Today, car loans are issued no less often than consumer loans and mortgages. PJSC AvtoVAZ, trying to attract more customers and pay attention to its product, launched a loyalty program for everyone who wants to purchase LADA cars on credit.
Why AvtoVAZ's LADA Finance offer is advantageous, and what car loan conditions the domestic automaker offers, we will explain in detail in our article. Perhaps purchasing a domestic car is not such a bad idea, and thanks to LADA Finance, it also becomes financially profitable.
The program and its goals
LADA Finance is a lending program that AvtoVAZ jointly with partner banks aims to increase consumer demand for domestically produced cars. It's no secret that a used foreign car sometimes turns out to be much safer and more reliable.
However, the new LADA models are distinguished by convenience and quality, which was previously far from perfect. Of course, the price of products has also increased, which has scared off many car enthusiasts. To attract customers, AvtoVAZ has developed a car loan offer that can satisfy everyone with its accessibility and ease of registration.
Partner banks offer favorable terms for issuing loans for the purchase of LADA cars. However, the lending conditions, interest rate and list of documents required for registration are different in each of them. Let's look at the most popular offer from AvtoVAZ's largest partner.
"VTB 24"
The VTB Group of Companies unites many diversified companies under its wing. VTB 24 Bank is far from new to the financial services market and is the main competitor of Sberbank. Why AvtoVAZ chose to cooperate with this “giant” can only be guessed at, but the conditions that VTB 24 provides to everyone who wants to use the LADA Finance program can be considered the most transparent.
Conditions for LADA Finance car loans at VTB 24
The interest rate under the LADA Finance program depends on the size of the down payment that the client wishes to make when applying for a car loan at VTB 24. So:
- With a down payment of 10% to 29%, the following loan rates are available:
- 8.9% – taking into account state support and CASCO insurance issued by a partner insurance company;
- 10% – on new cars that fall under government subsidies;
- 15.6% – without subsidy, when applying for CASCO insurance in a partner insurance company;
- 16.7% – according to standard offers, without subsidies and CASCO insurance;
- With a contribution from 30% to 39%:
- 6.9% – state support + insurance from a partner;
- 10% – new cars + subsidy;
- 13.6% – when applying for CASCO insurance from a partner;
- 16.7% – standard;
- With a contribution of 40% or more:
- 7.9% – state support + insurance;
- 10% – new cars + subsidy;
- 14.6% – for partner CASCO;
- 16.7% – standard.
The loan amount also varies:
- With a contribution of 30%, clients will have access to a loan from 300,000 rubles to 1,000,000 rubles;
- In other cases, clients have access to a loan from 100,000 rubles to 1,000,000.
Documents for applying for a car loan under the LADA Finance program at VTB 24:
- Passport;
- The second identity document, which can be:
- International passport;
- SNILS;
- Driver's license;
- To participate in the Autofinance program, you will also have to provide a copy of your work record book and a certificate of income.
When applying for a car loan under the LADA Finance program in other banks, the package of documents can be supplemented with a 2-NDFL certificate and a certificate of income in the bank’s form. The more documents you submit, the more favorable the conditions will be.
The loan term offered by LADA Finance at VTB 24 is up to 3 years.
Since VTB 24 is a bank that receives government subsidies, its offer is the most favorable. There are, of course, other partner banks where the LADA Finance loan offer is valid.
"Rusfinance Bank"
When purchasing a LADA, whose cost varies between 800,000 rubles, interest rate will vary from 15% to 19.5%. Registration is carried out according to two documents, for persons over 23 years old, with an experience of 4 months. Thanks to the preferential terms of car loans, it is possible to reduce the rate to 9.5% per annum when applying for CASCO insurance with a partner insurance company.
A car loan from Rusfinance Bank can also include additional equipment, seasonal tires, audio equipment and other components. The loan amount starts from 50,000 rubles, and the upper limit on the cost of the car will be 1,450,000 rubles.
