Finally, in Ukraine and the car was not a luxury but a means of transportation,
writes " KP"
It is not surprising that among all types of loans most quickly after
crisis revived automobile loans. For the year auto market grew by almost
twice, and so far in debt is purchased every ten sold
machine. What additional costs borne by the buyer when you make a loan?
Can the borrower choose the insurance company itself? When should
take advantage of leasing? These and other questions answered Deputy Chairman
Board of the Bank of Cyprus Ivan Kuzovkin, head of car loans
OJSC Astra Bank Alexander Gaidar and marketing director of the Group of companies "AIS"
Julia Ptitsyn ideal borrower - Under what conditions can take a loan today
to buy a car? Ivan Kuzovkin: - A potential borrower must have a
official place of work and official income. As evidence
We accept pay not only help the salary, but discharge
discounted. Our clients - people who have a stable monthly income.
Unmarried borrower must earn at least 3 thousand UAH. a month to
have the opportunity to pay credit to low-cost car. If the person
family (wife and child), the official income must be at least 5 thousand UAH.
- What, in your opinion, is the perfect borrower and the bank puts a limit
Age? Alexander Gaydar: - The ideal borrower - a young man
25 years old, married, employed, officially, the incumbent is not
below the senior manager in the risk-free field. Ideally, the client
makes an advance half the cost of the car and takes out a loan to
little time. With regard to age restrictions, the potential
borrower must be no more than 60 years at the end of loan period.
Minimum age - 21 years, but we can give credit and 18-year-old, if
he has employed and sponsorship of one of the official working parents.
In any case the bank to suit each client individually. We tried
not refuse, and if the client for some parameters is not suitable, we seek
compromise of credit conditions. A man has himself determines
he needed a loan or not. - How to date interest
rates and maximum loan term? Alexander Gaydar: - Average interest rate
- 22-24% pa in UAH, in general, rates vary between 20-30%.
The maximum loan term - 7 years on cars and vehicles 5 years
Chinese production and the CIS. But on average, borrowers pay a loan
for 3 years, respectively, at the expense of cutting back on payments. Ivan Kuzovkin:
- We have a maximum term of 5 years of credit for cars and 3 years on machine
manufactured in China and the CIS. The nominal rate is 21, 9% in
UAH plus a one-time commission. The average annual effective interest rate
varies between 22-24% per annum. Julia Ptitsyn: - The financial "leverage"
- The best help for the buyer when purchasing a car. If the buyer
can not pay immediately the full cost of the car, the availability of favorable credit
program can persuade a client from one brand to another. Therefore, companies
together with its partner banks reflect on joint programs to support
buyers who are more profitable standard credit terms.
We recommend that you pay attention to this special partnership program
lending and leasing. Among them are long-term (up to 7 years) and interest-free
loans. Profitable than renting - an alternative to car loans are often called
lease. In some cases, this tool can be advantageous to the usual credit?
Julia Ptitsyn: - This experience came to us from Europe. After the contribution of
35% of the cost of a car leased for three years at 16%
per annum in local currency. In this case our client will not have their own
register a car, pay the transport fee, to conduct inspection
and so on - all of these costs are included in the lease payments. In addition, leasing
company ensures that the car was repaired in time. Despite
the fact that the leasing scheme is most useful and interesting primarily for buyers
legal entities, do not forget about the physical persons. Enough
most of our clients are entrepreneurs who are considered
just as individuals. They usually have a small fleet of one to three
vehicles, mostly commercial. And these customers are
interested in leasing scheme, because the processing of a loan the bank considers
such a vehicle subject to collateral at risk. Moreover, due to
tax benefits for leasing companies is more profitable loans. - When
you sounded conditions it turns out that for three years, the customer pays
More than 80% of the car. What has this money at the end of
three years? Julia Ptitsyn: - Usually by this time in big companies
already selling an old car and make out his new one. If the client continues to
use the machine, he may redeem it for the residual value. - How to
known to require processing of a loan amount, far exceeding the required
the first installment. What additional costs borne by the buyer when you make
credit? Julia Ptitsyn: - The question of how much money you need at once - for clients
one of the principal. When buying a car, say, 100 thousand UAH., 4 th
UAH. will go to the registration, about 6 thousand - for insurance, plus about 500 USD.
to "avtograzhdanki." Possible commission of the bank - 1-2% of the cost of credit,
that is about 700-800 USD. Thus, when his need to have 35 thousand
UAH. the first payment, plus another 10-12 thousand UAH., total - 47 thousand Alexander
Gaydar: - Given the design of collateral, the commission and insurance, in addition
the first installment will take another 15 thousand UAH. By the way, the law
confirmed that the bank is obliged to hand over customer credit granting tentative
calculation of the cost of credit, presented in an understandable form - in the form of a table.
"Insurance - it's the same pizza" - the lion's share of additional payments is
insurance. Can the borrower choose the insurance company? Ivan
Kuzovkin: - Of course, the client may choose any insurance company.
However, practice shows that borrowers are primarily oriented
the price. Indeed, one can always find cheaper insurance, but it is not
means that it will be equivalent to that which is more expensive. I would compare the present
Hull pizza product that you are doing yourself. Agree: the final price
product depends on what you put there, because the crust is approximately
equally, but the stuffing - is different. By analogy, the price of insurance depends on
what is inherent in an insurance policy. Today, any self-respecting
a bank makes the accreditation of the insurance companies, which includes the study of
their financial statements. Bank analysis of this reporting, based on
which concludes that the reliability of the insurer. We do not set ultimatums:
Go to this company, otherwise we will not give you credit! We only recommend
list of insurance companies based on their study of financial statements
stories of cooperation and contractual relations, previous payments to clients.
- Since we are talking about insurance, what would you recommend to lay
franchise in its design? Julia Ptitsyn: - I believe that the franchise for all
risks, except for theft, it is advisable to set the order 0, 5-1%. If this is
a small scratch or small flake, it is possible to agree on the spot
and disperse, rather than wait for the 3:00 traffic police, insurance representative. In addition,
design of such insurance is much cheaper. Ivan Kuzovkin: - On
I think that on the glass design - a windshield, headlights, mirrors -
franchise must be zero. For other risks, it can be 0, 5%. Alexander
Gaydar: - I - for a zero deductible. Only in this case, a man once
paying for insurance, can be sure that absolutely any waste of his
will be restored. - Is there a problem today bad loans
and how banks decide it? Ivan Kuzovkin: - Due to the deliberate policy of the bank
customers who refuse to pay, is becoming less and less.
And the crisis is already taking place: in 2009, our customers lost wages and work
now these situations are becoming increasingly rare. Alexander Gaydar: - Bank
always use all opportunities for the client to pay. Take away
collateral and sell it - this is not our business. But customers should not be
think that if he picked a car mortgage, then all the problems with
loan settled. It is not. The bailiff sells car
but as the second-hand cars after the crisis has become much cheaper, the proceeds
funds are generally not sufficient to repay the loan. And this outstanding
amount is retained by the client.