This program is a car loan at low interest rates. The point of this program to support the domestic car manufacturer is to arouse interest in purchasing Lada cars on credit from car enthusiasts. A direct participant in the process is a financial institution (bank), similar to other transactions for issuing loans.
In accordance with the information posted on the AvtoVAZ website, four financial organizations are participating in this program: Cetelem Bank, VTB, Sovcombank Rusfinance Bank. Obtaining a loan from the above-mentioned banks is subject to various conditions.
How to save on a car loan?
Each person has their own circumstances and needs: some have a bad credit history or unofficial income, some need a loan without a down payment, and sometimes a car is purchased by a person of retirement age - all this must be taken into account when selecting a lending program.
Our car dealership has been working with the largest banks in Russia for more than 16 years. What does this give?
On average, our clients receive an interest rate that is 3-5% lower than when contacting a bank directly, and the probability of car loan approval reaches 93-95%.
If you don’t have time to study all the programs and intricacies of banks, call our car dealership or send an application, and we will select a car loan taking into account your specific life situation.
Call: +7 (812) 220-72-58
How Lada Finance works
In order to become a participant in this program, you need to perform six simple steps:
- Select a car. Come to the official LADA car showroom "Atlant Motors" and take a look at the car.
- Notify the consulting manager. Tell the car dealership salesperson that you are purchasing a car through the Lada Finance program.
- Assess your own capabilities. To do this, visit your partner bank and ask for a loan under this program, then wait for a preliminary decision.
- Pick up the bill. If a positive decision is made, the dealership employee will issue you an invoice for the purchase, which includes the subsidy provided from AvtoVAZ. It is issued for a specific configuration.
- Give the account to a partner bank. The completed invoice must be given to the employee processing the loans.
- Draw up an agreement. Visit your partner bank to complete the documentation.
EcoGas program
AvtoVAZ invites customers to take advantage of an advantageous offer under the terms of the Ecogas program, which was created by the Russian Government. It was approved by Resolution No. 667 of July 12, 2016. According to the document, the AvtoVAZ plant, which produces cars running on natural gas, is provided with subsidies. The same benefits are provided to other similar enterprises in Russia.
The Lada Largus and Vesta models fall under the Ecogas program. The maximum benefit that can be received under the EcoGas program is 115 thousand rubles.
Lada Finance from VTB
It has the widest range of offers. If you have decided to cooperate with VTB, then you will immediately need to think about the amount of the down payment. In accordance with the terms and conditions of this financial institution, the down payment must be at least 20% of the total price of the car. In individual proposals it can also be no less than 40%. Now about the repayment time. The longest payment period is sixty months. In this case, the lowest interest rate is 9.5% per annum (“AutoYubiley”), the highest is 17.9% per annum (for “AutoExpress without CASCO” and “Autolight without CASCO”).
Please note that in all of the above offers from each bank, you can notice the following pattern: the larger the down payment and the shorter the loan repayment time, the lower the interest rate.
Lada Finance - requirements and documents
Sovcombank
- Citizenship of the Russian Federation
- Photocopy of work book, income certificate
- Passport of a citizen of the Russian Federation, its copy, application, one of the following documents: military ID, foreign passport, TIN, driver’s license, SNILS
- Official place of work for at least three months
- Age 20-65 years
- Permanent registration
VTB
- Be a citizen of the Russian FederationPassport of a citizen of the Russian Federation, its copy, application, one of the following documents: foreign passport, TIN, driver's license, SNILS
- Official place of work for more than 12 months, income over 10,000 rubles
- Age 21-60 years
- Permanent registration
Setelem Bank
- Citizenship of the Russian Federation
- Photocopy of work record book
- Passport of a citizen of the Russian Federation, its copy, application, one of the following documents: military ID, foreign passport, TIN, driver’s license, SNILS
- Official place of work for at least four months
- Age 23-65 years
- Permanent registration, 2 phone numbers
Pitfalls Lada Finance
It's no secret that any financial institution is created to make a profit, it is for this reason that you don't even need to think about charity, but you shouldn't tremble with fear. Just study the contract in detail, read everything written in it, without skipping the fine print: additional conditions, including comprehensive insurance conditions and additional equipment. Then you need to be shown a payment schedule. If you agree with everything, then apply for a loan. If you have enough finances to buy a car without a loan, then it is worth comparing the final price of the car after obtaining a loan and when purchasing it with cash. In a situation, if you don’t like something, do not enter into a contract, because the VAZ is not on the list of vehicles for which you need to stand in line and the equipment can only be purchased by special order, after waiting for a long time. VAZ configurations are fixed and almost always available. So what are the pitfalls? He is the only one here: employees will be given a bonus, and the financial institution will make a profit, even if you repay the loan in full in a week. And not only interest for this period of time, but, quite likely, also for transferring money to the account.