"Setelem"
Cetelem Bank invites everyone to participate in the LADA Finance program, under the following conditions:
- You can apply for a loan directly at the AvtoVAZ car dealership;
- A down payment of 0% makes the offer the most attractive;
- The rate starts from 7% per annum;
- Possibility of obtaining a loan with a minimum set of documents, for example: passport and identification card;
- Loan term – up to 3 years;
- Loan amount – up to 900,000 rubles;
- Possibility of early repayment without penalties and interest;
- Possibility to include the cost of additional services in the lending package.
Of course, these are the most favorable conditions that only a trustworthy client can count on. However, the possibility of registration using 2 documents and registration on the spot make this offer the most attractive for those for whom buying a car is a pressing priority.
"Sovcombank"
Sovcombank offers the following conditions for everyone wishing to purchase LADA cars under the LADA Finance program:
- The loan amount under the program varies from 90,000 to 1,450,000 rubles;
- Possibility to purchase a car without a down payment;
- Possibility of obtaining a loan using one document;
- Loan term up to 3 years;
- Possibility of early repayment without overpayment;
- The interest rate on the loan is 6.75% with a down payment of 40%, and 7.75% when applying for a loan with a down payment of 0 to 39% of the cost of the car.
At Sovcombank, the lender will need to confirm his employment, and work experience of at least 4 months at his last place of work. Although there are advantages to applying for a car loan under the AvtoVAZ LADA Finance program, the age of candidates for lending starts from 20 years old and should not exceed 85 years.
Conclusion
As you can see, the LADA Finance program covers a wide range of consumers, thanks to the variety of offers from different partners. If you do not have the opportunity to get a loan with a down payment, banks will accommodate you. For everyone who wants to purchase a car from the AvtoVAZ concern, LADA Finance is a real opportunity to make a purchase today.
It is worth noting that such offers from automakers are far from rare. Similar programs were launched by Hyundai and Nissan, and received only positive reviews. Participation in LADA Finance will provide you with a minimum overpayment, affordable conditions and preferential offers, thanks to subsidies from the state budget.
In order to decide on a lending bank, you should familiarize yourself with all the offers and study the market more carefully. If you don’t have the time and desire to worry about interest rates and overpayments, it’s better to help you choose the most suitable and affordable offer that you can afford.
In the article we talked about theoretical issues related to the special lending program "Lada Finance", now it's time to talk about purely practical issues.
Since each of the 7 banks offers special lending conditions, we will devote more extensive material to comparing them in the future. Today we’ll talk about the basic requirements and conditions, as well as the stages of applying for a Lada Finance car loan.
Which banks can I apply for a loan from?
As we mentioned above, 7 Russian banks currently operate under the Lada Finance program. Lending conditions are not universal - each bank offers special discounts and benefits, which must be considered before deciding which bank to take out a loan from. In addition, the requirements for the borrower in each credit institution differ from others. We offer a list of banks and the main parameters of loan programs to help you with your choice.
- Bank "Uralsib"- one of the largest banks in Russia - has been working under the Lada Finance program from the very beginning. All Lada models participate in the program; the final loan terms depend on the chosen model and the size of the down payment (minimum - 15%). CASCO insurance is mandatory, there are no issuance fees. Interest rate - from 7.5 to 17.25%, loan term from 12 to 60 months. Requirements for the borrower: permanent registration in the region of presence, work experience at the last place of work of at least 6 months, age 25-60 years, availability of a landline telephone. The loan is issued using 2 documents: a passport and any other document of your choice.
- VTB 24 offers loans for all Lada models at interest rates from 8 to 23% (the last rate is for an express loan without CASCO). Loan term 12-60 months, down payment from 15%, no commissions. Requirements for the borrower: age 21-60 years, work experience 1 year, last position - 3 months; registration in the region of consideration, income per family member of at least 8 thousand rubles, absence of children under 6 months (for women). To apply for a loan, you will need a passport and a second document, according to the standard program - a certificate of income and a copy of your work book.
- Rusfinancebank offers loans for a period of 12-60 months with life insurance and CASCO (rates from 8%) and without compulsory insurance (from 10%). Maximum rate 19%, down payment from 15%. To apply for a loan, you will need a passport and a second document of your choice. Requirements for the borrower: age 23-65 years, two contact telephone numbers, 4 months of work experience at the last place of work, permanent registration in the region of presence.
