Car loans or consumer loans: which is more profitable? Which loan to choose: reviews

According to statistical data, the average cost of a car in Russia reaches 800,000 rubles. 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 can be seen 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 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

1. Ability to issue a loan in the showroom. Having available a small amount of money for the first installment of the loan, you can apply without leaving the showroom.
2. Wide program of car loans. Almost all banks provide loans for the purchase of an "iron horse". Due to the fact that when the loan is issued, the bank will automatically secure itself by having a pledge, making a decision on the approval of a loan is observed much more often than decisions on a consumer loan.
3. Low interest rate. In contrast to consumer loans, where the average interest on the loan is 20%, car loans in this plan is 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 fall in demand for 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 suited 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.
4. The impossibility of selling a car to third parties. With a car loan, banks always take your car as a pledge, and the PTA remains in the bank until the day the loan is repaid. In case of failure to pay you a loan, the credit organization takes over the car. 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 for the loan. But all these actions are illegal!
5. 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

1. Use of funds at your discretion. Thanks to the non-targeted loan being issued, it becomes possible to buy a used car with a lower cost, in contrast to a car loan, where funds are issued only for the purchase of new cars, with few exceptions.
2. Full disposal of your car. Of course, this is an undoubted plus in the design of this type of loan. You can sell, change, pledge your "friend" without crossing the line of law.
3. Ability to refuse to receive a loan. Not all banks are ready to give you their blood, if there is no pledge or surety. In this regard, car loans or consumer loans - which is more profitable? Of course, the target purchase of a car from the bank.
4. Significant interest rates. In practice, the rates for consumer loans are always higher than for car loans.

Car loans or consumer loans: reviews

As the testimonies show, the majority of the Russian population prefers to use a car loan, emphasizing their attention to the fact that this type of lending is easier to obtain, without unnecessary "hassle", and reconciles with the fact that the PTA remains pledged to the bank.

But there are also those who are categorically against it, 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. So all the same, car loans or consumer loans - which is more profitable? In 2014, a priority is a car loan, with its ease of collection and small interest rates.

Sberbank "turns off" car loans

Sberbank is the largest representative of state-owned banks. Almost every family is served in this bank. He also does not avoid car loans. But due to the current circumstances in the country, Sberbank from the end of 2014 abandoned car loans and shifted these functions to a subsidiary of "Settlement 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 question of what is better than 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. But a part of the population is still waiting for the restoration of the car loan system from this bank.

What is still better: a car loan or a consumer loan?

Answering the question: What is the most advantageous for a car loan or a consumer loan? ", It will be more correct to leave auto loans in priority, because, firstly, the rates for loans are always significantly lower, and secondly, it is almost never necessary to attract third parties for a loan and The third - most banks offer bonus, special programs for car loans.At the time of the crisis, sometimes you can borrow a car on credit without any overpayment.If you miss before realizing your dream of buying a car - absolutely It is better to use a consumer loan, which will allow you to save on CASCO.