Auto loan "Alfa-Bank": conditions and features, interest rate and customer reviews

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

"Alfa-Bank" is the largest commercial bank in our country. It was created twenty-seven years ago in Moscow. The main owners of the credit institution are Mikhail Fridman, Alexey Kuzmichev, German Khan and Petr Aven. The latter is also the president of the bank. At present, Alfa-Bank is a universal credit institution that provides a full range of banking services. It serves more than fifty-five thousand corporate clients and over four million individuals. The credit institution accounts for more than one percent of all deposits of citizens of our country. The bank has a huge branch network covering most regions of the country. Today, three hundred and forty of his offices are open in our country and abroad.

"Alfa-Bank" occupies top positions in the banking sector of the country, which confirms itsratings. In 2009, the financial magazine Euromoney named Alfa-Bank the best bank in our country. The Bank is a Russian credit institution providing we alth management services to private and corporate clients. In the rating of banks in the capital, this bank is in sixth place.

"Alfa-Bank" provides a wide range of services to individuals, which include deposits, loans (mortgage, car loans, consumer loans), currency exchange, money transfers and much more. The commercial bank is actively involved in charity.

What is a car loan?

According to statistics, today every fourth citizen of our country has a car. Seventy-five percent of the population has not yet acquired their own vehicle, which means that the relevance of banking products that facilitate the purchase of cars does not lose its strength. You can buy a car using a car loan. A car loan is money that a customer borrows from a credit institution in order to purchase a car. A feature of the loan is the registration of collateral in the form of a car.

Key characteristics of a loan secured by a car is its value, expressed as a percentage, and the repayment period. When contacting the bank, the client must carefully study the commissions for the services of a credit institution, pen alties in case of late payments. A car bought with a loan can be used, but it cannot be sold, traded, exchanged or donated. The bank keeps the title of the vehicle.

A car loan today is very easy to get. This can be done at the car dealership where the car is purchased, by contacting employees representing the interests of commercial banks, or at a credit institution. The disadvantage of applying for a bank loan is the limited offers. A car dealership, as a rule, works with only a few commercial banks, and the cost of a loan from them may be higher than in banks that are not represented in car dealerships. It is much more profitable to issue a car loan by comparing all the offers presented on the automotive market. After all, such a large purchase as a car, a person makes once every three or four years.

Requirements for the borrower

According to reviews of car loans, Alfa-Bank makes the following requirements for borrowers:

1. The borrower must be a citizen of our country over the age of twenty-one.
2. The borrower must have a continuous work history of more than three months.
3. Client must have a mobile phone and a landline work phone.
4. The borrower must have a permanent registration in the region where there is a branch of Alfa-Bank.

For payroll card holders

Terms for granting a car loan by Alfa-Bank to participants in salary projects:

1. A loan is provided for the purchase of a new or used car.
2. The loan amount should not exceed 5.6 million rubles.
3. The minimum loan rate is 11.49 percent.
4. Loan term must not exceed six years.
5. The interest rate on a car loan at Alfa-Bank does not depend on the availability of insurance.

		Loan amount, rubles	Down payment, %	Rate, %	Credit term
New car	CASCO	Four hundred thousand to five million six hundred thousand	10	11, 49 - 14, 49	from one to six years
	Without CASCO	from four hundred thousand to up to one and a half million		13, 99 - 15, 49	two to five years
Used car	CASCO	from one hundred and fifty thousand to four million		12, 49 - 15, 49	from one to six years
	Without CASCO	from one hundred and fifty thousand to one and a half million		14, 99 - 16, 49	two to five years

Standard loan terms

General conditions for granting a car loan by Alfa-Bank:

1. A loan is provided for the purchase of a new or used car.
2. The loan amount should not exceed three million rubles.
3. The minimum loan rate is 14.99 percent.
4. Loan term must not exceed five years
5. The interest rate on an Alfa-Bank car loan does not depend on the availability of insurance.

		Loan amount, rubles	Down payment, %	Rate, %	Termloan
New car	CASCO	Four hundred thousand to three million	15	14, 49 - 17, 49	from one to five years
	Without CASCO	Four hundred thousand to up to one and a half million		17, 99 - 18, 99	two to five years
Used car	CASCO	from one hundred and fifty thousand to two million		16, 99 - 18, 49	two to five years
	Without CASCO	from one hundred and fifty thousand to one and a half million		18, 99 - 20, 49	two to five years

Employees of partner companies

Terms for granting a car loan by Alfa-Bank to employees of companies that are partners of a credit institution:

1. A loan is provided for the purchase of a new or used car.
2. The loan amount should not exceed 5.6 million rubles.
3. The minimum loan rate is 13.49 percent.
4. Loan term must not exceed six years
5. The interest rate on an Alfa-Bank car loan does not depend on the availability of insurance.