- Credit Europe Bank issues loans for a period of 12-60 months with mandatory CASCO insurance. The minimum down payment is 10%, but the interest rate is quite high - taking into account the discount, it is 13-23%. The list of documents is also quite extensive: passport, driver’s license (if not available, a license from a close relative and an additional document of your choice), a copy of the work book, a certificate of income. Requirements for the borrower: permanent registration in the region of presence, age 21-65 years, total work experience 1 year, last position - 4 months.
- Rosbank offers loans at rates from 9.5 to 17.5% with mandatory CASCO registration. Minimum contribution - from 10%; In addition, a special program is offered without a down payment at 17.5% per annum (the discount does not apply in this case). Loan term from 6 to 60 months. To apply for a loan, you will need a passport, a second document of your choice, a certificate of income, and for loans from 600 thousand rubles - a copy of your work record book. Requirements for the borrower: permanent registration in the region of presence and permanent/temporary - in the region of registration, age 22-65 years, work experience in the last place - 3 months.
- iMoneyBank offers, perhaps, the most favorable lending conditions: terms from 12 to 84 months, rate of 7-14% without mandatory CASCO registration. The minimum down payment is 15%. To apply for a loan, the borrower will only need a passport. Requirements for the borrower: age 21-752 years, experience - from 1 month, registration in the region of presence. Loans are also issued to non-working pensioners.
- Bank Cetelem offers loans for a period of 12-60 months with mandatory CASCO registration. The minimum down payment is 15%, the loan rate is 8.5-17.5%, taking into account the discount. To complete the application, you will need a passport, a second document of your choice, a copy of your work record book and a certificate of income. Requirements for the borrower: 22-65 years old, 3 months of work experience in the last place, registration in the region of presence.
As we can see, the conditions of each bank can be called quite attractive: upon presentation of a minimum set of documents, you can quickly obtain a loan at low interest rates. The final choice, of course, depends on the individual needs of the borrower, region of residence and loan application, etc. Below we offer brief instructions on how to apply for a car loan under the Lada Finance program.
All the way step by step: we get a loan under the Lada Finance program
To buy a brand new Lada car on credit without paying too much, you only need to go through a few steps.
- Determine which banks from the list operate in your city (or region), as well as the address of the nearest official AvtoVAZ showroom.
- Determine which bank’s loan program meets all your requirements (age restrictions, loan term, interest rate, other conditions).
- Contact an official AvtoVAZ dealer and select a car.
- Inform the car dealership employee about your desire to apply for a loan under the Lada Finance program.
- Obtain a preliminary positive decision from the creditor bank.
- Contact the dealership to receive a final invoice for your purchase (including factory discounts).
- Draw up a loan agreement based on the invoice.
- Draw up an insurance contract and pay for the policy.
- Make a down payment and get your car!
And, of course, do not forget that in a month you will need to make the first payment on the loan. Let us remind you: for the entire term of the loan agreement, your car is pledged to the bank, and if you fail to repay the debt on time, the bank has the right to seize it and sell it.
As you can conclude, the terms of the Lada Finance loan program are very attractive and simple. Since the requirements for borrowers are also very flexible, almost any of our readers can become the owner of a new car, while the overpayment on the loan will be minimal. In one of the following articles we will conduct a comparative analysis of all 7 loan programs using practical examples and find out which loans can be considered the most attractive.
Requirements and documents for a loan
√ Citizenship of the Russian Federation;
√ Age from 20 years, on the date of loan repayment, age should not exceed 85 years;
√ Official employment (permanent income) at the main place of work for at least the last 4 months;
√ Actual residence in the region where the Bank’s division is present;
√ Permanent registration (at least the last 4 months in the territory of one locality of the Russian Federation);
√ It is prohibited to issue several loans for the purchase of a vehicle within one day.
Documents for granting a loan
√ Passport;
√ Documents confirming deferment from military service / military ID (only for males of military age);
√ For categories of clients: seafarers working on transport or special vessels under contract with shipping companies or crewing agencies, additionally submit one of the following documents:
Certificate in form 2-NDFL / bank account statement confirming receipt of allowance or salary;
- a copy of the service contract / current contract or work book, in the absence of a work book, contracts for the last 6 months.
