Nowadays, not all people can purchase a completely new car, so they began to buy cars more and more often. Today, modern residents of megacities make purchases on credit, and not for cash in much larger quantities than earlier. Even bo cars are now purchased, taking money on credit from the bank.Having evaluated the current situation, most banks have developed special programs for the issuance of car loans for BU cars to interested citizens. The amount of car loans is relatively not large, about 15 thousand US dollars. Therefore, every resident of the country, having a monthly, constant income of $ 900 to $ 1200, may well afford to make such a loan for the purchase of a car boat. However, when receiving car loans, you may encounter a number of restrictions. Now a little more about them.
Taking a car loan for the purchase of a car of a car, for their own reinsurance, they established a restriction in choosing a seller. So the car can be purchased only in the car market or at official dealers. Therefore, if you are going to purchase a car from a private person, then the bank will not give a loan for this transaction. And all because there is a great risk of non -targeted use of funds issued by the bank. In addition, making a purchase at the car dealership, legal risks are significantly reduced, bankers note.
The following important restriction is the age of the car of the car. In each individual bank, these figures are different, so when going to arrange a car loan, you should visit the bank branch and find out the details. I would like to note that there are banks in which there is no such age limit at all.
The procedure of car loan itself is quite simple and transparent. The client selects a mileage car and comes to the bank branch with a package of the necessary documents that are collected depending with the car loan program you have chosen.
A financial institution will be issued to provide you with a car loan only in a couple of days, while you will be notified about it. After the decision is made, a loan agreement is concluded. The borrower provides the bank for the purchase and sale of the machine, as well as a copy of the passport of the purchased vehicle with the mandatory mark “removed for sale”, certified notarized. This document will be in the bank branch until the borrower is fully repaid car loan. After that, the client must make a first fee and draw up a pledge agreement with the bank and only then the bank will issue a car loan.
Car loan of cars is most often issued for a period of not more than three years.
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