If you have made decision to acquire car by means of a bank loan, that, naturally, you want to save as much as possible. Any motorist in our country knows that car crediting on special offers is interesting enough conditions in this sense. Today, when the complete recovery of product demand of a car market and all adjacent industries with it became already to all obvious, and rates on purchase credits of cars have reached the optimum value and, most likely, decrease any more won’t be seen, the competition for consumers from banks goes by means of special program expansion.
Especial conditions of cooperation with dealers include also mitigation of requirements to a packet of given documents, and possibilities of a choice of some options of the agreement, and even an interest rate variation. The chief of department of alternative sales has reminded about the essence of the majority of special programs that consists in cooperation between bank and the dealer at whom the size of the percent which are subject to payment under the credit can be lowered at purchasing of the car of certain mark in the dealer center.
Decrease in the size of percent occurs at the expense of a discount given by the dealer center on the car to concerned party. Certainly, it is very favorable to the buyer, having an opportunity to buy the car on the down payment plan without an essential overpayment. Thus, special programs represent mutual interest both for banks and for the dealer centers, for this reason the number of special programs will grow, – the chief predicts. Let’s carry out at once approximate calculation of cost of a foreign car (according to the statistic, they are bought through car credits more often), acquired in the property in a similar way.
Let’s consider, for example, conditions of car crediting in the program which provides the initial contribution from 30 %, the crediting period is possible from 12 till 60 months, but the interest rate will differ thus. Car loans for 1 year stand out fewer than 11 % annual, and for 5 years – under 13 %. The sums also differ. Car credit is arranged only in domestic monetary units. At any crediting period the single commission for issue will constitute 300 dollars.
So, we have contacted a motor show which densely cooperates with this bank on conditions of the described program. We will admit, we plan to acquire Volvo S40 at the price of 25 000 dollars we confirm that we will bring 30 % of the initial contribution. Monthly payment at a crediting period and the rate of 11 % annual will constitute 1 year 2000 dollars. If we arrange the credit, say, for 3 years the rate will be 11,4 %, and to pay every month 600 dollars. Here such parameters of the agreement is required assumes cooperation with bank.
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