Buying a car with a loan is easy, and with a preferential car loan it’s also cheap. The ideal solution when purchasing a car is to take advantage of the state subsidy program for car loans in 2018.

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Since April, the Russian Ministry of Industry and Trade has resumed the preferential car loan program, the previous stage of which ended in 2013. The new 2018 program is valid until December 31.

What does this mean and why is it done?

The state program for subsidizing car loans was launched to support the Russian automobile industry and increase demand for domestic cars.

The federal body responsible for state subsidization of car loans is the Ministry of Industrial Trade of Russia.

The Ministry of Industry and Trade expects to use this program to sell about 200,000 Russian-made vehicles.

The main tasks that are assigned to the car loan subsidy program are:

1. Compensation to the population for interest on loans issued for the purchase of a car.
2. Support for the Russian automotive industry.
3. Stimulation of the automobile sales market in each link of the chain: manufacturer – showroom – financial institution – buyer.

Subsidy mechanism

Subsidies are allocated to banks to compensate for lost income when issuing loans to individuals to purchase a car. The borrower receives a loan on preferential terms (interest rates are reduced), and subsidies are provided directly to the bank.

Subsidy principle

The state budget allocates funds for subsidies that compensate the buyer 2/3 of the key rate, thereby reducing the amount of overpayment.

What are the requirements?

Preferential car loans are a fairly profitable product for the consumer, but there are some restrictions that focus the buyer’s attention on cars from a domestic manufacturer.

Conditions for issuing a car loan:

• loans are issued in national currency, i.e. in rubles;
• car loans are issued to individuals;
• the price of the car should not exceed 1 million rubles;
• the car must be assembled in 2018;
• total vehicle weight – up to 3.5 tons;
• first payment of at least 20% of the cost of the car;
• the loan is issued for the purchase of passenger cars and light non-commercial vehicles only;
• the car must be domestically produced or a foreign car assembled on the territory of the Russian Federation;
• the car has not previously been registered anywhere and has not been registered to an individual;
• the loan duration is three years;
• program period: from April 1, 2018 to December 31, 2018;
• The collateral is the purchased car itself.

What interest rates are subsidized?

The subsidy rate will be adjusted according to the key rate of the Bank of Russia and will be about 2/3 of its value - 9.33 percent. Currently the subsidy rate is 14% per annum.

The amount of state compensation at the rate is two-thirds of the main rate of the Central Bank, namely 9.33% per annum. The maximum rate limit, taking into account the state subsidy for a car borrower, is 14.67% per annum.

List of cars

Banks can independently determine the lists of cars that are subject to car loans with government support.

Domestic cars and cars with a high level of localization in Russia have advantages. Those. those that are assembled as much as possible on the territory of the Russian Federation.

Foreign companies with localized production in the Russian Federation - Renault, Nissan, Datsun and Ford - immediately joined the program.

List of cars that fall under the car loan subsidy program in 2018:

• LADA (all models);
• Chevrolet (Niva, Cruze, Cobalt, Aveo);
• Nissan (Note, Tiida Almera);
• Ford Focus;
• Renault (Duster, Sandero, Logan);
• Daewoo (Nexia, Matiz);
• Skoda (Octavia, Fabia);
• Citroen (C4, C-Elysee);
• Kia (New Rio, Cee'd);
• Hyundai Solaris
• UAZ, ZAZ (all models);
• Opel Astra;
• Bogdan (all models);
• Toyota Corolla;
• Peugeot (408,301);
• Mazda3;
• Volkswagen Polo;
• Mitsubishi Lancer.

Commercial banks are given the right to independently establish car models for which the conditions of the state subsidy program will apply.

When applying for a car loan, you should pay attention to the following aspects:

• the minimum amount of a car loan is set by the bank independently;
• Only term interest on the loan is reimbursed;
• loan interest rate - the difference between the current rate on a car loan of a particular bank and 2/3 of the Central Bank of Russia rate at the time of issuance of money;
• There are no fees for reviewing, issuing or servicing a loan;
• loan currency – rubles;
• prepayment upon registration - 15-20% of the cost of the car;
• The maximum term of the loan agreement is 3 years.

Some banks may require documentary evidence of work experience at the current place, a certificate of additional income, and a certificate of registration.

The fundamental and mandatory requirement of the state subsidy program for car loans in 2018 is the purchase of CASCO and payment of fees. Therefore, the car buyer should plan for these expenses in advance.

