A lot of time has passed since the start of the benefits system, but only 14.5 million consumers decided to purchase, as evidenced by. This figure is three times lower than the manufacturers expected. In this regard, adjustments have been made to preferential lending, which will open up even greater opportunities for Russian buyers. Now, with the participation of government subsidies, you can purchase not only passenger cars, but also commercial vehicles of domestic and foreign production ().
The Russian government has increased the maximum price of cars under the state program
These can also be minibuses weighing no more than 3.5 tons. The government also touched upon the amount of loans: if previously the limit on the amount of a preferential loan was 1 million 150 thousand rubles, now. Of course, for Russian citizens purchasing with state support, the greatest role is played not even by the price and interest on the loan, but by the amount of the down payment. Many who are able to accumulate an impressive amount will give preference to a foreign car. In view of this circumstance, the down payment threshold was also reduced. Now it is enough to deposit only 20% of the cost of the car.
The list of cars participating in the state subsidy program was also updated. However, no less serious requirements were imposed on manufacturers: the car must be produced in Russia, or participation in its creation and assembly by the Russian side must be at least 50%. In general, now everyone who wanted to buy a domestic car will be able to afford it. Those who haven’t thought about it are forced to scratch their heads: “Or maybe...”. Below is a list of cars that potentially fall under the preferential car loan program in Russia in 2019 worth up to 1 million 150 thousand rubles. Here it costs up to 1450 thousand rubles.
The list of cars under the 2019 car loan program has expanded due to an increase in the upper price limit. If in 2014 the cost of a car could not exceed 750 thousand rubles, then in the current 2019 it is 1 million 500 thousand rubles. A fairly large list of cars with state support falls into this price range, but, unfortunately, often in minimal configuration. These are almost all models and many budget ones, assembled in the Russian Federation.
List of cars in 2019 under the state car loan program
(the list is approximate, compiled according to data from previous years, inaccuracies are possible)
| 1 | ; | 19 | LADA Vesta; |
| 2 | Chevrolet Cruze (not all trim levels); | 20 | Mazda3 (not all trim levels); |
| 3 | Chevrolet Aveo; | 21 | Mitsubishi Lancer (not all trim levels); |
| 4 | Chevrolet Cobalt; | 22 | ; |
| 5 | Citroen C4 (not all trim levels); | 23 | Nissan Note; |
| 6 | Citroen C-Elysee; | 24 | Nissan Tiida (not all trim levels); |
| 7 | Daewoo Nexia; | 25 | Opel Astra (not all trim levels); |
| 8 | Daewoo Matiz; | 26 | Peugeot 301 |
| 9 | Ford Focus (not all trim levels); | 27 | Peugeot 408 (not all trim levels); |
| 10 | ; | 28 | (not all configurations); |
| 11 | KIA Rio; | 29 | ; |
| 12 | KIA Cee’d (not all trim levels); | 30 | Renault Sandero; |
| 13 | LADA Granta; | 31 | Skoda Fabia |
| 14 | LADA Kalina; | 32 | Skoda Octavia (not all trim levels); |
| 15 | LADA Priora; | 33 | Toyota Corolla (initial configurations); |
| 16 | LADA Largus; | 34 | Volkswagen Polo (not all trim levels); |
| 17 | LADA 4×4; | 35 | Bogdan – all models; |
| 18 | LADA Samara; | 36 | UAZ and ZAZ – all models; |
It is convenient to purchase a car using a car loan. After all, it is not always possible to save the required amount, but if you take advantage of government support, you can also save money. The decision to buy a car on credit is quite an important step. You need to accept it slowly, after analyzing the offers of several credit institutions at once. The optimal solution is to use the “preferential car loan” program, which significantly reduces the interest rate.
Buying a car using this program can be very profitable. But not every consumer can use it. To use the benefit, you must adhere to certain conditions.
