Since July 2017, a number of state programs have been launched to subsidize certain categories of citizens when buying a car. By the way, these are not the first state programs to support the automotive market; similar projects have been successfully operating since 2014 and are in demand. This article will discuss the conditions for obtaining a loan under the Family Car state program, and will also compile a list of cars and banks participating in it.
Among the government programs that have been replaced by new ones are recycling, repurchase of an old car and exchange for a new one. It is clear that it has already served its purpose; those who wish could use it. The government decided not to cover the entire market segment, but to decide on targeted assistance. In particular, government subsidies when applying for a vehicle loan were accepted for farmers (“Russian Farmer”), entrepreneurs (as part of the state program “Own Business”), citizens purchasing a car for the first time (“First Car”) and families with children (state program "Family car")
It is almost always difficult for a large family to immediately purchase a car or apply for a loan on general terms. In order to support the category of citizens, the state has issued a decree according to which a family will be able to purchase a car without a down payment at a reduced rate. How does it all work and what are the differences from a regular car purchase on credit? Let's look at it below.
Features of the state program Family car in 2017
A distinctive feature of the Family Car state program from others is the opportunity to obtain a loan on favorable terms. Judge for yourself, a 10% subsidy for the cost of a car from the state and a reduction in the loan interest rate by 6.7% arouses interest among consumers. Thus, a car loan issued under the state program becomes more accessible than others. If spouses have been thinking about purchasing a family car for a long time, they should take a closer look at its conditions.
Conditions for purchasing a car under the state program
Let us recall the features for participation in all adopted state programs:
- The car must be released in Russia.
- It is possible to purchase a car no older than 2016-2017.
- The cost of the car is not higher than 1,450,000 rubles.
- The car is purchased as standard.
- The loan term is no more than three years (36 months).
Distinctive conditions for participation in the Family Car state program are:
- A married couple raising two or more children (minors) can purchase a car.
- The applicant does not have a loan to purchase a car.
- The applicant has a driver's license.
- After receiving a car loan, the participant loses the right to participate in the state program again. One car is issued to one person.
- The maximum interest rate on the loan is 11.3 percent.
Agree, the conditions are more than feasible. Which banks should you go to for a car loan?
Which banks issue car loans?
Dealers may offer additional bonuses when purchasing a car. Thus, the Ford automobile concern has provided for its potential buyers, in addition to a guaranteed discount from the state of 10%, a reduction in the loan subsidized by the state by 6.7%, an additional discount of up to 200,000 rubles.
The exact list of participant banks for the Family Car state program is currently being formed. It is known that a number of banks have begun to issue loans. Among those well-known to a wide range of people, Sberbank, VTB, Bank of Moscow, and Cetelem Bank are involved in the state program. It became possible to obtain a car loan from these institutions on July 19 of this year.
List of cars
At the stage of discussion of the bill, in particular, the maximum cost of cars, figures of 800-900 thousand rubles were announced. In the final version, the Government has decided to subsidize cars costing up to 1,450,000 rubles.
Subject to the state program Family car in this price category:
- LADA cars, as configured, are no more expensive than the established limit.
- UAZ in configuration, not more expensive than the established limit.
- KIA in configuration, not more expensive than the established limit.
- RENAWLT in configuration, not more expensive than the established limit.
- Ford in the price segment eligible for the program.
- Nissan, as standard.
- Mazda, as standard.
Among the cars presented in the list among consumers during the implementation of the state program Family Car, LADA, KIA, and FORD cars are popular. You can see the maximum discounts when purchasing cars from these concerns on their official website.
How to apply for a car loan under the Family Car state program
Before purchasing a car under the state program, you should visit a car dealership and find out whether it cooperates with credit institutions participating in the project. You can find out this on the official website of the car dealer.
Either spouse can apply and obtain a loan. One of the bank’s conditions is the availability of rights and the absence of previously issued car loans in 2017. You can apply for a loan directly in the salon, where bank employees are often present, or in a branch of a credit institution.
Before submitting documents, it is advisable to compare the conditions offered by different banks, estimate the percentage of overpayment under the agreement, and the interest rate. Find out if you can change your insurance company over time.
Often, automakers have additional discounts and promotions that, when combined with government subsidies, will help you buy a car at the most favorable price.