Banks ready to provide preferential car loans

In each individual bank, the conditions for preferential lending differ significantly from each other.

Some financial institutions are subsidizing car loans in 2018 up to 700 thousand rubles, while for others this level reaches a maximum of 1 million rubles. The data in the table below will help you get acquainted with the terms of lending in some banks

Regarding the special conditions in banks that provide state subsidies for car loans in 2018, Sberbank, unlike many, does not charge any commissions and offers its clients to attract another borrower (for an appropriate fee):

*Reduced by subsidizing by 2/3 of the key rate.

The official website of the Ministry of Industrial Trade has published a list of banks ready to take part in the state subsidy program for car loans in 2018. Sberbank is one of the 84 registered banks.

Other most famous institutions:

• Cetelem Bank (Sberbank group);
• Raiffeisenbank (CJSC);
• VTB 24;
• "Moscow Credit Bank";
• AvtoVAZbank;
• Zenit Bank;
• "Saint Petersburg";
• Rossiya Bank;

Pros and cons

Analysts are confident that government subsidies for car loans in 2018 will help increase the number of jobs in the auto industry, increase Russians’ interest in domestic cars, and financial institutions will be able to provide loans to the population to purchase cars on favorable and preferential terms.

But, despite all the benefits in 2018, car loans are a very unpopular product. At the beginning of 2018, 49% of cars were purchased on credit terms, and by the end of the year this figure decreased by 7%. According to Alexey Volkov, Marketing Director

National Credit History Bureau, in order to restore sales volumes to the 2018 level, in addition to state lending support, a global economic revival is required and preventing a fall in citizens’ incomes.

Practical advice for borrowers:

1. Do not forget about the main parameters of the state program (year of manufacture of the car, price, weight). They are unchanged in any bank.
2. Study the list of cars offered by the selected bank. Loans are not issued for all brands of cars. For unknown reasons, some Chinese cars were discriminated against. Some large banks refuse to provide loans for their purchase.
3. Carefully calculate all expenses, including CASCO, and calculate the final loan rate.
4. Be sure to consider the issue of early repayment of the loan.
5. Familiarize yourself with the local requirements of various banks.

The preferential car loan program does not apply to the purchase of used cars. The thing is that the sale of new cars brings significantly larger tax revenues to the treasury than the sale of used cars. Moreover, there is no point in purchasing an old car.

Today, many fresh, high-quality, reliable and prestigious models are being released onto the market. And to purchase a new car, you only need to pay less than a quarter of the cost, and take out a loan for the rest of the amount. Moreover, banks are actively offering car lending services to customers.

Let's consider the conditions of state car loan programs. You will find out which banks offer preferential programs and at what percentage. The article provides a list of cars that you can buy, step-by-step instructions for applying for a loan and reviews from borrowers.

The government decided to extend the state program for the development of the automotive industry in 2017. So, before the end of the year you can still take out a loan for a car with government support at a preferential rate. The state subsidy applies to both the domestic auto industry and cars of foreign brands produced or assembled in Russia.

Read our article about the details of preferential car loans, as well as which cars and from which banks you can take out a loan at a discount. We will tell you what stages of applying for a car loan you will have to go through, and help you weigh the pros and cons of buying a car on credit with government participation.

TOP 5 banks for the state car loan program

Let's see which banks operate under the terms of state programs for preferential car loans. In 2017, these are participants with the following rates:

Rates vary greatly. The percentage varies depending on what conditions are offered by banks participating in the program?. Below we will briefly describe how preferential car loan programs operate in these banks.

VTB 24 Bank offers minimum rates on car loans in 2017. The program applies to new cars produced in 2017 and 2016 with a cost of no more than 1,450,000 rubles. An important advantage of the offer is the absence of a down payment. If you purchase an expensive car for a maximum period at a minimum rate, the amount of the monthly payment will be impressive - about 40,000 rubles, excluding the cost of the CASCO policy, which is issued for the purchased car.

The bank requires a down payment of at least 20% of the cost of the car. The maximum price of a vehicle can be 1,450,000 rubles. The loan term is up to three years. The car must be no older than 2016. You can purchase a new vehicle weighing up to 3.5 tons.

