How realistic to get a car loan without CASCO

According to statistics, about every 8th today is the owner of the car. Growth rates and increasing sales volumes make it possible to say that in ten years already every 5th will have a car. In this regard, a car loan without CASCO is gaining special popularity among those who wish to save their money.

Today, credit is, above all, a target loan, which is most often transferred to the seller of the machine. The buyer, in this case, signs an agreement on the pledge of property as security for the fulfillment of obligations. Russian law does not oblige you to insure yourself, but those who have already passed this way, say that it is almost impossible to get a loan without CASCO on a car. Such actions of banks are fully justified, because they can not be sure of your consciousness and responsibility. In the event of damage to the machine or its complete destruction, the insurance company will fully reimburse the remaining loan amount.

Some banks still make concessions to their customers and provide additional programs for which you can get a car loan without CASCO, but there are some disadvantages here. Firstly, the amount of the initial installment significantly increases, and secondly, a guarantor may be required; third, the loan repayment period is likely to be reduced so that the risks are minimal. Most of these factors still agree to insurance. It is worth noting that CASCO unlimitedly allows you to pay for any insurance event, but its price can reach 10% of the cost of the car, and sometimes more if the car is second-hand. To date, several large Russian banks in joint work with insurers are providing such loans.

Let's talk about the minimum requirements for the borrower, which are made in order that he could get a car loan without CASCO:

1) You must have Russian citizenship.

2) You must be at least 21 years old at the end of the loan term.

3) The constant income is not lower than 8000 thousand rubles a month.

4) The total length of service for at least a year, and the last place of work - at least three months.

5) It is desirable to have a landline phone.

These basic requirements to the borrower are made practically in all banks. In each individual case, you may be subject to additional conditions. If you go through all the above points, it's time to collect a package of documents, which includes:

1) A document confirming your citizenship (passport).

2) The second document, for example, a driver's license.

3) A copy of the workbook certified by the employer.

4) Reference 2-NDFL or other proof of income, issued on the form of the organization.

On the basis of these documents, calculations are made, the veracity of the information provided is verified. Subsequently, a decision is made to grant or refuse to receive a loan. It is worth noting that when choosing a car loan without CASCO, you should be ready to provide additional documents. In most cases, they are asked to bring one, and preferably two, guarantors. As we see, lending is a very complicated process, especially if you are going to do without CASCO. In this case, you decide, burden yourself with additional problems and risks or pay a little more and live peacefully.