Saturation of the Russian car market and the development of banking the system has allowed many people to fulfill their dream – to acquire car or decide on its purchase.
The easiest way to fulfill your desire and buy the car you like – contact the bank or its credit department, located at the car dealership.
Provide the necessary documents for consideration of the application, the benefit of getting a car loan in most cases is enough passport and driver’s license and after positive decisions to issue a car purchase.
At first glance, a very convenient opportunity to be behind the wheel own car and feel like not a pedestrian, but driver and comfortably move along the roads of the city and beyond the limits.
But any action has two sides of the coin or, in other words, its pros and cons.
Contents
Benefits:
- Money at the right time. Main advantage – it’s certainly that you bought a car without having everything you need the amount of the cost in your hands, and you did not need save money for a long time. Moreover, inflation and others factors, as a rule, manage to negate all your efforts. That a certain amount is worth today, in a year or two significantly increase in price. Car loan allows you to buy a car now, and not put off for an indefinite bright tomorrow.
- Car loans – the cheapest type of loan in Compared to mortgage or consumer. In most automakers compensate for a significant portion of cases interest rate, especially when applying for a loan in a foreign currency. Low rate allows for lower financial payments buy a new car or replace the old with a new one with improved characteristics and other positive aspects.
- Comfort. Ownership of a car allows you to get to the place with great comfort and in less time work and back. There is also an opportunity to find another job with higher pay, where you need to fulfill your duties the presence of a car.
- Do not forget the possibility of trips to nature outside the city or take a trip during your vacation by car and not depend on public transport and the need to adjust under the schedule.
Perhaps these are all the advantages (pluses) of buying a car for car loan system, but the disadvantages (minuses) are much greater.
Disadvantages:
- Monthly payment. The main minus car loan – this is the need to make N amount of money in quality monthly payment to repay its obligations to credit institution. Even if you bought a brand new car, get ready for extra costs: regular fuel costs, maintenance and purchase of consumables materials.
- CTP and CASCO. Another expense item – compulsory acquisition of the insurance policy and registration of the contract CASCO, and if your driving experience is less than three years, then insurance contributions will result in a significant amount. When buying a new car at the time of signing the acceptance certificate its value decreases by 20%, and you have not even managed to get behind the wheel. AT over the next three years, its value will decrease by another 15%, but you will continue to pay the cost of the car declared at the time of buying. In this case, a car loan can be considered as expensive rental, in which you bear only the costs, but do not actually own the car. If you want to sell or exchange for a new model, you do not reduce your debt, and in most cases, increase it.
- Accident. Car rides are fraught with themselves possible unpleasant surprises – various emergencies and accidents. In the event of an accident, the need for a monthly contribution to the bank added and the need for repairs.
- Buying a car on credit is justified only when the machine is necessary for work and allows you to significantly increase their income, in other words: the machine must feed itself and you.
If the family has a need for a car and there is confidence in the ability to pay for a short period for a loan – why postpone the purchase until later?
In other cases, you need to weigh all the pros and cons of your deed.
Today’s financial well-being of a car purchaser in a loan is not always guaranteed for 3-5 years loan term. In real life, our wish rarely passes into valid.
Changing life priorities, needs and real family situation. If you are willing to take risks and live today and now, you can afford to spend on the coveted car – this is one point view.
With a balanced approach to acquisition, you need a sound analytical calculation: how much in annual terms will cost you driving comfortably and how does this compare with yours income.
Is there any reason?