Cetelem Bank

Cetelem Bank is a bank established by Sberbank and the European group BNP Paribas. In addition to the subsidized interest rate, the bank gives its clients a 10% discount on the cost of the car. This discount is taken into account in the amount of the first payment. The bank sells car loans under two state programs: “First Car” and “Family Car” (read more about them below). Moreover, if the borrower participates in one of these programs and another bank promotion, the discounts are summed up. The upper threshold for the cost of the purchased car is RUB 1,450,000.

Unicredit Bank

The preferential car loan program covers passenger cars manufactured in 2016 and 2017, including domestic Lada and UAZ. You will have to contribute at least 10% of the cost of the car. The latter is limited to the amount of 1,450,000 rubles.

Rusfinance Bank

Rusfinance is part of the French financial group Societe Generale along with Rosbank. It is worth noting that the latter has been cooperating with the state to provide preferential car loans for a long time - since 2009. And since 2017, Rusfinance replaced Rosbank in the list of banks implementing the state program. Its offer applies to new cars of current and previous years of production weighing up to 3.5 tons.

The highest possible cost of a car is also 1,450,000 rubles; you can add to the loan the cost of additional options and a CASCO policy, not exceeding 30% of the cost of the car. The loan is issued for 1, 2 or 3 years.

State programs for preferential car loans

Each new car owner contributes to the development of the automotive industry and related industries, while the state regularly receives tax income. Therefore, subsidizing loans for the purchase of cars is not only profitable, but also strategically important. So in 2017, the state will compensate the banks participating in the program for part of the interest payments at their rates, and the client needs to pay the rest.

Since July 2017, the share of government participation has been no more than 2/3 (5.5%) of the Central Bank refinancing rate (8.25% currently). For example, a client chooses a loan program at 15.9%, minus 5.5%, leaving 10.4% per annum. At the same time, the loan period for purchasing a car at a preferential rate in 2017 cannot exceed 36 months.

In general, the conditions for purchasing a car and the requirements for borrowers differ little from standard car loans. The borrower must be no older than 65 years of age and no younger than 21 years of age. The registration address according to your passport or temporary registration must correspond to the place where the loan was issued. Work experience must be at least 1 year. In addition to your passport, you will also need a driver's license to apply.

Car loans from 0% under the state program

Many dealers offer such preferential car loans in 2017. But in fact, there is no such state program for subsidizing loans for the purchase of cars in 2017. In fact, car dealerships enter into agreements with banks and provide interest-free installments for the purchase of a car. Sometimes you can buy a car at a great profit, but generally the bank's profit is already included in the price, and such offers are a marketing strategy to attract customers.

Preferential car loans “Family car”

The main condition for participation in this lending program is the presence of two or more children under the age of majority, that is, the loan is intended for large families. In addition to the preferential rate, targeted borrowers are entitled to a 10% discount on the amount of the car, provided as part of the down payment for the car. In this case, the spouses must be married for at least three years, live together and be registered within the same region.

Preferential car loan program “First car”

The preferential car loan applies only to those who purchase a car for the first time in their lives in 2017. However, in the year of purchase the borrower will not be able to purchase other vehicles. According to the new rules, the state lending program gives the right not only to take advantage of a reduced rate, but also a 10% discount on the cost of the car provided at the time of payment of the down payment.

The borrower will not be able to offset the scrappage certificate of the old car or receive a trade-in discount. The presence of a vehicle of group “A” does not prevent participation in the program.

List of cars under the state program of preferential car loans in 2017

The list of cars eligible for the preferential lending program in 2017 includes quite a lot of brands and models. However, there are essential conditions:

• the car must be made or assembled in Russia;
• vehicle weight - no more than 3.5 tons (i.e. a passenger car);
• cost - up to 1,450,000 rubles;
• release - no earlier than 2016;
• the car must not be registered.

The list of brands includes domestic cars and foreign cars that are made or assembled in the Russian Federation:

• cars of the Renault-Nissan concern, based in Tolyatti;
• Kaluga Volkswagen and Skoda;
• Ford, Toyota, Kia, Hyundai, produced in St. Petersburg and Kaliningrad, etc.

What cars does it apply to? All the most popular models that are made in Russia are suitable for the program, for example:

• Volkswagen Polo and Jetta.
• Toyota Corolla.
• Kia Rio and Sid.
• Renault Logan.
• Nissan Almera.
• Skoda Rapid and Octavia.
• Ford Focus.
• Mazda 3.