For modification with a full set of documents, the following is additionally provided:
√ Documents confirming income;
Proof of income from your main place of work is required:
- 2NDFL certificate or certificate in the Bank form / tax return for the past year containing information on income (less expenses) (provided by individuals employed as individual entrepreneurs);
. 2NDFL certificate confirming part-time income, when it is taken into account in calculating the lending limit;
. tax return in form 3NDFL indicating income (less expenses) from leasing real estate / vehicle / business activity, when taken into account in calculating the lending limit.
√ Documents confirming employment;
Proof of employment at your main place of work is required:
. a copy of the work record book (certified by a notary or a responsible employee of the HR department of the last place of work);
. GPC agreement (except for agency agreements, if there is no entry in the work book);
. certificate of registration of individual entrepreneurs (provided by individuals employed as individual entrepreneurs);
. a bank account statement confirming receipt of alimony payments and/or a pension certificate and a bank account statement confirming receipt of a pension (provided regardless of the selected modification, when this income is taken into account in calculating the credit limit);
Additional documents:
√ second document of your choice (driver’s license, international passport, Taxpayer Identification Number, military ID, pension certificate).
Insurance
- A CASCO insurance contract can be concluded with any insurance company established in accordance with the legislation of the Russian Federation and carrying out the corresponding type of insurance activity
- Email address for providing a vehicle insurance contract against the risks of “damage” and “theft” (CASCO insurance contract) and a receipt for payment of the CASCO policy:
Dear Clients! When sending a CASCO insurance contract and a receipt for payment for the CASCO policy to the Bank's email address, we kindly ask you to indicate your details in the subject line of the letter, for example:
“Extension of CASCO, Ivan Ivanovich Ivanov, passport: series 0000 number 0000000.”
Reminders
Insurance program AutoZashchita Mini PJSC SK Rosgosstrakh179 KB Rules for insuring financial risks of vehicle owners SPAO RESO-Garantiya385 KB Rules for insurance of financial risks of individuals. persons LLC SK "Soglasie"438 KB Borrower's instructions for insurance of Capital Life Life Insurance LLC207 KB Borrower's instructions for insurance _IJSC "VSK"122 KB Borrower's memo on insurance _Insurance program "Instead of CASCO2"199 KB Borrower's memo on insurance _Insurance program "Instead of CASCO"199 KB Borrower's instructions for insurance LLC IC "Soglasie-Vita"109 KB Borrower's memo on insurance of AlfaStrakhovanie JSC113 KB Rules of voluntary insurance of SK Cardiff LLC616 KB Voluntary insurance programs of SK Cardiff LLC228 KB Voluntary insurance programs of Capital Life Insurance LLC.413 KB
LADA Finance is a car loan program provided by PJSC AvtoVAZ with the participation of partner banks. This credit program is valid for everyone in the Russian Federation that cooperates with partner banks.
- Low interest rates on loans
- Optimal down payment
- Convenient car loan terms
- Quick response on the decision to issue a loan
Notify the car dealership manager of your intention to buy a car under the LADA Finance program.
Contact a specialist at your partner bank to get a preliminary decision on the possibility of purchasing Lada car on credit.
If the bank's response is positive, the car dealership manager will open a purchase account for you (for certain configurations, a subsidy is provided by AvtoVAZ OJSC).
Give the received invoice to a specialist in the credit department of your partner bank.
Execute an agreement to purchase a car on credit under the LADA Finance program.
The final stage is payment of the down payment. Now you can PICK UP YOUR NEW CAR!
