Car loan in Ukraine
It so happened that in our country, a car is primarily a luxury, and then only a means of transportation. They start dreaming about their own car in childhood. But the ratio of the price of a car to the income of citizens does not allow you to quickly put off and buy a car for a short period of time. And if your dream is a new car, then you may need to consider buying a car on credit. Moreover, all car dealerships work with large banks and jointly develop loan offers for car purchases.
A common question that people who want to buy a car ask themselves is which car can I buy on credit. You can buy a car on credit with a new or used one. Only when buying a used car are there significant differences in terms of buying a car, which we note further.
Buying a car for a “newbie” is a difficult process. Buying it on credit is three times more difficult, since you need to register, draw up credit documents, car insurance and personal insurance. Employees of the bank and car dealership will help everyone to figure this out.
Lending conditions at different banks differ insignificantly. The main requirements that an applicant for a car loan must meet are age from 22 to 60 years, having a standard income statement, confirmation of additional sources of income, the ability to make an initial contribution of 15 percent of the initial cost of the acquired property. When buying a car not from the conveyor, but a used one, the down payment may be from 30 percent depending on the age of the car, but basically it is 50 percent of the initial cost. Also, for a loan purchase of a new car, it will be necessary to make an expert assessment of the car in order to determine its market value.
A car purchased on credit is registered with MREO with a note that it is currently on credit, which means that it is not possible to remove it from the register without paying the bank. It should also be noted that a loan to purchase a car is given on the security of the subject of purchase, that is, the car itself.
Read more about lending here: take a loan.