Moreover, if you are looking for an SUV, the list of participating models includes:

• Nissan X-Trail.
• Mazda CX-5.
• Renault Duster.
• Ford Kuga.
• Volkswagen Tiguan.
• Niva Chevrolet and more.

The conditions and list of cars that fall under the benefit are expanding from year to year.

Validity period of state car loan programs

Another important question is how long the state benefit for a car loan is valid. The program has no specific end date. Every year the Government decides to extend it. In 2017, no order was signed to extend it for 2018, although this is planned.

How to get a loan

Step-by-step instructions for applying for a car loan:

1. Select a car based on the required parameters.
2. Find out which banks the car dealers cooperate with.
3. Study the loan offers of banks, find out if they provide benefits.
4. Submit an application and prepare a complete package of documents (to confirm your right to benefits for purchasing a car for a family, you will need marriage and birth certificates, and to purchase your first car, a certificate from the traffic police and a positive credit history).
5. After approval, a purchase and sale agreement is concluded.
6. Pay the down payment.
7. The car is registered with the traffic police.
8. Pledge and insurance agreements are concluded.
9. A car loan agreement is drawn up.
10. The money goes to the seller’s account, and the car is given to you.

The order of points 1-3 may be slightly different: select the optimal conditions for a bank loan, find out which dealers the bank has an agreement with and select a car from the fleet offered by the salon. Come to the dealership and a manager will start working with you.

Many showrooms take on both part of the stages of applying for a car loan and registering the car. The application to the bank is sent through a car dealership, which accepts your documents. Dealers are interested in the sale, so loan approval usually happens quickly.

Advantages and disadvantages of a car loan with state support

The advantages and disadvantages of car loans with state support arise from the pros and cons of the preferential program itself.

First the advantages:

• The most reliable banks participate in the program (which one to apply for a loan with is your choice).
• No commissions.
• Early repayment without penalty.
• Transparent lending conditions.
• Little or no down payment.
• Reduced interest rate.

Here are some of the disadvantages:

• Limiting the choice of dealers and banks.
• A small list of suitable cars.
• Shortened loan term.
• Additional documents required.
• The car is pledged.
• A CASCO policy is required.
• Strict requirements for compliance with payment discipline.

But in any case, if the borrower falls into the target category, banks, together with the state, provide the opportunity to significantly save those who are planning to take out a car loan.

A government-subsidized car loan is a loan with a reduced rate for the purchase of a new foreign or Russian-made car. For a long time now, Russians have had the opportunity to purchase a car under a government program. So, below we will consider the parameters with government subsidies in 2019.

Choosing and applying for a car loan

First, you need to find out the conditions for a car loan with state support from VTB and decide on the brand of car you need.

To register, you must complete the following steps:

• Leave a request on the website, at a VTB partner car showroom or at a bank office.
• Provide all documents.
• Wait for a decision, which is made within two days.
• After obtaining insurance and paying the cost of car insurance, the manager will hand over a set of documents for the car and a sales contract.
• The last step is concluding a loan agreement with state support with PJSC VTB.

When signing an agreement, you should find out everything that concerns various fines and overdue debts, otherwise in the future, in a critical situation, you may be unpleasantly surprised.

What kind of discount can you get with subsidies?

How does preferential lending work? The state takes on part of the payment for the car loan. The bank has two options for car loans with state support:

• “State program” – a 10% discount is offered.
• “Driver” – reduced loan rates are offered.

You can take advantage of the government subsidy program even when purchasing a car that will be used for commercial purposes.

Conditions for a car loan at VTB Bank

To apply for a car loan with state support, you need to find out the requirements for the borrower; it is especially worth considering the fact that interest rates changed several times for several years before 2019.

Requirements for the borrower

The bank decides to issue a car loan to the borrower according to the list of conditions:

• Citizenship of the Russian Federation.
• Age – not less than 21 and not older than 65 years.
• Permanent registration in the regions of the Russian Federation and actual residence in the region where the bank operates.
• The total work experience is at least 12 months, the actual work experience must be at least 3 months.
• The average monthly salary is no less than 30 thousand in Moscow and the surrounding area and no less than 20 thousand for other regions of the Russian Federation.
• Availability of two contact phone numbers: personal mobile and home/work landline.
• You must have a driver's license and no other loans for the purchase of a car concluded in 2019.

You must comply with all the points, otherwise the application will be canceled at the stage of its submission, or the bank will approve the car loan not according to the conditions the client needs.