Program conditions
Read more... | Program | First payment, % | Bank rate, % | Loan term, months | Insurance conditions | Commission |
| LADA Special | 20 - 39 | 8.9 | 12-36 | CASCO, SG | absent |
| from 40 | 7.9 | 12-36 | |||
| LADA Special (FAVORABLE lending) | 20 - 39 | 8.9 | 12-36 | CASCO, SG | absent |
| from 40 | 7.9 | 12-36 | |||
| LADA Special 6.9 (Government program) | 30 - 39 | 6.9 | 12-36 | CASCO, SG | absent |
| LADA Special 6.9 (FAVORABLE lending) | 30 - 39 | 6.9 | 12-36 | CASCO, SG | absent |
| AutoStandard (Basic conditions) | from 20 | 16.9 | 12-60 | CASCO | absent |
| AutoStandard (Government program) | from 0 | 10 | 12-36 | CASCO | absent |
| AutoStandard (FAVORABLE lending) | from 0 | 10 | 12-36 | CASCO | absent |
| from 20 | 16.9 | 42-60 | |||
| AutoExpress (Basic conditions) | from 20 | 16.9 | 12-60 | CASCO | absent |
| AutoExpress (Government program) | from 20 | 10 | 12-36 | CASCO | absent |
| AutoExpress (FAVORABLE lending) | from 20 | 10 / 16.9 | 12-36 / 42-60 | CASCO | absent |
| AutoExpress without CASCO (Basic conditions) | from 30 | 16.9 | 42-60 | absent | |
| AutoExpress without CASCO (Government program) | from 30 | 10 | 12-36 | absent | |
| AutoExpress without CASCO (FAVORABLE lending) | from 30 | 10 / 16.9 | 12-36 / 37-60 | absent | |
| Autoexpress (all models) (Basic conditions) | from 30 | 16.2 | 37-60 | SJ | absent |
| Autoexpress (all models) (Government program) | from 30 | 9.5 | 12-36 | SJ | absent |
| Autoexpress (all models) (FAVORABLE lending) | from 30 | 9.5 | 12-36 | SJ | absent |
To apply for a loan from VTB Bank under the LADA Finance program you must:
- Be a citizen of the Russian Federation;
- Be over 21 years of age and under 60 years of age;
- Be officially employed in the Russian Federation for at least 3 months;
- Have a total work experience of at least 1 year;
- Have an average monthly income of at least 10 thousand rubles;
- Have an average monthly income per family member of at least 8 thousand rubles;
- Do not have a negative credit history;
- Do not have children under 6 months (for women).
- To choose from: international passport, driver’s license, insurance pension certificate, TIN certificate;
- Under the AutoStandard program, you additionally need to provide a copy of your work record book and a certificate of income.
| Program | First payment, % | Bank rate, % | Loan term, months | Insurance conditions | Commission |
| (SG 3.9) (Basic conditions) | from 20 | 16 | 42-60 | CASCO, SG 3.9 | absent |
| (SG 3.9) (Government program) | 0 - 29 | 7.5 | 36 | CASCO, SG 3.9 | absent |
| from 30 | 6.9 | 36 | |||
| (SG 3.9) (FAVORABLE lending) | 0 - 29 | 7.5 | 36 | CASCO, SG 3.9 | absent |
| from 20 | 16 | 42-60 | |||
| from 30 | 6.9 | 36 | |||
| (SG 3.9) (Basic conditions) | from 20 | 16 | 42-60 | CASCO, SG 3.9 | absent |
| (SG 3.9) (Government program) | 0 - 29 | 7.5 | 36 | CASCO, SG 3.9 | absent |
| from 30 | 6.9 | 36 | |||
| (SG 3.9) (FAVORABLE lending) | 0 - 29 | 7.5 | 36 | CASCO, SG 3.9 | absent |
| from 20 | 16 | 42-60 | |||
| from 30 | 6.9 | 36 | |||
| (SG 3.9) without CASCO (Government program) | from 30 | 9.7 | 36 | SZh 3.9 | absent |
| (SG 3.9) without CASCO (FAVORABLE lending) | from 30 | 9.7 | 36 | SZh 3.9 | absent |
| (SG 3.9) without CASCO (Government program) | from 30 | 9.7 | 36 | SZh 3.9 | absent |