Preferential car loan. Concept of a program
The lending program on preferential terms was introduced in 2009, after which it was repeatedly extended due to the demand and growth in demand for the domestic auto industry. More than 70% of all car loans are issued under this program. The general scheme for obtaining a loan on preferential terms is no different from a regular car loan:
- the borrower chooses a car;
- fills out an application for a loan;
- receives the bank's decision;
- signs loan documentation;
- the bank transfers money for the vehicle;
- The buyer takes the car and pays off the loan for it within the prescribed period.
There are no queues at banks, the program works perfectly. There are no difficulties with registration.
The procedure for providing benefits is determined by Decree of the Government of the Russian Federation dated April 16, 2015 No. 36, which also extended the “subsidization of car loans” program. The decision to introduce it was made at the height of the crisis. Its essence was to increase interest in vehicles of domestic manufacturers.
State assistance consists of partial payment of interest on a car loan from the state treasury. Compensation can be calculated as 2/3 of the amount indicated as a percentage of the bank’s income from this loan. Direct reimbursement is calculated based on the refinancing rate for loans received.
Let's look at what percentage the state will reimburse a credit institution using an example.
Let's assume the interest rate on a car loan is 19%.
The refinancing rate is 10%.
The compensation is: 10 / 3 × 2 = 6.67%. The borrower will pay the difference 19 – 6.67 = 12.33% on his own.
The refinancing rate is set by the Central Bank.
As a result of the implementation of the program, sales of vehicles in the domestic automobile industry increased by fifty percent. That is why the program was extended.
In May 2017, ten billion rubles were allocated from the state treasury for the lending program. At the same time, new conditions for the provision of subsidies were introduced. Only if you comply with them can you count on providing a loan in a preferential form.
Car loan terms
Taking into account the changes introduced by the Decree of the Government of the Russian Federation of May 3, 2017 N 514, the state program for subsidizing car loans in 2017 has the following conditions:
- the price of the car is not more than 1,450,000 rubles;
- vehicle weight no more than 3.5 tons;
- no more than a year has passed since the car was released;
- loan repayment period 36 months;
- the down payment amount is 20%;
- the list of vehicles has expanded;
- Now you can buy domestic and foreign cars;
- car loans are issued only in rubles;
- a limit on interest for reimbursement is set at 6.7%;
- securing a loan in the form of car collateral;
- Only fixed-term interest is reimbursed;
- the applicant has Russian citizenship.
In addition to the program conditions, banks set their own requirements. The credit institution must be confident in the return of money.
The legislation does not impose a limit on the number of vehicles purchased under the preferential program. But financial institutions do not provide such loans for two cars at once.
Who is eligible to take advantage of a preferential car loan?
A citizen of the Russian Federation who meets the following requirements has the right to use the car loan program with government subsidies:
- Age from 21 to 65 years. Sometimes banks provide car loans to people over eighteen years of age, with a guarantor. It is also sometimes allowed to issue a loan to a person who will pay off the debt before turning 75 years old.
- Registration of the place where the loan was issued. Often banks allow the issuance of a loan in another locality, provided that there is a branch of the lender’s bank.
- Work experience of at least one year.
- Availability of documented income that ensures repayment of the debt. This is the basic condition of all banks. Each credit institution issues a loan to a reliable client. Also, as a safety net, the car is pledged. If the client stops paying the loan, the bank takes it away.
- The minimum loan amount is RUB 50,000.
- The minimum loan term is from 1 year to 3 years.
Such a loan cannot be obtained by persons with a bad credit history and women with a child under six months of age.
Documents for obtaining a car loan
Documents for obtaining a loan:
- passport and another identity document;
- personal income tax certificate 2 about earnings for three months from the employer;
- if the client is a pensioner, he is required to present a pension certificate and a certificate from the Pension Fund about the amount of his pension;
- photocopy of the work book.
The standard documentation package is indicated here. Banks have the right to supplement or reduce this list at their discretion. For example, Sberbank has a condition for issuing a car loan based on two documents. However, this increases the amount of the down payment. You can clarify the full list of required documentation during your initial consultation with the bank.
Banks working with the program
The state program of preferential car loans has created tough conditions for banks. Not all credit institutions comply with them.