Car loan parameters

The bank is ready to offer potential clients the following parameters of state support:

Name of the program with state support	Loan term	Rates (in%)	Maximum car loan amount	Down payment	Add. note
Driver	Up to 36 months	From 5.5%	1 120 000	0.2	A reduced rate is available when taking out insurance along with concluding a loan agreement.
State program	Unlimited		1 500 000	Without PV	The client can receive a 10% discount.

As can be seen from this table, the loan conditions are quite favorable. It is worth adding that this program with government subsidies is very popular precisely because of its low interest rates.

Documents for registration

An individual can obtain a car loan with state support using only two documents:

• Russian passport.
• Driver's license.

Additionally you can use:

• International passport.
• Military ID, military personnel must show an officer's ID.
• Birth certificate of children (if there are two or more minor children in the family).

It is advisable to provide additional documents for reliability; this will give a slightly greater chance that a car loan for a larger amount will be approved.

List of cars covered by the state support program

The state support program includes cars of the brands Cadillac, Hyundai, Jaguar, KIA, Land-Rover, Lifan, Subaru, Suzuki, Volvo, LADA, GAZ, UAZ. The number of cars is expected to increase in 2019; the list allows you to choose a car according to your needs.

To apply for a car loan with state support, several conditions must be met:

• The car is 2018 – 2019.
• The maximum cost of the car does not exceed 1,500,000 Russian rubles, keep in mind that the cost should not be higher than the loan amount.
• PV corresponds to the conditions of the tariff – 0%.
• The program does not apply to all car configurations; it supports a minimum of car functions.

The program is very suitable for young people who are buying a car for the first time. Thanks to reduced rates and conditions, repaying the loan will not be difficult.

Family Car Program

Families with two or more children under 18 years of age take part in this program. A 10% discount is provided at the time of payment of the first installment on a preferential car loan.

Purpose of the program

Many families do not have the opportunity to purchase a good family car that can meet basic requirements: capacity, price and comfort. The purpose of a preferential car loan with state support is to help large families acquire their own vehicle with maximum benefit.

Conditions of the state program

• Providing documents that confirm the presence of children under 18 years of age (birth certificate).
• Payment of 20% of the amount.
• The purpose of lending is the purchased car.
• No tax debt.

If everything is met, then you can safely contact the bank with the provided documents and an application for a car loan.

Loan calculator

On the official VTB website in the “Car Loans” section you can calculate the amount of the monthly payment and the interest rate already at a discount.

To calculate in the calculator you need to fill in the following:

• car model;
• loan amount;
• down payment amount – from 0%;
• The loan term is up to 36 months or unlimited, according to the terms of the selected program.

For a more accurate calculation, you need to contact managers, because the calculator provides only approximate information.

Car loans, like other financial products, are distinguished by the imposition of responsibility on the client. You should not bring bank debts to the point of collection and seizure of property by bailiffs. Many financial organizations offer to pay for a car loan through them; in this case, the client should consider the payment terms and timing, because different organizations may have different payment options.

Absolutely anyone can take advantage of a car loan with state support - this is one of the best options for those who are buying their first car or a car for their large family. In addition to a car loan with state support, the client can take out a cash loan, a loan or use other services of VTB 24 Bank.

The preferential car loan program is a form of government subsidy for workers that allows them to purchase a new car on credit on attractive terms. The program was first implemented in 2009, its main goal is to support the domestic automotive industry.

Every year, the state allocates significant amounts of funds from the federal budget, through which citizens receive subsidies for the purchase of a vehicle, and car dealerships and manufacturing plants do not lose profit.

As statistical data show, a car loan with state support stimulates consumer activity of citizens, so it was decided to extend the program in 2019. But in order to receive a subsidy, certain conditions must be met.

What is financial support?

The essence of the special program “car loan with state support” is to provide borrowers with compensation for a portion of the amount of the issued car loan from the federal budget.

Thanks to subsidies, the interest rate on the loan drops by 2/3 of the key rate of the Central Bank, which today is 6.7 points.

What does this look like in practice? A borrower, when applying for a car loan at any bank, pays not 16%, but 16-10*2/3=9.3%. The remaining expenses are paid by the state, as a result of which the car dealership and the financial institution do not incur losses.

The main condition is that the future car owner must choose a vehicle from an approved list of models produced by the domestic automobile industry. The car traditionally becomes collateral for the loan for its entire term. Since July 2017, when purchasing a new car, the borrower is given an additional 10% discount when paying the down payment. The discount is calculated as a percentage of the cost of the purchased vehicle.

