Simply amazed - how many different options for interest rates ( and therefore
spending the borrower) may be on the same brand of car !

The nuances of this situation investigated Prostobank.ua Contrary to custom, to
This time we have finished the text of the tables - and almost with them and get started. Exactly
in the tables is the main launching pad of our study.
The thesis of this start is this: at one and the same new foreign car payments and banking
credit and insurance related to credit (recall that the borrower does not
can independently choose the insurer pledged cars) may differ
in half. For example, we took the car price equal to $ 22 000 - less
is the new Mitsubishi Galant GX 2009 - and studied the proposals from three banks
who have special lending programs from the official Mitsubishi
dealer of the brand (in addition to being the fourth institution, Volksbank has
now share in Mitsubishi, but it ends up is March 31, 2010).
Because our goal was not the most complete investigation of all possible
the market of credit and credit-safety-payments for Mitsubishi Galant -
but only a basic illustration of the thesis paper - we did not take the offer
banks, lenders Mitsubishi not exclusively, and among a wide range of cars
(For this Japanese brand is credited almost each of the two dozen
Banks issuing car loans in Ukraine). In any case, you can believe
that other banks also offer a surprisingly wide range of real credit
expenditures for the auto brand. A full comparison of the existing section
the market of real credit and insurance payments for specific brands of cars
(Several price ranges) - will be the subject of a future article
our portal. Thus, confirmation of our thesis are three tables,
which count all the fees associated with annuity loans for auto
three banks with special programs for the Mitsubishi. Namely, the payment of one-off,
monthly payment loan, and, finally, payment of annual belay.
The first table shows the payments for the new Mitsubishi Galant for advance payment
30% in the second - with 50% advance payment, in the third - with 70% advance payment. For simplicity,
understanding of the hryvnia payment we counted in dollars at the rate of 1 USD = 8
UAH. Also, for convenience of calculations we have introduced an additional parameter of the conditional:
monthly payment on the loan, plus one-twelfth of the safety-payments
for the second year of credit (as if you were paying on the loan and at the same time
monthly amount set aside for insurance for the following year loan).
This option - you can call it a "real average payment of first year
Lending "- pointing to the last column of each article. According to this parameter
rows of tables and sorted. Table 1. Map of conditions on loans MITSUBISHI
According to the Bank 3/15/2010 * Term Advance Real. rate,% pa Insurance
VTB Bank 5 years 30% 22 77% 5 5% of Casco, 800 USD. CTP 3 years 30% 22 28% 2
years 30% 22 4% 1 year 30% 22 4% Astra Bank 7 years 30% 26% 8% 73 Casco, 3%
life insurance, 800 USD. CTP 50% 24 73% 70% 21 73% 5 years 30% 24 66%
50% 22 66% 70% 18 66% 3 years 30% 24 66% 50% 22 66% 70% 18 66% 30% 2 years
15 56% 50% 11 56% 70% 11 56% 1 year 30% 5 54% Universal Bank 5 years 30% 26 17%
8% of Casco, 250 USD. CTP 50% 24 17% 70% 24 17% 3 years 30% 25 97% 50% 23 97%
70% 23 97% 2 years 30% 17 21% 50% 13 21% 70% 3 99% 1 year 30% 6 99% * Data
study of "Prostobank Consulting" Table 2. Payments for MITSUBISHI
GALANT GX 2009 price of $ 22 000 with 30% advance payment. Sort by the last column.
ADVANCE 30% Bank Payments disposable Term: advance, disposable. com., insurance
the first year + $ 1,200 (stamp duty (1%), penny. Fund (3%), a collateral agreement
(0, 1%), MREO (2500 grn.) Transp. fee, the notary) Payments on the loan monthly.
(Annuity) payments: insurance, for the second year conditional option: monthly. payments
+ 1 / 12 of insurance for the second year of VTB Bank 5 years $ 9450 $ 420 $ 1300 $ 530
Astra Bank 7 years $ 10 $ 200 $ 400 $ 570 2000 Universal Bank 5 years $ 9600
$ 465 $ 1800 $ 615 Bank Astra 5-year $ 10 $ 200 $ 450 $ 620 2000 Astra
Bank 3-year $ 10 $ 200 $ 575 $ 645 2000 Universal Bank 3-year $ 9 to $ 600
625 $ 1800 $ 775 Universal Bank 2 years $ 9600 $ 765 $ 1800 $ 815 Astra
Bank 2-year $ 10 $ 200 $ 750 $ 820 2000 VTB Bank 3-year $ 9 $ 450 $ 580
1300 $ 690 VTB Bank 2 years $ 9450 $ 790 $ 1300 $ 900 Astra Bank 1 year
$ 10 to $ 200 in 1325 Universal Bank 1 Year $ 9600 $ 1335 VTB Bank 1 year $ 9450
$ 1435 Table 3. Payments for 2009 MITSUBISHI GALANT GX costs $ 22 000 with
50% advance payment. Sort by the last column ADVANCE 50% Bank Term Withdrawal
Disposable: advance, disposable. com., insurance for the first year + $ 1,200 (stamp duty
(1%), penny. Fund (3%), a collateral agreement (0, 1%), MREO (2000 grn.) transp.
