Today, buying this or that car is as easy as shelling pears, if you had money. And if the required amount is not available, you will have to borrow from some banking institution. Today, entrepreneurs face a wide variety of business barriers, so their income can drop significantly at almost any moment. Accordingly, getting a car loan for an individual entrepreneur is not as easy as it seems.
It is much more difficult for an entrepreneur to receive money than for an ordinary individual who fulfills his duties under a standard employment contract. Banks are reluctant to make a deal with individual entrepreneurs, so the number of programs is very limited. At the moment, several large banks are ready to provide a loan for the purchase of a vehicle, including Sberbank, Metcombank, VTB 24, as well as Credit Europe Bank, etc.
A significant number of credit companies simply refuse to approve the submitted appeal to individual entrepreneurs, and therefore, when choosing a bank, it is important to pay close attention to the list of required documents. Novice individual entrepreneurs usually look for the opportunity to buy a car without a down payment, but in this case, the interest on the loan will be slightly higher than in a standard situation.
Please note that some banking institutions classify individual entrepreneurs as individuals, so they offer to issue a loan on general terms. Other financial organizations equate entrepreneurs with legal entities, respectively, the list of requirements and the package of documents changes significantly.
Which banks give a car loan for individual entrepreneurs
In any case, we can confidently say that banks give a car loan for individual entrepreneurs, and indeed it is possible to issue it. Below we will consider which banks many experts recommend to contact. The leading lending institutions in the auto lending sector are financial giants such as Sberbank and VTB 24.
Take a car loan from Sberbank
The first offers a program called Business Auto. You can get an unlimited amount on it, the amount of which depends solely on the client's solvency. The interest rate is at 10 points. The initial payment for a car loan is at least 20 percent of the cost of transport. The term of use of the credit amount is from one month to 8 years.
Do they give a loan for a car at VTB 24
Now let's talk about the conditions offered by VTB 24. The program aimed at issuing a car loan for buying a car is referred to as a business express. The amount that an individual entrepreneur can count on is up to 4 million rubles. The annual interest rate is indicated at the level of 14.5. You will have to pay 15 percent of the original cost to the bank's cash desk. Term from one to sixty months. Note that you will need to issue a CASCO, and these are significant additional costs.
Conclusion
The list of documents required when applying for a car loan for an individual entrepreneur can be found on the portals of financial companies. They can change over time, so it's best to trust verified official sites.