This type of loan quickly became of interest to the public as an affordable way to purchase transport. Today, the preferential lending program is supported by 70 financial organizations, among which the sales leaders are Sberbank, VTB-24, Rosbank, Rosselkhozbank.

In general, the list of available models in 2019 includes more than 50 items.

Car loan terms

Those borrowers who decide to participate in the state support program for domestic auto manufacturers should familiarize themselves in advance with the requirements for the vehicles they are purchasing:

• The permissible cost of a car does not exceed 1 million 450 thousand rubles.
• The maximum loan term is 36 months.
• The down payment is at least 20% of the total cost of transport.
• Acceptable currency is only Russian ruble.
• The total weight of the vehicle is no more than 3.5 tons.
• Only a new car can be taken out on credit.
• Equipment with ERA-GLONASS auto-system.
• Purchase of domestically assembled vehicles from the agreed list.
• No more than 1 car per person.
• The applicant has a valid license.

Often those wishing to purchase a car have disagreements with the bank over the concept of “new”. So that future borrowers do not have questions about this, it is worth clarifying the situation.

A car is considered new if the following conditions are simultaneously met:

• The “age” of the car is not older than 1 year.
• Mileage - no more than 6000 km.
• There is no mark on registration with the traffic police.

Available cars

Initially, the state car loan program allowed the purchase of only Russian vehicles. Today, bank clients have access to foreign brands of cars assembled and produced at Russian factories.

List of available models:

Brand	Model	Notes	Brand	Model	Notes
Bogdan	The entire model range		Mitsubishi	Lancer	Options are limited
Chevrolet	Aveo	Options are limited	Scoda	Fabia	Options are limited
	Cobalt
	Cruze			Octavia
	Niva
Citroen	C4	Options are limited	VW	Polo
	C-Elysee
Daewoo	Nexia		Toyota	Corolla	Options are limited
	Matiz
Ford	Focus	Options are limited	Opel	Astra	Options are limited
Hyundai	Solaris		UAZ	The entire model range
KIA	Rio	Options are limited	ZAZ	The entire model range
	Cee'd
LADA	Kalina		Renault	Logan
	Kalina
	Priora			Sandero
	Largus
	Samara			Duster
	4x4
Mazda	3	Not all configurations	Nissan	Note	Not all configurations
				Tiida
				Almera

In the future, the list will include several more models from Hyundai, Renault and Nissan, which are currently under consideration by the Ministry of Industry and Trade.

The presented foreign cars are available mainly in minimal configuration.

Where can I get a loan?

At the beginning of its existence, the state program allowed the issuance of a car loan only in the bank whose founder list included the state.

Over time, financial organizations began to show interest in preferential loans, and by 2017 the list of banks expanded to 70.

It includes both large federal banks (Sberbank, Rosbank, Alfabank) and regional organizations (Uralsib, Gazprombank, Verkhnevolzhsky CB).

The list of participating banks is constantly changing due to the current financial situation in the country.

Today, the leading banks in terms of the number of concessional loans issued are:

• Rusfinance.
• Unicredit.
• Sberbank.
• Rosselkhoz.

The conditions of the listed banks are approximately the same, and the rate fluctuates between 15-19%.

Among the general requirements for financial organizations from the Ministry of Industry and Trade is a minimum interest rate limit. It should not rise by more than 10% of the Central Bank key rate. In 2017, the upper limit was 20%.

Requirements for borrowers

To obtain a preferential car loan, banks put forward requirements not only for the vehicle being purchased.

Future borrowers must comply with certain conditions:

• Citizenship of the Russian Federation.
• Must be at least 21 years of age and not over 65 years of age.
• Availability of permanent or temporary residence in the region where the loan is provided.
• Work experience in the last place for at least 12 months.
• Have two or more minor children.
• Possession of a driver's license.
• Buying a vehicle for the first time.
• The borrower must not have other car loans (confirmation from the BKI) and declare in writing that no new loans will be concluded during the year.

In addition, the client will have to prepare a package of documents:

• Russian Federation passport with registration stamp.
• Additional identification document.
• A copy of the employment contract and work record book.

The list of certificates is not final and may vary depending on the conditions of a particular financial institution.

