Before you buy a car on credit, select the Bank. Often, when dealers are representative offices of banks that issue car loans. Ask the credit Manager to calculate for you the approximate cost of the loan with all charges and interest. The calculation should contain the amount of monthly payments and what it contains – the percentage and amount for account maintenance. Find out how much it costs to open the account, and most importantly - how much in total you will pay. In the payment schedule must be provided monthly loan amount, the amount of monthly interest. The bottom should be the amount of credit granted and the amount subject to mandatory payment along with interest. Then you yourself can easily calculate how much annual interest you will overpay. Contact several banks for pre-calculation and select the best.
Some banks are tricky and give the so-called interest-free loan. But you have to insure the car at a certain insurance company. In this case, the amount of the credit percentage is reflected in the amount of insurance that can be 10% of the value of the car.
Respectable banks that work with certain dealers to attract customers to announce promotions and discounts on the car when you purchase them on credit. If you plan to repay the loan for a few months, this offer can be availed and interest, the overpayment will be 10-20 thousand. Remember that the fewer documents required by the Bank, the more credit. This is especially true of those banks which issue credit to buy a car with no down payment.
For the loan grant to the Bank a certificate of employment income 2-pit. Couples can produce a certificate of both spouses, if the amount of the salary of one of them is not enough. You will need a passport and its copy, copy of marriage certificate (if you are). Fill in the questionnaire of the borrower on which the Bank decides on the granting or denial of credit. If the loan is approved, you will sign the loan agreement. After that you have to charge the dealership the down payment on the car and wait for when the Bank will contribute the remaining amount.