obtaining a loan at a car dealership include the speed and ease of obtaining a loan. The disadvantages are high interest rates. Often, buyers are denied an application if they do not want to buy a CASCO policy.
• in the bank. The procedure for applying for a loan is complicated, but the loan is provided on more loyal terms and with the possibility of waiving CASCO. The disadvantages include a long consideration of the application, a large number of required documents.

Without CASCO, a loan is issued on general terms. Only the bank does not require you to pre-purchase the policy or do it at the time of signing the contract.

No down payment

Sometimes human desires outstrip possibilities. Therefore, an ideal loan should be issued with a minimum package of documents, at low interest rates, without insurance and a down payment.

Unfortunately, banks do not take such risks and, having refused insurance services, they will have to pay for it with higher interest rates and an increased down payment.

Therefore, it is almost impossible to get a loan without paying a certain amount, which is, on average, about 20%. The only option is to get a loan in the form of cash or a credit card.

According to two documents

To apply for a loan, you will need to prepare a package of documents:

• passport;
• a certified copy of the work book;
• income statement;
• SNILS;
• driver's license (or any other document);
• military ID.

This is a standard set of documents that a bank requires for issuing a targeted loan. After receiving a loan and registration of ownership of the car, the borrower must bring the title to the bank.

A more modest package of documents is required for express loans, which are available at car dealerships.

The application will require only two documents: a passport and, for example, a driver's license or a VHI policy. This service is not available in all banks.

Here are some of them:

• VTB 24;
• Rosbank;
• Bank of Moscow.

It is worth noting that the loan will also become available at Sberbank under two documents, provided that the employer transfers monthly wages to an account with this bank.

How to calculate online

• car cost;
• the size of the down payment;
• credit term;
• interest rate.

Let's take averages as an example:

The fee will be 0.5% per month, annuity type of payment, the beginning of the billing period: October 2019.

We get:

If you issue CASCO, then annually the car owner will have to pay approximately the following amounts:

Refinancing

The car owner has the opportunity to refinance a car loan without CASCO and life insurance. To do this, he needs to contact the bank where the loan was issued or to another banking institution and leave an application, providing a package of required documents.

Several hours or days are allotted for consideration of the application (depending on the method of checking potential borrowers).

Refinancing makes it possible to remove the encumbrance from the car (if it does not act as collateral for a new loan), reduce the overpayment, the amount of monthly installments and / or increase the loan term.

Before contacting the bank, you should familiarize yourself with the terms in the contract. Sometimes banks provide penalties for early repayment of the loan. If this item is not specified in the contract, then you can prepare documents for refinancing.

Refinancing is carried out in two ways:

• car loans on other terms;
• getting a consumer loan.

In the first case, the borrower draws up a car loan at another bank, on more favorable terms. In this case, the organization will impose a number of requirements on the car, since it will become collateral. For example, his age should not exceed 5 years.

A consumer loan is issued much faster and easier. Almost every bank has a refinancing program.

And the main condition is the conscientious repayment of debt over the past 6 or 12 months. If the borrower has delays, the bank will refuse to refinance.

You can get a car loan without CASCO in almost any bank. But the refusal of insurance leads to a deterioration in lending conditions: an increase in the interest rate, the size of the down payment, and a decrease in the loan term.

Currently, there are a large number of various lending programs on the market for car loans with different conditions for borrowers. One of the requirements for providing a car loan is the purchase of a CASCO policy. A certain part of the borrowers believe that by agreeing to the purchase of this insurance, they will spend more money on repaying the loan and that this condition in the contract is unnecessary.

Cons when buying a car without a CASCO policy

• an increase in the down payment on the loan;
• the loan is issued with a higher interest rate;
• the loan term is reduced;
• the amount of the monthly payment increases.

Due to such requirements, the credit institution independently insures itself against increased risks in case of non-repayment of the loan. When buying a car on a CASCO loan, it is not necessary, the borrower will always be able to choose a program without CASCO registration, but it should be understood how this will affect the amount of his subsequent payments.

Benefits of a car loan without CASCO:

• partially reduced additional costs when applying for a loan;
• the funds provided for when applying for CASCO can be made as an initial contribution;
• the possibility of early repayment of the loan;
• You can insure your vehicle at any time.

When buying a vehicle with a CASCO policy, the bank, upon the occurrence of an insured event, receives payments from the insurance company, which are provided for by the contract. If there is no such insurance, then, based on the foregoing, the credit institution will be able to compensate for its expenses at the expense of higher interest on the loan. However, the borrower's responsibility for paying the loan is not removed if he damaged the car in an accident or it was stolen, and he does not have a CASCO policy.

Consequently, all potential risks are still shifted to the car owner. If the motorist nevertheless decided to get a loan without comprehensive auto insurance, then he needs to contact the appropriate banks.

Which banks give a car loan without CASCO?