Thus, some banks provide the opportunity to obtain a car loan with just one passport, but only for those employees of corporate clients (this includes persons receiving wages on the card of this bank). Other organizations, for example, Sberbank, allow the issuance of a loan using only two documents, but only by increasing the down payment.

The reason for refusing a loan is the negative history of the borrower, as well as children under the age of 6 months (for women).

Dear readers!

We describe typical ways to resolve legal issues, but each case is unique and requires individual legal assistance.

To quickly resolve your problem, we recommend contacting qualified lawyers of our site.

Latest changes

Attention! The 10% discount received under this state program is considered a property benefit (income), therefore it is taxed. As the Ministry of Finance of the Russian Federation explains, there are currently no plans to make amendments to the Tax Code of the Russian Federation. Consequently, everyone who has already purchased a car under such a program will in the near future receive tax notices about the need to pay a personal income tax of 13%.

The results of the past year showed that thanks to organized state subsidies, the sales plan for passenger cars was exceeded by 20%. From this it follows that the preferential car loan program is an effective sales tool.

This program may be extended in 2018. In addition, the government will add new targeted programs. At the same time, a new increase in the maximum threshold for the cost of a vehicle is planned in 2018. This solution will expand the range of models offered to customers on preferential terms.

Our experts monitor all changes in legislation to provide you with reliable information.

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Preferential car loan program

February 15, 2017, 18:54 March 3, 2019 13:50

Preferential car loans are a banking service based on property collateral. By concluding an agreement, the borrower receives the right to use the car, but is not its owner until the amount of the debt and the interest accrued by the credit institution are fully repaid.

Dear readers! The article talks about typical ways to resolve legal issues, but each case is individual. If you want to know how solve exactly your problem- contact a consultant:

APPLICATIONS AND CALLS ARE ACCEPTED 24/7 and 7 days a week.

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What are the advantages of a government-subsidized car loan?

Benefits in 2019

Russian automobile production is in decline. In 2015, consumer power declined so much that the decline in vehicle sales reached forty percent. The issuance of car loans has been reduced to almost zero.

In order to stimulate the interest of buyers, a government program was launched that allows purchasing cars on affordable terms.

As observations and sales statistics show, this program is beneficial not only to manufacturers, but also to car enthusiasts.

When did the project come into effect?

A state program that allows Russian citizens to purchase cars on favorable terms was developed by the State Duma back in 2009.

The list of cars for which you can get a preferential loan is updated annually. The terms and conditions also do not remain unchanged.

The income of most citizens does not allow them to purchase a car. A classic loan is also not for everyone. The program, based on attracting consumer interest in budget vehicles, allowed thousands of citizens to become car owners.

Latest changes

In the spring of 2019, the Prime Minister signed a government decree on a support program for Avtoprom.

The goal of the program is to lay the foundation for the resumption of growth in Russian car production.

Consumer activity, despite the economic crisis, has increased sharply. However, the program provides for a number of strict conditions. For both banks and borrowers.

The essence of the program

A car loan with state support in 2019 is an advantageous offer for those who want to purchase a domestically produced car. The borrower pays only one third of the debt. The rest of the amount comes from the state.

The preferential system has revived the Russian automotive industry. It also has quite favorable conditions for consumers. But, of course, not every vehicle can be borrowed on such terms.

A car for which you can get a loan with state support must meet the following requirements:

• cost not higher than 750 thousand rubles;
• weight no more than three and a half tons;
• time from the date of release no more than a year;
• assembled in Russia;
• was not previously registered.

The program provides two more nuances. Namely:

1. A car loan with government subsidies is issued for a period of up to three years.
2. The borrower must make an advance payment of at least 15% of the cost of the car.

Conditions for the borrower

The procedure for obtaining a car loan on preferential terms follows a standard procedure. A citizen of the Russian Federation with a bad credit history is unlikely to be able to draw up such an agreement. Or someone who is unable to document their income.

The main requirements that banks impose:

1. Citizenship of the Russian Federation.
2. Age from 21 to 55 years.
3. At least five years of experience.

Where to apply

As for the conditions for banks, they are quite strict. Therefore, not every credit institution operating in Russia has the right to provide such a service. But, despite many requirements, ninety banks were accredited.

Among them:

• Sberbank;
• Bank of Moscow;
• VTB 24;
• Rosselkhoz Bank;
• Unicredit;
• Rosbank.

