Is it worth taking a car loan from Cetelem Bank: customer reviews, interest rate

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

Cetelem Bank is a subsidiary of Sberbank of Russia. This bank carries out its activities based on the issued license, and today it is represented in seventy-seven regions of the state. This company offers a wide variety of car loans. At the same time, it is interesting to note that most of the programs for customers have been developed within the framework of joint cooperation with vehicle manufacturers. Let's take a closer look at the advantages and conditions of lending at this bank, from the reviews we will find out what customers think about it, and also find out whether it is worth taking a car loan there.

Reviews about a car loan at Cetelem Bank will be considered in this article.

Main advantages of Cetelem Bank

The main advantages of this financial institution are:

• Almost instantaneousmaking a decision on the issuance of car loans, which on average takes from fifteen minutes to one day maximum.
• Car loans are issued using a minimum package of documents, which includes a passport of a citizen of the Russian Federation along with a driver's license.
• Signing a loan agreement at the request of the client can take place directly in the car dealership, which is a partner of the bank.
• Various debt repayment options, as well as a large number of quick customer service outlets.

Interest rates for car loans and Cetelem Bank services

According to reviews, a car loan from Cetelem Bank LLC is popular.

Conditions are different. So, the loan amount, as a rule, varies from the tariff plan and the chosen program. The minimum amount is one hundred thousand rubles, and the maximum is five million. The term of issue is granted from one to five years. The first installment should start from twenty percent. Consider the interest rate on a car loan from Cetelem Bank.

From this year, there are several programs designed for both the purchase of new cars and the purchase of used vehicles. Thus, the following programs are distinguished:

• "Standard". Under this scheme, the minimum car loan amount is five million rubles. At the same time, the range of annual rates ranges from twenty-three to twenty-seven percent. The required minimum initial deposit is twenty-five percent.
• "Express". The maximum amount of a car loan in this programis one and a half million rubles. The range of annual rates results in a minimum of twenty-two percent or more. And the minimum initial payment, as in the previous case, is required in the amount of twenty-five percent. Car loan insurance at Cetelem Bank is mandatory.

With residual value. A car loan under this program is issued in the amount of up to three million rubles. The range of annual rates ranges from twelve to thirteen percent. As for the minimum initial deposit, it is twenty percent

It should be emphasized that under the Express program, Cetelem Bank issues car loans in smaller amounts, but their processing is much faster. Among other things, for each program, individual tariff plans are offered, such as "Reliable", "Online", "Easy", "Standard", "Favorable" and "Affiliate". Car loan reviews at Cetelem Bank abound.

For each tariff plan, interest rates are calculated depending on the size of the first installment. Through the assistance of car manufacturers, the following programs are offered:

• For the Skoda and Audi brands, the applicable annual rate is twelve percent.
• For cars like Opel, Suzuki, Mitsubishi, Chevrolet and Gilly, twenty-one percent.
• The annual rate for Hyundai and Kia is twelve and a half percent.
• As for the Ford brand, in this case, the range of rates from one to twelve is usedpercent.
• For Lifan - twenty-one percent.
• For Lada and Volkswagen - thirteen percent per annum.
• UAZ, GAZ - fourteen percent.

Interest rates for car loans are calculated in accordance with the state subsidy program. In the above data, the rates are also indicated taking them into account.

There are also employee reviews about a car loan at Cetelem Bank.

Vehicle and customer requirements

To qualify for a car loan, a customer must meet the following description:

• A person must be a citizen of the Russian Federation.
• Required to have a permanent residence permit in the region where the bank branch is located. The presence of a temporary residence permit is suitable only for military personnel, but at the same time, its duration should not end before the term of the loan agreement.
• Customer must be between eighteen and seventy-five years of age.

• It is important that the work experience is at least one year, and in addition, a person must work at the same place for at least six months.
• You should also have a positive credit history. The terms of a car loan at Cetelem Bank can be clarified on the official website.