		Loan amount, rubles	Down payment, %	Rate, %	Credit term
New car	CASCO	Four hundred thousand to five million six hundred thousand	10	13, 49 - 16, 49	from one to sixyears
	Without CASCO	Four hundred thousand to up to one and a half million		15, 99 - 17, 49	two to five years
Used car	CASCO	from one hundred and fifty thousand to four million		14, 49 - 17, 49	from one to six years
	Without CASCO	from one hundred and fifty thousand to one and a half million		16, 99 - 18, 49	two to five years

To find out what is more profitable (car loan or consumer loan), you need to compare the conditions. Both lending programs are popular at Alfa-Bank due to favorable rates, a transparent interest rate scheme, and convenient ways to manage a credit account. The reviews especially note that the client can even apply for a car loan for a used car at Alfa-Bank.

Consumer loan or car loan

Cash can be taken from Alfa-Bank in the amount of three million rubles for a maximum period of five years. Loan rates start at 11.99 percent per annum.

A targeted loan secured by a car is issued for the purchase of vehicles and is issued for a long period, up to six years. The maximum loan amount is 5.6 million rubles. Loan rates start at 12.49 percent per annum. To apply for a loan, you must make an initial payment of at least ten percent of the amount of the future loan, which is paid at the time of buying a car. According to reviews about a car loan in Alfa-Bank , it differs from a consumer loan in the need for transport insurance.

It is often difficult for a person to make the right decision. Which loan is more profitable to issue: a consumer loan or a car loan at Alfa-Bank? You can calculate the cost of purchasing a car using a calculator on the official website of the bank. For the calculation, you need to specify the loan amount, term. After that, a person will be able to find out the size of the rate and the size of the annuity payments. The calculator is very convenient, according to people who apply for a car loan at Alfa-Bank. It allows the borrower to decide which loan is better to apply for the purchase of a car.

Methods of obtaining loans

There are several ways to apply for a car loan at Alfa-Bank:

1. Filing an application at a bank branch.
2. Design via the Internet. You can find out how to get a car loan at Alfa-Bank and the terms of the loan by filling out the form on the official website of the bank. It must indicate the data of the internal passport, place of work, contacts (phone, mail).
3. Apply by phone.

Applications are considered within a maximum of two days thanks to the operational scoring mechanism in Alfa-Bank.

Loan repayment methods

There are several ways to repay a car loan at Alfa-Bank. The client has the right to choose the most convenient channel for repaying a car loan:

1. Payment terminals.
2. Reception pointspayments from bank partners.
3. Internet banking.
4. Mobile banking.
5. With the help of transfer between cards.
6. At a bank branch.
7. By calling the call centre.
8. Auto payment (regular card payment once a month).
9. ATMs, including cash machines.

Early repayment

Alfa-auto bank card, issued by a credit institution after the loan is issued, allows you to repay the loan ahead of schedule in any amount. The amount of early redemption must be at least twenty-eight thousand rubles or one thousand dollars. If the client has an amount equal to the balance of the debt to the bank on the loan, then he can close the debt in full. There is no early repayment pen alty.

The client simply replenishes his account, and the repayment is made automatically on the day the annuity payment is debited. To make an early repayment, you must fill out a notification form for this process. The notice must be sent to the credit institution no later than three working days before the date of the next payment debit.

If the client has made an early repayment of the loan, then the information service of the credit institution will inform him of the amount of the adjusted loan payment and provide an updated schedule of future interest payments.

Using the tool for early repayment of a car loan in Alfa-Bank, the client adjusts and controls his payments, saves oninterest on the loan.

Delay pen alty

If the borrower, for a good reason, could not make an annuity payment on time or made an amount smaller than specified in the loan agreement, then he must pay a pen alty for late repayment of the loan in the amount of one percent per day on the balance of the overdue debt. The amount of the missing payment must be paid on any next day. The pen alty will be charged on the amount of the balance of the loan debt (calculated based on the number of days of delay in payment).

Car loan refinancing

Alfa-Bank has very favorable conditions for refinancing any loan:

1. Loan rate from 11.99 percent per annum.
2. Loan amount up to one and a half million rubles.
3. Maximum loan term is five years.
4. You can refinance up to five loans at the same time, including credit cards.
5. The ability to receive cash when applying for a new loan that exceeds the total debt of the client on refinanced loans.

In addition, the loan rate does not depend on the registration or refusal of insurance.