A vehicle acts as a guarantee of solvency. The advantage of receiving a loan under the federal program is that it is not necessary to obtain CASCO insurance.

The basic requirements of banks are similar. The differences lie in the rate, minimum repayment period, and loan size.

Let's consider the interest rates for a subsidized car loan in each of the above organizations:

VTB24

One of the leading banks in Russia is actively involved in the project. The conditions for obtaining such a loan at VTB24 are as follows:

The requirements for a client wishing to acquire vehicles under the terms of a state project are the same as when drawing up other loan agreements.

The ideal borrower for VTB is a man under the age of 55, with at least a year of experience, preferably receiving a salary on the card of this bank.

The income indicated in must be ten thousand rubles per month or more.

Preferential lending under the Autoexpress program is a banking product that is presented at VTB. It is convenient for those who want to bypass the CASCO registration.

The conditions are the same as above, except that the borrower's savings must be at least 30%.

What model of car can I get on credit on preferential terms from this bank? The list of cars at VTB corresponds to the list approved within the framework of the state project.

It should be said that the conditions are the same for all banking structures. The only difference may be additional requirements for clients.

Sberbank

The oldest organization offering a wide range of banking services has established additional requirements for clients wishing to apply for a car loan with government assistance:

1. The loan is issued for a new vehicle.
2. For a loan period exceeding one year, the rate is 9% for a salary project participant.

List of cars on car loans with state support in 2019

Since 2019, as part of a state project, bank clients can purchase on credit not only Russian cars, but also imported ones.

The list of vehicles is approved by the Ministry of Industry. In 2019, the list consists of fifty models. The complete list is presented in the table.

Is it possible to register a used car?

It is impossible to get a loan for a used car on preferential terms. Initially, the program implied the purchase of exclusively Russian-made cars.

In 2019, the requirements for vehicles for which a preferential loan can be obtained have changed somewhat.

The list includes some foreign models. One way or another, the car must be assembled in Russia. You can only purchase a car on credit with government support from a dealer.

Design features

A prerequisite for participation in the state program of preferential car loans is a down payment. The minimum amount is 15% of the cost of the car.

Loan terms vary. In Sberbank, for example, when you deposit thirty percent of the cost of a car, the interest rate is reduced.

The main feature of the procedure for obtaining such a loan is that it does not begin with a visit to the bank. First of all, you should visit a car dealership.

Dealers cooperate with banking organizations. Having made a preliminary choice, the client contacts one of the institutions recommended by the car dealership, where the contract is drawn up.

Required documents

When contacting the bank, you should collect the following documents:

• original passport;
• certificate 2-NDFL;
• extract from the work book;
• bank application form;
• PTS for a car;
• preliminary agreement with a car dealership;
• information about property;
• a document confirming the availability of funds for the down payment.

If there is not enough money for a down payment, you should use the help of a guarantor. The bank makes a decision within seven days.

Participants in the salary project do not have to wait so long, and the interest rate specified in the contract is usually reduced

Flaws

Car enthusiasts cannot but be pleased with preferential lending conditions. But it is worth knowing that drawing up an agreement with a bank as part of a government project is not so simple.

First of all, you need to confirm your solvency. In this case, the credit institution takes into account only information about income confirmed by documents.

The disadvantages of a car loan with state support also include:

1. Payment deadline. It, as already mentioned, cannot exceed three years. Banks give classic car loans for a longer period: up to six years.
2. No choice of currency. The loan is issued only in rubles.
3. Banks give money only for the purchase of vehicles. Insurance is an additional expense that the borrower assumes.
4. Additional costs. Since January 2019, the minimum rate on a car loan is 7.33%. Previously it was five and a half percent.

Such changes entailed tax consequences for clients who took out a car loan with state support. After all, if the rate is below the “threshold value,” then the borrower has a material benefit, which, in turn, is subject to a thirteen percent tax.

However, this does not significantly affect the demand for banking products sold with the assistance of the state. The tax payment, in any case, is less than the interest that bank clients pay on conventional car loans.

Advantages

A preferential car loan has advantages over a classic one. In addition, in 2019, changes were made to the program, due to which more comfortable conditions were created for borrowers:

1. The opportunity to become a car owner with a small amount of PV.
2. Low interest rate.
3. The opportunity to purchase a car, both the current year of manufacture and the previous one (until 2019, this was impossible under the preferential program).
4. In some cases, it allows you not to pay PV.

What are your plans for 2019?