Car loans or consumer loans: which is more profitable? Which loan to choose: reviews
According to statistical data, the average costmachines in Russia reaches 800 000 p. It is worth emphasizing that this figure may vary depending on the region, for example, in Primorye this amount can reach a figure of one and a half million rubles. At first glance, it is clear that such money can not be made to a common man in the street even for a year. As always, credit organizations come to the rescue. Often, the population asks the question: "Car loans or consumer loans, which is more profitable?". In order to emphasize in favor of one or another type of lending, it is necessary to identify the positive and negative aspects of a car loan and an unearmarked loan.
Car loans: pros and cons
- Possibility of registration of the credit in a motor show. Having available a small amount of money for the first installment of the loan, you can apply without leaving the showroom.
- A wide program of car loans. Almost all banks provide loan servicesfor the purchase of an "iron horse". Due to the fact that when the loan is issued, the bank will automatically secure itself with the availability of collateral, the decision to approve the loan is much more frequent than the decisions on the consumer loan.
- Low interest rate. In contrast to consumer loans, wherethe average interest on the loan is 20%, car loans in this plan are at the interest rate for mortgages - 11-12% per annum. The announcement by General Motors earlier this year about the departure of the American manufacturer from the Russian car industry, because of the declining demand of the population for the products, made it possible for developers of other cars to offer profitable offers to consumers: an unusually low interest on the loan - 5-6% or their absence at all. Although the economic situation in the country for this period wants the best, this time is the best for a profitable purchase of a car. Of course, with the question: "Car loans or consumer loans - which is better?" No doubt, the loan aimed at buying a car in this plan wins.
- The impossibility of selling a car to third parties. With a car loan, banks always take yourbought car, and the PT remains in the bank until the day the loan is repaid. In the event that a loan is not paid by you, the credit organization takes the car into its ownership. But here you can go for some trick, if you do not have the necessary financial resources to make a monthly payment and you are left with "bare pockets". To do this, you need to go to the traffic police, write a statement about the loss of the vehicle and after a while you will receive it. Now you can sell the car and pay the loan. But all these actions are illegal!
- Compulsory CASCO insurance. When registering a car loan, all banks obligatorily impose CASCO insurance services on the buyers, whether you like it or not. This rather does in favor of banks, in order to protect themselves.
Consumer credit: the pros and cons
- Use of funds at your discretion. Due to the non-targeted loan being issued,the possibility of buying a used car with a lower cost, in contrast to a car loan, where the funds are issued only for the purchase of new cars, with a rare exception, second-hand.
- Full disposal of your car. Of course, this is an undoubted advantage in the design of this type of loan. You can sell, change, pledge your "friend" without crossing the line of law.
- Ability to refuse to receive a loan. Not all banks are ready to give you their blood, ifthere is no collateral or surety. In this regard, car loans or consumer loans - which is more profitable? Of course, the target purchase of a car from the means of the bank.
- Significant interest rates. In practice, the rates for consumer loans are always higher than for car loans.
Car loan or consumer credit: reviews
As the reviews show, the majority of Russianof the population prefers to use a car loan, emphasizing their attention to the fact that this type of lending is more simple in obtaining, without unnecessary "hassle", and reconciles with the fact that the PTA remains in pledge with the bank.
But there are also those who oppose categorically,guided by the fact that when buying a car for consumer loans, people have the opportunity to use it at their own discretion: to sell, change, give and so on.
Car loans or consumer loans - which is better? 2014 as an indicator of financial instability
The introduction of sanctions, a drop in the price of oil,caused the instability of the ruble exchange rate. In this regard, most banks throughout Russia have tightened the terms of purchasing consumer credit, making it virtually impossible to obtain a population with a small salary. The car loan was practically not affected, except for a slight increase in annual interest rates, and the conditions remained the same.
Sberbank "turns off" car loans
Sberbank is the largest representativestate-owned banks. Almost every family is served in this bank. He also does not avoid car loans. But due to the prevailing circumstances in the country, Sberbank from the end of 2014 refused to car loans and shifted these functions to the subsidiary "Sistem Bank." Therefore, the question of what is best to take - a car loan or a consumer loan in Sberbank, remains irrelevant. If you are a regular customer of this bank, you can only rely on consumer loans.
Reviews of the former system of car loans of Sberbank
Often, the forums discussed the issue thatis it better to have a car loan or a consumer loan in Sberbank? The reviews showed that the majority of the population preferred to borrow for a car purchase from this bank, thanks to attractive interest rates, compared to other financial institutions.
What is still better: a car loan or a consumer loan?
Answering the question: Car loans or consumer loans - which is more profitable? ", It will be more correct to leave auto loans in priority, because, firstly, the rates on loans are always significantly lower, secondly, it is almost never required to attract third parties for the loan and the third is the majority of banks offer special bonuses, special programs for car loans.At the time of the crisis, sometimes you can borrow a car on credit at all without overpayment.If you need not to realize your dream - car purchase - very little, it is better to You can use the consumer credit to save on CASCO.