You can buy a new car under various programs without any restrictions. But it should be emphasized that the program of state car loans of a preferential type applies only to cars worth up to one million rubles. Auto, costwhich exceeds the specified amount are purchased at the standard interest rates of this financial institution, excluding discounts. This is confirmed by reviews of a car loan at Cetelem Bank.

Loans are issued for used cars if the vehicle is not older than five years and produced by a domestic manufacturer. In the event that the car was produced by a foreign company, then its age for obtaining a loan should not exceed ten years.

How to get a car loan from Cetelem Bank?

Design

The car loan procedure includes various stages:

• Collecting the initial documents that are necessary for a positive decision from the bank on issuing a loan.
• Filing an application and then waiting for a preliminary decision. As a rule, it takes no more than one day for Cetelem Bank to receive a response. In some situations, decisions are made in fifteen to twenty minutes.
• The process of getting acquainted with the partners of the company from whom you can buy a car.
• Choosing the right vehicle and interior.
• The procedure for agreeing the brand, model and cost of a car with a credit institution.
• Concluding an agreement with the seller of equipment for the sale of a vehicle.
• Making a down payment along with obtaining the necessary papers from the seller.
• Conclusion of an agreement on car loans at Cetelem Bank. Collateral conditions are fixed in the loan agreement.
• Receiving the ordered car, its insurance and registration.
• Transfer of creditorganizing additional documents.

Reviews on the car loan of Cetelem Bank LLC are presented at the end of the article.

Package of required documents

In order to submit an initial application to the bank, the following documents will be required from the client:

• Passport of a citizen of the Russian Federation.
• Driver's license.
• If you buy a used car, you will need a certificate of experience, as well as the amount of the official salary of the borrower.

As part of the conclusion of the loan agreement, the following documents are also attached to the above documents:

• Providing a copy of the vehicle purchase agreement.
• Certificate in the form of an invoice on the cost of the machine and additional services provided.
• Certificate that will confirm the payment of the down payment.

After the vehicle registration process, the bank must submit:

• Original vehicle passport.
• Copy of CASCO insurance policy.

Reviews of employees about a car loan at Cetelem Bank are of interest to many. We will also consider them.

What information does the contract include?

This document includes:

• Information about the financial institution and the borrower, including various details, such as passport details with an address and contact phone number.
• Information about the amount of the loan, and in addition, about its term and interest rate usedrate.
• Purpose of lending, use of funds Cetelem Bank has the right to control.
• Information about the collateral, that is, about the vehicle, indicating the basic parameters of the equipment, such as, for example, brand, model, number, etc.
• Information about the rights and obligations of the parties, as well as possible actions in situations of unforeseen events, and in addition, about options for resolving certain disputes.

Car loan life insurance at Cetelem Bank

CASCO insurance policy is issued at the expense of the owner of the vehicle. At the request of the client, the amount of the insurance premium for the first year is included in the total amount of the loan. In other periods, the execution of the insurance policy in installments is not allowed. So, to issue a policy, you need to contact an insurance organization that is a partner of the bank. A list of such companies can be found on the official website of the institution. In addition, for the CASCO procedure, it is necessary to prepare various documents, such as a copy of the borrower's passport and car, as well as a car registration certificate.

In the selected organization, after providing all the required documents, a car insurance contract will be concluded between the company and the car owner in accordance with the agreed conditions.

Early repayment of a car loan at Cetelem Bank is possible. More on that later.

How is the debt paid off?

You can pay the debt without commission as follows:

• Through Sberbank operators.
• Using terminals and ATMs of the same institution.
• Using the Sberbank Online service.

Payment with an additional commission can be made through:

• Other financial institutions or ATMs.
• Via Russian Post.
• Through terminals or Qiwi wallet.
• Through the terminals of the Eleksnet and Rapida systems.
• By deducting the amount of the monthly payment from wages, which is quite convenient for cardholders who are serviced by Sberbank. To do this, at work, you should write a statement according to which on the specified date the necessary funds will be debited from the account of the payment instrument automatically. In the event that at the required moment there are not enough funds on the card, then a message will come from Cetelem Bank asking for an urgent replenishment of the balance.