At first, the main requirements for banks were:
- authorized capital more than 70 billion rubles;
- the presence of 50% of the shares of a financial institution in state management.
Subsequently, conditions softened and the list of credit institutions was expanded.
The legislation does not establish a specific list of names of banks participating in the state program. On the official website of the Ministry of Industry and Trade of the Russian Federation you can see a list of financial organizations that have confirmed their participation in the program. This list is updated every day.
Now the group of the most popular banks among car loan lovers includes:
All financial organizations indicated in the table have their own advantages. For example, Sberbank allows early repayment of a loan without penalties, subject to a written application.
Generally, customer reviews of the program are positive. From an economic point of view, it is beneficial for the following reasons:
- ensures the profitability of loans and increases demand;
- increases the demand for certain brands of cars.
Banks take an active part in such programs. This allows them to make more profit due to the turnover of money. But restrictions imposed on financial indicators slow down the development of the program.
Cars eligible for the car loan program
According to the Government Resolution, taking into account the changes, the state program of preferential car loans is valid for cars weighing up to 3.5 tons that are not previously registered. The exception is used cars. But, no more than one year.
The goal of the program was to support the Russian automotive industry and stimulate demand.
Which cars are eligible for preferential lending in 2016–2017 are presented in the table:
| Item no. | car brand | Item no. | car brand |
|---|---|---|---|
| 1 | LADA Vesta | 20 | Chevrolet Cruze |
| 2 | LADA Granta | 21 | Mazda 3 |
| 3 | LADA Kalina | 22 | Mitsubishi Lancer |
| 4 | LADA Priora | 23 | Nissan Almera |
| 5 | LADA Largus | 24 | Citroen C4 |
| 6 | LADA 474 | 25 | Nissan Note |
| 7 | LADA Samara | 26 | Citroen C-Elysee |
| 8 | Chevrolet Cobalt | 27 | Nissan Tiida |
| 9 | Chevrolet Aveo | 28 | Daewoo Nexia |
| 10 | Chevrolet Niva | 29 | Opel Astra |
| 11 | UAZ | 30 | Daewoo Matiz |
| 12 | ZAZ | 31 | Peugeot 301 |
| 13 | Ford Focus | 32 | Peugeot |
| 14 | Renault Duster | 33 | Hyundai Solaris |
| 15 | Bogdan | 34 | Renault Logan |
| 16 | KIA Rio | 35 | Renault Sandero |
| 17 | KIA Cee'd | 36 | Toyota Corolla |
| 18 | Skoda Fabia | 37 | Volkswagen Polo |
| 19 | Skoda Octavia |
All commercial banks have the right to change the list of vehicles financed. The main thing is that the car meets the conditions of the program.
Prospects for preferential lending
To avoid oversaturation of the automobile market, manufacturers switched to uniform sales. Due to lower loan rates, the demand for vehicles is at a good level and is not subject to decline.
Subsidy forecasts are not without flaws. The economic situation in the country remains tense, resulting in a high percentage of loan defaults. All this gives reason for the authorities and credit institutions to think about reducing the amount of subsidies. At the same time, supporters of the program argue that support for the sale of domestic cars cannot be reduced, since the demand for such vehicles will drop significantly without government support.
During the government program, many people were able to buy long-awaited transport. Preferential car loans have significantly contributed to the purchase of cars and the growth of profits of domestic manufacturers.
Decree of the Government of the Russian Federation of April 16, 2015 N 364 extended the preferential lending program in our country. Any citizen of the Russian Federation has the right to use it, subject to certain conditions. The buyer just needs to choose the brand of car and the bank that provides preferential car loans.
The crisis in the country has led to a significant deterioration in the situation in the automobile market. Reduced wages, layoffs, and increased prices for utilities do not make it possible to buy new cars, so preference is given to used vehicles.
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To correct the current situation, the state developed a program to finance half the interest rate on a car loan.
This makes it possible to get a loan to buy a car not at 16% per annum, but at 8%. But the program has its own nuances and it does not work in all banks.