The choice of a credit institution for obtaining a car loan without CASCO is limited to those banks that are represented in a particular region of residence of a potential borrower. Most often, large banks with a federal network across the country, such as:

• VTB 24,
• Rosbank,
• Alfa-bank (except Moscow),
• Rusfinance Bank,
• Sobinbank,
• Vanguard,
• Credit Europe Bank

and others offer lending programs without purchasing a CASCO policy. You should also pay attention to the fact that the conditions in such programs often change as well as interest rates. The relevance of information must be checked on the official websites of banks.

Many well-known banks provide car loans without CASCO also for used cars. The list of such creditors is headed by Soviet Bank, Home Credit Bank, Renaissance Credit, Rusfinance Bank, Europlan and others.

As practice shows, a car loan without a CASCO policy is still more expensive than a loan with insurance. For example, interest rates for a regular loan program without a policy are 8-12 points higher than for a standard program with CASCO insurance. However, the choice and the last word remains with the borrower.

A new car is an expensive purchase, so a citizen often turns to a bank for help. By lending funds to the borrower, the credit structure bears certain risks, which forces the lender to require registration of the car as collateral.

By applying for a loan without CASCO, you can save on additional costs, but it is quite difficult to get it on favorable terms.

Is it possible to get a car loan without CASCO

Voluntary insurance is designed to provide full-fledged financial protection, first of all, to the creditor, since in case of problems with debt repayment, the organization will be able to sell vehicles and close the credit line without loss with the proceeds. If the vehicle gets into an accident during operation, receives other damages, the insurance coverage will minimize losses from the depreciation of the car. Thus, the lender has a direct interest in the availability of the policy.

On the other hand, the policy seriously increases the costs of the motorist, who is already forced to pay the debt to the financial structure on a monthly basis. In this regard, the question arises of how to get a car loan without CASCO, thereby reducing the financial burden of the borrower by an average of 50 thousand rubles.

In response to complaints from motorists, in 2017 the Central Bank published new clarifications regarding the rules for car loans and the right of a citizen to refuse a policy when applying for a loan immediately, or within 5 days after the conclusion of a loan agreement.

By insisting on buying a policy, a Russian financial institution is actually breaking the law.

As a result, the programs have been adjusted by organizations that try to impose insurance using other tactics:

1. The new rules led to a temporary waiver of car loans at Sberbank and the expansion of mortgage and consumer loans programs.
2. Gazprombank still issues car loans only when the driver purchases this agreement.
3. In VTB24, you can buy a car on credit only if it costs up to 1 million rubles.
4. In Rosbank, you can buy a more expensive car worth up to 3 million rubles. However, new conditions arise - the loan installment will be at least half of the price of the car. The rest is issued for a short period of time.
5. Raiffeisenbank has several offers at once, however, a car loan without CASCO does not cover all categories of cars. To buy an imported SUV, you will have to take out annual insurance. Comprehensive insurance can be waived from the second year of lending.

Due to the high price of the policy, few borrowers are satisfied with the need for additional insurance costs, especially if a car loan is issued without CASCO for a new expensive car.

Governmental support

Special state programs are called upon to promote the development of the Russian automotive market, and even in this case, comprehensive insurance is not necessary.

If you buy a car under the state program without insurance, the percentage will remain below the average current rates.

Purchasing vehicles under the state program allows you to get a loan for a used car or a brand new car without obtaining a CASCO. The vehicle itself must meet several criteria:

• a car of a domestic brand or assembly;
• price up to 750 thousand rubles;
• a car weighing 3.5 tons;
• age - not more than a year.

State support involves quick repayment of the loan - within 3 years, the first installment is from 15 percent.

Conditions for granting such a loan

It would seem that the overpayment on a car loan should become less, but the situation looks different: despite the Central Bank's instruction on the right of the borrower to refuse voluntary insurance, lenders do not miss their benefit. If insurance is not issued, the borrower may face the fact that the car loan will not be as profitable. More often than not, this is offset by the following factors:

1. Rate increase.
2. Stricter requirements for solvency and credit history.
3. Short repayment period.
4. Small loan amounts.
5. Increase in down payment.
6. Charging additional fees.
7. Restriction of the possibility of choosing a car among partner car dealerships.

Due to the high risk of losing a car, a credit institution needs to take measures to protect its funds, therefore car loans without CASCO have a shorter loan term and a higher rate.

For the lender, it is necessary to prepare the following documents for consideration of buying a car without CASCO for borrowed funds:

• civil passport of the client.
• application form.
• driving license (if issued).
• document on employment and duration of work in the last place (copy of labor);
• a document on labor earnings (2-NDFL issued by the accounting department) or other income.

As additional documents, you may need a military ID, a document of title to the client's property, which is issued as collateral.

Sometimes, based on a small official salary, a financial institution is ready to give out only a small amount to the borrower. It is possible to increase lending if you provide the bank with additional guarantees in the form of guarantors, whose solvency and responsibility will not arouse suspicion in the lender.