Early repayment of a car loan at Cetelem Bank: reviews

According to reviews, full or partial repayment of early payment in "Cetelem Bank" is allowed only subject to coordination of their actions with the organization. To do this, one month before the expected date, send an application for the early repayment procedure to the bank. Submission of such an application is possible through a personal account on the website, or as part of a connection with a telephone customer service, or it can be done in person at one of the bank branches. Then it remains to deposit to the account numberloan agreement the amount that is necessary to repay the debt ahead of schedule.

It is important to note that the indicated amount includes the balance of the principal debt according to the interest accrued over the past period. When the specified date comes, funds are debited from the client's account automatically. The borrower is informed about this additionally. This is confirmed by reviews of the early repayment of a car loan at Cetelem Bank.

In case of partial payment, an additional agreement is drawn up to the main loan agreement, which reflects the change in the amount of the monthly payment due to overpayment of interest.

Delay in payment

In the event that a delay in the next payment is allowed, the borrower is charged a pen alty, the amount of which is determined by the loan agreement. The process of accruing pen alties occurs until the necessary debt is paid off.

If within thirty days the borrower who made the delay does not deposit the funds necessary to pay the debt to a personal account, then Cetelem Bank has the right to:

• Require the borrower to pay the entire remaining debt. The financial institution must report this in writing.
• Transfer debt to third parties, as well as various collection structures.
• Apply to the court, demanding the seizure of the pledged car in order to further sell it to pay off the debt.

It is important to note that obtaining a car loan at Cetelem Bank is impossible without a CASCO policy. In addition, it is not possible to issuedocuments for a loan without making an initial fee. So, the first installment, as a rule, is twenty percent. Thus, obtaining a car loan at Cetelem Bank is possible at low interest rates, but with the condition of paying the down payment, as well as issuing a CASCO policy.

This bank offers customers a variety of different programs, which are helped by experienced employees. A distinctive feature of the presented credit organization is the possibility of obtaining a car loan for a new car with the provision of a minimum number of documents. Now let's find out what customers who have worked with him think about Cetelem Bank.

Customer opinions

Reviews about a car loan at Cetelem Bank are presented in large numbers.

Unfortunately, they are mostly negative. So, people call this financial structure a terrible bank and do not advise to contact it at all. For example, it is said that when refinancing, Cetelem Bank calls customers one amount, and when borrowers come to close the debt, they are told figures for several tens of thousands of rubles more. Bank employees can explain such a rapid increase in debt, for example, by a premium for early repayment of a loan. Such violations, according to clients, this institution allows itself even though nothing is specified in the contract for such allowances.

Reviews about life insurance with a car loan at the Bank "Cetelem" are also negative.

In their comments, people write that thisa financial institution often issues fines to customers for allegedly late delivery of CASCO insurance documents. And this is happening against the background of the fact that in fact all the necessary papers have been sent long ago. At the same time, when trying to contact the institution, the client is promised to be connected to an office worker, but as a result, the call is simply dropped and the amount debited for a fictitious fine is not returned. Therefore, it is not at all surprising that there are so many dissatisfied reviews about this banking structure on the network, in which people who have taken a car loan advise others to bypass the bank. We will also give feedback from employees about a car loan at the Setelem Bank in Tyumen.

He cheats his clients with interest rates. For example, people took out a loan at six percent per annum, subject to all the required conditions. But right at the moment of signing the contract, the interest rate increased sharply by two and a half times. In such situations, when asked by borrowers about where the originally promised six percent is, bank employees give slurred and inadequate answers. Having a similar experience with Cetel Bank, many people believe that this financial institution simply does not value its reputation, much less its customers.

Among other things, there is often dissatisfaction in the comments that bank employees are rude to customers when communicating, and many examples related to car loans confirm once again that this organization is trying to extort money from people in every way.

Thus, based on the feedback of people who collaborated with him, you canto say that this financial structure is not famous for the respect of its customers, therefore, when signing a car loan agreement with Cetelem Bank, you should be well acquainted with all the conditions offered by this financial institution.