About the program
The car loan program with state support was created in 2013 with the aim of increasing sales of representatives of the Russian automobile industry.
The subsidy quickly gained popularity: banks accredited for this service began to actively offer it to their clients. Sales of domestic cars increased, and the manufacturer and banks began to make profits.
Any adult and individual entrepreneurs can take part in the program.
Its essence is to provide a discount on the purchase of a new domestic or foreign (assembled in Russia) car. It is not the cost of the car that decreases, but the interest rate.
The disadvantage of the program is the limited selection of cars and the number that can be purchased.
As a rule, banks allow the purchase of only one vehicle. Although this rule is not regulated by law.
But when you contact the bank again to purchase a car on a preferential loan, you will almost certainly be refused.
By what legislative act was it adopted?
The regulatory act establishes the right for citizens of the Russian Federation to purchase a Russian-assembled car with government subsidies.
The Resolution states that the subsidy reimburses part of the lost interest. Loan terms and vehicle requirements are regulated.
The regulation has been changed several times. Adjustments were made to it based on the results of the subsidy in the country. For example, the maximum amount has been increased.
At first it was 750 thousand rubles, then 1 million rubles, now it is 1.15 million rubles. Changes were also made to the list of cars; initially it consisted of domestic brands.
Today it is possible to purchase a car from a foreign manufacturer, but it must be assembled in Russia.
The law on state support was extended until the end of 2019. So far, no decision has been made on the possibility of preferential lending in 2019, although a proposal has been made.
Which banks offer car loans with state support in 2019
Preferential car loans have several conditions:
- The cost of the car should not exceed 1,150,000 rubles (initially it was allowed to buy a car worth no more than 1,000,000 rubles).
- The weight of the machine is no more than 3.5 tons. Applies to all types of vehicles, including vehicles for commercial use.
- The car must be produced in Russia in 2015 or 2019.
- carried out in Russian rubles.
- The purchased car was not previously owned by an individual and was not registered.
- The loan is issued for 3 years.
- The size is at least 20% of the cost of the car.
- Only fixed-term interest is subject to subsidization. They do not include a commission for maintaining an account, payment for an insurance policy, or an increase in the rate for refusing CASCO. The base interest rate for the car loan program is taken into account.
A prerequisite for banks is documentary evidence of income. Initially, CASCO insurance was also an integral requirement, but in 2019 it can be abandoned.
This reduces the likelihood of your application being approved and increases the interest rate, but is not a requirement.
You can purchase a car of the following brands using the state program:
- Lada;
- Chevrolet;
- Citroen;
- Daewoo;
- Ford;
- Hyundai;
- Mazda;
- Mitsubishi;
- Nissan;
- Opel;
- Peugeot;
- Renault;
- Skoda;
- Volkswagen;
- Bogdan;
Not all models of the listed brands are included in the program. It is also not possible to purchase some models fully equipped. A complete list of cars can be obtained from a bank or car dealership.
Within the Russian Federation
86 banks were accredited to provide car loans with state support. They have the appropriate permission, which gives them the legal right to issue loans under a preferential program.
Almost the same in all financial institutions.
The loan term remains unchanged - 3 years and the maximum amount - 1,150,000 rubles:
The bank reserves the right to set the interest rate. But, as a rule, it does not exceed 20%, and for preferential lending - 14%. Also, banks may not provide loans for some car models.
For example, many organizations do not cooperate with Russian machines. And with preferential lending you can only buy foreign cars, domestically assembled.
To apply for a loan, you must have Russian citizenship and registration in the region where the vehicle was purchased. Lending is not available to non-residents, as well as without permanent registration.
Around Moscow
Having a Moscow residence permit, you can get a preferential car loan from almost any bank. It is advantageous to contact a financial institution directly, having first submitted an application and only after approval proceeding with the selection of a car.
But it will be faster to get a loan at a car dealership. You can visit a branch of an official dealer that sells car models available on a preferential loan.
They almost always have various promotions and offer discounts on many cars.