To apply for a loan to purchase a car under the Family Car state program you will need:
- passport
- driver's license
- 2-NDFL certificates about spouses’ salaries
- children's birth certificates
The list presented is not final. The exact list of documents is specified in a specific bank. After submitting all documents, the bank will check the accuracy of the information provided and make a decision.
Advantages of participation in the state program
An additional bonus when participating in the Family Car state program, which distinguishes it from previously existing ones, is the absence of the need to make a down payment. The state undertakes to pay it, contributing 10% of the cost of the car on the loan.
The government subsidy when purchasing a car does not apply to additional fees that the bank imposes on the buyer. Those. The insurance will have to be paid by the car owner himself.
In addition to contacting a credit institution, it is possible to apply for a loan directly at a car dealership. In this case, the buyer will be able to save time.
Contrary to publications on other information sites about the possibility of using maternity capital funds in 2017 to purchase a car under the Family Car state program, we inform you that this bill was not adopted. It is impossible to use maternity capital for these purposes.
As always, the adoption of a law “kills two birds with one stone.” On the one hand, the state develops the automotive industry and increases sales, on the other hand, it helps the population purchase cars at a discount. The program is projected to sell more than 90,000 vehicles. The state program Family Car is scheduled for 2017. Whether it will be extended is still unknown.
Video: Family car state program launched
Purchasing cars at the MAS Motors showroom is very profitable, because we work not only with new cars, but also with used cars, we provide all the necessary documents for the Trade-In program, purchasing cars in installments and on credit. Government subsidy programs (government compensation for part of the interest on loans) deserve special attention. The latter include new projects of the Ministry of Industry and Trade:
- "First Car"
- "Family Car"
About the latest program below.
Since July 2017, the state has allocated 7.5 billion rubles. for the implementation of all state programs for subsidizing the purchase of cars manufactured in Russia.
Terms and conditions of the Family Car program
All government subsidy programs are based on Government Resolution No. 364 of April 16, 2015. It changes and is supplemented every year. This happened in 2017. The next amendments were made by Resolution No. 808 on July 7, 2017. According to the latter, additional benefits appear for certain categories of the population, namely for families with at least two children and for those who are buying a car for the first time in their lives.
Loans are provided by banks on standard terms, but part of the interest on the loan is paid by the state itself, provided that the bank meets the mandatory requirements of the program (does not have shares of foreign companies in its authorized capital, is connected to the unified credit history system, has no debts, other subsidies, etc. .P.).
The subsidy amount under the Family Car program is 10% of the cost of the car.
Requirements for the car
- In 2017, the subsidy program received an updated limit on the cost of the car. It cannot exceed 1 million rubles.
- The car must be produced in Russia (not only AvtoVAZ products fall under these requirements, but also those of foreign manufacturers whose factories operate in the Russian Federation, providing almost the full cycle of car production).
- The year of manufacture of the product cannot be lower than 2016 (as required by the current amendments to the 2017 regulation).
- The car can only be new (that is, it was not owned by private individuals and was not registered before the current transaction).
- The total weight of the technical equipment should not exceed 3.5 tons.
Recipient requirements
- There are no fixed requirements for the age or income of citizens (that is, any citizen who has reached the age of majority can apply for a subsidy, but the bank can impose its own requirements on borrowers).
- The main requirement of the Family Car program is the presence of two or more minor children.
- The buyer is a citizen of the Russian Federation.
- The borrower must have a driver's license.
- After receiving the subsidy, the buyer undertakes not to purchase other cars on credit for a year.
Other parameters and restrictions of car loans under the Family Car program
- When purchasing a car on credit with a subsidy, the borrower must make at least 20% of the cost of the car as a down payment.
- The maximum loan repayment period cannot exceed 36 months.
- The maximum loan rate, which is taken into account in calculating the one-time compensation, cannot exceed 18% (that is, the bank can set a percentage higher, but the subsidy will be calculated only from 18%).
- The loan discount compensated by the subsidy cannot be more than 6.7% (previously the limit was calculated as 2/3 of the key rate of the Central Bank of the Russian Federation).
Benefits received under the program
- If the recipient and the bank meet the conditions of the program, then the state will compensate 10% of the total cost of the car (up to 145 thousand, according to the conditions stated above).
How to get
In order to take advantage of this “Family Car” program, you need to visit the MAS Motors office and contact a loan specialist. We will select the most advantageous offer among several dozen partner credit institutions. You can start from the office of your favorite bank, we, in turn, will provide all the necessary documents.