fee, the notary) Payments on the loan monthly. (Annuity) payments: insurance
for the second year conditional option: monthly. payment + 1 / 12 of insurance for the second
Year Astra Bank 7 years $ 14 $ 400 $ 280 $ 450 2000 Universal Bank 5 years $
14 000 $ 320 $ 1800 $ 470 Bank Astra 5-year $ 14 $ 400 $ 310 $ 480 2000
Astra Bank 3-year $ 14 $ 400 $ 400 $ 570 2000 Universal Bank 3-year $ 14
000 $ 435 $ 1800 $ 585 Universal Bank 2-year $ 14 000 $ 525 $ 1800 $ 675
Astra Bank 2-year $ 14 $ 400 $ 520 $ 690 2000 Table 4. Payments for MITSUBISHI
GALANT GX 2009 price of $ 22 000 with 70% advance payment. Sort by the last column
ADVANCE 70% Bank Payments disposable Term: advance, disposable. com., insurance
the first year + $ 1,200 (stamp duty (1%), penny. Fund (3%), a collateral agreement
(0, 1%), MREO (2000 grn.) Transp. fee, the notary) Payments on the loan monthly.
(Annuity) payments: insurance, for the second year conditional option: monthly. payments
+ 1 / 12 of insurance for the second year of Astra Bank 7 years $ 18 $ 700 $ 155 $ 2000
325 Universal Bank 5-year $ 18 $ 400 $ 190 $ 340 1800 Astra Bank 5 years $
18 700 $ 170 $ 2000 $ 340 Astra Bank 3-year $ 18 $ 700 $ 220 $ 390 2000
Universal Bank 3-year $ 18 $ 400 $ 260 $ 410 1800 Universal Bank 2 years
$ 18 $ 400 $ 290 $ 440 1800 Astra Bank 2-year $ 18 $ 700 $ 310 $ 2000
480 How to make readers, at least briefly looked upon the table,
even when the same term loans and advances (eg, popular
balance of 30% down payment, term of 5 years) the "real average first year payment of credit"
from three banks account for a wide range: from 530 to 615 dollars a month.
In the three-year term and 30% advance payment difference is even greater: from 645 to 775 dollars
per month. And even the initial payments differ seriously from 9450 to
10 200 dollars. As you can see a considerable role in this difference are
belay payments, which are based, arbitrarily say, a bank account for a
8% + 3% of hull life assurance, while bank B - 5, 5% in the absence of comprehensive insurance
life insurance. The difference in the first two years of this car loan
beyond impressive - from $ 2,000 a year, the bank A to $ 1,300
per year, the bank B. But when the division of safety-payments for 12 to
calculate the "real average pay" the difference is somewhat offset by insurance.
And most importantly, for long-term loan in each subsequent year payments
Casco and life insurance (with the latter) is significantly reduced.
Can not be said about credit payments under the annuity. Why not depend on complex
figures themselves lending rates and loan commissions (except sarcastically
observe purely marketing sophistication pay structures and numbers betting
to confuse potential borrowers)? How the bank calculates rates of primary
component installed by the bank lending rates, including for
car loans - is the cost of attracting Resource Bank. In addition,
laid in the rate of risk for a particular loan product,
operating expenses related to its sales and service, the amount of reserves
formed under the credit risk of the bank. And most importantly - the resulting 'outcome'
compared with market supply bank competitors. "Some scatter
prices in the credit market is primarily due to the fact that banks have different
Rates on resources, different structure of the portfolio and borrowings.
In addition, various financial institutions to work with different segments of customers.
The higher the interest rate on the loan, the less reliable is the profile of the borrower,
and thus more and the risks to the bank on this loan product, "- explains
Anton Shaperenkov, director of product management, retail
VAB Bank's business. In addition to all of the above, to financial institutions
Collaborating with the specific car dealers, there are other additional
parameters affecting established with the loan rate. "Basically, all
depends on the conditions of cooperation. There is a condition exclusive to that
car dealer agrees to reimburse the bank partner of the interest rate on
loan. Some agreements also involved an insurance company,
which can also pay the bank interest rate of compensation "
- Says Anton Shaperenkov. Postscript From such a detailed explanation
Bankers, borrowers can make two simple conclusions. The first conclusion - exclusive
program banks with specific car dealers are likely to offer more
Cheap rates than loans' cars in general. " And even if the car dealers
in the price of cars lay refund to the bank - keep in mind that at all low
likely to buy your new car with a decent warranty period and the level of
service at a price that would be much cheaper than the price of the official
dealer. A second conclusion - insurance payments may be less for a loan
stably in the last year of a major bank with huge capital
(Such as the bank has the resources to lending, rather than attracts them
by extremely high price, and therefore can not "play" in the refund
insurers). Perhaps, therefore, in conjunction with credit insurance
Mitsubishi Bank VTB 30% upfront at the moment is one of the most
attractive in the Ukraine. However, this assumption is not serious
regularity of the market and needs detailed verification of each
case.

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