| (SG 3.9) without CASCO (FAVORABLE lending) | from 30 | 9.7 | 36 | SZh 3.9 | absent |
| SG 3.9 (confirmation of income) (Government program) | from 0 | 6 | 36 | CASCO, SG 3.9 | absent |
| SG 3.9 (confirmation of income) (FAVORABLE lending) | from 0 | 6 | 36 | CASCO, SG 3.9 | absent |
| ST (Basic conditions) | 20 - 29 | 17 | 42-60 | CASCO, SG | absent |
| 30 - 49 | 16 | 42-60 | |||
| from 50 | 15 | 42-60 | |||
| ST (Government program) | 0 - 29 | 10.3 | 24-36 | CASCO, SG | absent |
| 30 - 49 | 8.8 | 24-36 | |||
| from 50 | 7.8 | 24-36 | |||
| ST (Basic conditions) | 20 - 29 | 17 | 42-60 | CASCO, SJ | absent |
| 30 - 49 | 16 | 42-60 | |||
| from 50 | 15 | 42-60 | |||
| ST (Government program) | 0 - 29 | 10.3 | 24-36 | CASCO, SJ | absent |
| 30 - 49 | 8.8 | 24-36 | |||
| from 50 | 7.8 | 24-36 | |||
| ST (FAVORABLE lending) | 0 - 29 | 10.3 | 24-36 | CASCO, SJ | absent |
| 20 - 29 | 17 | 42-60 | |||
| 30 - 49 | 8.8 / 16 | 24-36 / 42-60 | |||
| from 50 | 7.8 / 15 | 24-36 / 42-60 | |||
| Standard (Basic conditions) | from 20 | 18 | 42-60 | CASCO | absent |
| Standard (Government program) | 0 - 29 | 10.2 | 24-36 | CASCO | absent |
| 30 - 49 | 10.2 | 24-36 | |||
| from 50 | 10.2 | 36 | |||
| Standard (FAVORABLE lending) | 0 - 29 | 10.2 | 24-36 | CASCO | absent |
| from 20 | 18 | 42-60 | |||
| 30 - 49 | 10.2 | 24-36 | |||
| from 50 | 10.2 | 36 | |||
| Standard (Basic conditions) | from 20 | 18 | 42-60 | CASCO | absent |
| Standard (Government program) | 0 - 29 | 10.2 | 24-36 | CASCO | absent |
| 30 - 49 | 10.2 | 24-36 | |||
| from 50 | 10.2 | 36 | |||
| Standard (FAVORABLE lending) | 0 - 29 | 10.2 | 24-36 | CASCO | absent |
| from 20 | 18 | 42-60 | |||
| 30 - 49 | 10.2 | 24-36 | |||
| from 50 | 10.2 | 36 | |||
| Standard without CASCO (Government program) | from 30 | 10.2 | 24-36 | absent | |
| Standard without CASCO (FAVORABLE lending) | from 30 | 10.2 | 24-36 | absent | |
| Standard without CASCO (Government program) | from 30 | 10.2 | 24-36 | absent | |
| Standard without CASCO (FAVORABLE lending) | from 30 | 10.2 | 24-36 | absent |
To apply for a loan from Rusfinance Bank under the LADA Finance program, you must:
- Be a citizen of the Russian Federation;
- Be registered in the region where the application is submitted;
- Be over 23 years of age and under 65 years of age (at the time of loan repayment);
- Be officially employed in the Russian Federation for at least 4 months;
- Have at least two contact numbers.
What documents do you need to have to apply for a loan:
- Russian passport (required);
- To choose from: international passport, military ID, driver’s license, insurance pension certificate, TIN certificate.
| Program | First payment, % | Bank rate, % | Loan term, months | Insurance conditions | Commission |
| Classic (Basic conditions) | 20 - 39 | 18 | 42-60 | CASCO | absent |
| from 40 | 17.67 | 42-60 | |||
| Classic (Government program) | 20 - 39 | 11.08 | 24-36 | CASCO | absent |
| from 40 | 11 | 24-36 | |||
| Classic (FAVORABLE lending) | 20 - 39 | 11.08 / 18 | 24-36 / 42-60 | CASCO | absent |
| from 40 | 11 / 17.67 | 24-36 / 42-60 | |||
| Classic without CASCO (Government program) | from 30 | 11.08 | 24-36 | absent | |
| Classic without CASCO (FAVORABLE lending) | from 30 | 11.08 | 24-36 | absent |