How to get a car loan without CASCO

Acting in a certain sequence, each motorist can apply for a car loan for a used or new car, without additional voluntary insurance:

1. The choice of model and brand of car. Already in the process of selecting a vehicle in the salon, you should find out with which financial institutions the seller works, and under what conditions you can take a car on credit.
2. Next, you need to choose a credit institution that issues a loan without CASCO on optimal conditions. By working with an online calculator for several lenders, you can pre-calculate what will be the monthly payment, rate, loan limit. Based on the information collected, a decision is made.
3. Preliminary application can be made by visiting the bank office in person, or by sending an online application. It is recommended to send requests for a loan without CASCO to several financial institutions.
4. The response received by the borrower is only preliminary. To obtain a final decision, a thorough collection of documents and submission of them along with the main application will be required. The bank, considering applications for car loans without a CASCO policy, will present standard requirements for the client in terms of age, citizenship and registration, but it will be especially important for it to study the history of repayment of previous loans. When agreeing on a loan, the rule applies that the absence of a credit history in general gives less chances for a loan without CASCO than the presence of at least some kind of credit history.
5. Then a contract is concluded for the purchase of a car with or without mileage. If the salon cooperates with the bank, this will greatly facilitate the process of signing the bill of sale. You can complete the purchase procedure and sign the loan agreement in one day. Otherwise, you will need to contact the office to conclude an agreement.
6. On the day of registration of credit obligations, it is necessary to carefully study the form offered by the bank, check all the items, including those printed in small print, carefully compare the information entered about yourself. The following points should be especially well studied: the real interest on the loan, commissions and their amount, the method of calculating and making payments, as well as early termination of the contract. If the car was bought to work in a taxi, they check for the possibility of registering the vehicle for the borrower.
7. After the conclusion of the loan agreement to the seller's account, the bank transfers the down payment received from the buyer's personal funds, and also makes the final settlement with the previous owner.

Which banks can issue a loan without CASCO

A simple comparison of car loan programs will allow you to instantly identify how lending without comprehensive voluntary insurance is not welcomed by banks.

The results of calculations obtained using online car loan calculators of Russian financial institutions show how much the interest on the loan increases, and hence the overpayment.

Finding the best offer is also difficult, because not all banks are ready to risk their funds by lending significant amounts to customers with minimal collateral. The car itself is a means of increased danger, and the vehicle after an accident will never be able to restore the original value of the vehicle.

For example, VTB24 offers more than 20 different programs for buying a car, but without voluntary insurance, only 2 types of loans "Freedom of Choice" and "AutoExpress" are issued. If the standard conditions of "Freedom of Choice" allow you to purchase a foreign car at 11.9% per annum, then without CASCO insurance coverage, funds will be issued at 13.9%.

The calculation of the overpayment by VTB24 shows that the difference in the overpayment for 3 years, subject to the purchase of a car for 1 million rubles and the first installment of 300 thousand rubles, will be about 30 thousand rubles. The borrower independently determines how much the purchase of a policy for 3 years is in demand with such an overpayment. However, in other financial institutions the situation may be completely different, so you need to proceed from the specific proposals that exist at the moment.

The following credit organizations offer the most interesting car loan offers for used cars and new ones from a dealership.

These proposals are interesting because the funds can be repaid to the bank in equal payments over 5 years, while most of the credit institutions would reduce the term to the minimum. The exception is Unicredit Bank - there the credit line will be valid for 7 years.

Until quite recently, it seemed impossible to get a used car on credit without CASCO, but now citizens have the right to choose the most optimal of the current offers. To find out if it is possible to get a loan from a particular financial institution, it is necessary to clarify the information directly at the time of preparation for the purchase, since the situation on the lending market changes quite often.

Become more and more popular with the people. Still, there is a great opportunity to become the owner of a good car, bypassing the stage of accumulating the required amount. And as the practice of banks shows, the number of potential car owners at the moment could be greater, but many are stopped by car insurance.

How to get a loan for a car without CASCO?

And many are concerned about this question: is it possible to get car loans without CASCO. The easiest way is to buy a used car on credit that is older than five years for domestic models and older than seven years for foreign cars.

It is also possible to apply for a car loan without CASCO at. First of all, this is the execution of a regular consumer loan without specifying the purpose of the loan. Plus, you can choose any car dealership and any car to your liking. Minus the increased rate on the loan.

Also, some banks meet the needs of the client and do not require CASCO insurance when buying a car on credit. Thus, banks in a competitive environment are trying to increase the number of their customers. The only thing that the latter in this case is required to provide a complete package of documents. The plus is that you do not spend money on CASCO, the minus is the increased rate and the high amount of the first installment (up to 40% of the cost).

To find a suitable loan on the site, the site can be as follows:

1. Choose the term and amount.
2. Explore the options
3. Send to the selected bank.