Large car dealerships cooperate with the largest Russian banks, where you can get a loan on favorable terms:
| Bank | Interest rate, min. | Interest rate, max. | Approximate overpayment, rub. |
| Gazprombank | 9.83% | 13,23% | 140 000 |
| Zenith | 9.5% | 14% | 141 000 |
| UniCredit | 9.5% | 15% | 141 000 |
| Expert | 10% | 20% | 148 800 |
| TatfondBank | 10.7% | 15% | 159 700 |
The overpayment is based on the maximum cost of the car and the minimum interest rate. The cost of CASCO is added to it if the policy is paid for with borrowed funds.
In St. Petersburg
Loan terms in St. Petersburg depend on several parameters:
- client's level of solvency;
- consent to CASCO and life insurance;
- the amount of the down payment;
- place of loan issuance.
The interest rate increases if you refuse additional insurance and take out a loan at a car dealership. But the change is not critical, only 2-3% is added:
| Bank | Interest rate is standard | Interest rate under the program |
| Metcombank | 18% | 12% |
| Timer Bank | 18% | 12% |
| Loko-Bank | 17% | 11,2% |
| Union Bank | 17% | 11% |
| VTB 24 | 20% | 12% |
The percentage is formed individually, after which the bank calculates the discount. It is the difference between the loan rate (base rate of the bank) and 2/3 of the refinancing rate at the time the loan is issued. On average, the percentage decreases by 6-7 points.
Banks are not allowed to inflate interest rates for profit. The base percentage should not exceed 20%, regardless of the client’s solvency.
This leads to frequent loan refusals. If with the classical program the bank can increase the rate to 50%, then with the participation of the state this cannot be done. Therefore, quite stringent requirements are imposed on borrowers.
Benefits and disadvantages of the preferential program
Government subsidies for car loans have their advantages and disadvantages.
At the time of the introduction of the new program, the benefits seemed obvious to all parties: the state benefits from the sale of Russian cars, the manufacturer increases income, banks receive new clients, the borrower buys a car on credit with good benefits.
But there are always two sides to a coin, so it’s worth knowing about the disadvantages of the program, along with the advantages.
One of the disadvantages is the possibility of using transport only for personal purposes, although in practice this point is never tested.
This is explained by the fact that a car used for commercial purposes wears out faster and loses liquidity. Selling such a car is much more difficult than selling a vehicle for personal use.
But it is still not recommended to use the car for a taxi or as an educational vehicle. When insuring, special coefficients are applied that increase the cost of the policy.
And if the insurance company discovers fraud, it will terminate the contract with the policyholder and transfer the information to the bank. And the creditor has the right to demand payment of the balance of the debt before the end of the contract.
For other types of business, using a car is not prohibited if you have the status of an individual or individual entrepreneur.
For banks
For the bank, the preferential program provides benefits in the mass circulation of borrowers. The popularity of this type of car loan has led to an increase in applications and clients.
At the same time, no losses were felt - the state compensated for the discount given to the borrower. At first, almost everyone’s applications were approved. This was the main goal of the program.
Subsequently, the number of people receiving preferential loans decreased slightly. The reason for this was non-payment of loans and accumulation of debts.
Lengthy legal proceedings, confiscation and sale of pledged property are the bank’s actions in case of non-payment of a loan.
And numerous debts take up a lot of time. For this reason, lending with state support is unprofitable for banks.
For car enthusiasts
Borrowers buy a car on credit with a reduced interest rate - this is the main and only advantage of state support.
There are more disadvantages to preferential lending:
- limited selection of cars;
- short loan period;
- relatively small loan amount;
- mandatory down payment.
The requirements for borrowers are strict, credit history is studied, and proof of employment must be presented.
If with a classic car loan you can do without additional documents or not make a down payment, then to apply for a loan with government support, these conditions must be met.
The borrower must meet the following requirements:
- age of at least 21 years and at the time of repayment of the last payment not more than 65 years of age;
- At least 6 months of work experience at the last place of work;
- absence of children under 6 months for women;
- presence of a military ID for men of military age.