The main negative feature of a car loan is the mandatory CASCO insurance. However, if you were going to start processing it anyway, then take out a loan. A discount of 30,00 seems to reduce the interest rate. However, the agreement with the financial institution will indicate the usual rate of 18-20%. Because in reality, the discount reduces the overpayment on the loan. There is an obvious benefit for all participants: the car dealership sold the vehicle, the financial institution received its interest, the insurance company sold the motor vehicle insurance. It can be assumed that both the insurance company and the bank promise sales consultants at a car dealership some kind of reward for selling cars on credit. It is unlikely that you will be able to pay off the loan tomorrow. The overwhelming majority of financial institutions currently have a condition: submit an application one month before the early repayment of the loan. Otherwise, on the due date, only the contribution amount will be debited from your account. The imposition of additional services is currently prohibited, but financial institutions are strenuously offering to insure their life and dismissal from work. You may disagree, but the interest rate will immediately increase. You need to calculate what will bring the greatest benefit directly to you.
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 group unites under its wing many different companies. It 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.
- 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.
The loan amount also varies:
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;
- TIN;
- Driver's license;
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.
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, the 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.
"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.
Lada Finance in a car showroom
It’s easy to register for Lada Finance at a car dealership:
- Select a car at any official LADA dealership center.
- Tell the seller that you are going to purchase a car through the LADA Finance program.
- To find out about a preliminary decision on the chance of purchasing a Lada car on credit, contact an employee of a partner bank.
- If the answer is positive, the seller will open an account for the purchase (for some configurations there is a subsidy from AvtoVAZ).
- Give this invoice to the bank employee involved in processing loans.
- Conclude an agreement to purchase a car on credit under the LADA Finance program.
Program conditions
Additional information on the loan
Partner banks of OJSC "AVTOVAZ" in the LADA Finance program: Sberbank of Russia OJSC (General license of the Central Bank of the Russian Federation No. 1481), VTB 24 (CJSC) (General license of the Central Bank of the Russian Federation No. 1623), GPB (OJSC) (General license of the Central Bank of the Russian Federation No. 354 ), OJSC "URALSIB" (General license of the Central Bank of the Russian Federation No. 30), LLC "Rusfinance Bank" (General license of the Central Bank of the Russian Federation No. 1792). Addresses of partner banks on the Internet: www.sberbank.ru, www.vtb24.ru, www.gazprombank.ru, www.bankuralsib.ru, www.rusfinancebank.ru
The indicated interest rates per annum from 0.0% represent the client's costs associated with obtaining a loan from partner banks for the purchase of a LADA car while simultaneously providing OJSC AVTOVAZ with a special price for a car purchased using credit funds. Lending at 0.0% per annum is provided by all partner banks of the LADA Finance program under certain, fixed conditions for the loan term and the amount of the initial payment. Conditions vary depending on the partner bank. For conditions other than those defined under 0.0% APR programs, the loan characteristics in terms of the advertised annual percentage rate will differ. The advertised interest rate reflects the borrower's expenses in the process of implementing the LADA Finance program, as if he had taken out a loan at the specified interest per annum to purchase a LADA car at the retail price.
The program is valid upon concluding a loan agreement on the following conditions: loan term - 12, 24, 36, 48, 60 months (depending on the partner bank), loan currency - Russian rubles, interest rate ranges from 7.83% to 19% per annum in rubles (depending on the size of the down payment, loan term and partner bank). Down payment - from 15%. Minimum loan amount from RUB 15,000. up to 100,000 rub. (depending on the bank), maximum loan amount is RUB 300,000. The size of the one-time commission for issuing a loan is from 4,500 to 6,000 rubles. (depending on the bank, Sberbank of Russia - according to bank tariffs).
Insurance conditions
Sberbank of Russia OJSC: compulsory CASCO insurance. Insurance partner companies of the bank: CJSC "AIG Insurance and Reinsurance Company", OJSC "AlfaStrakhovanie", OJSC "Military Insurance Company", LLC "Renaissance Insurance Group", CJSC "GUTA-Strakhovanie", OJSC Insurance Company "ZHASO", OJSC "Ingosstrakh", OJSC "Kapital Insurance", CJSC "MAKS", CJSC "SK" "Megaruss-D", OJSC "Moscow Insurance Company", Insurance CJSC "MSK" -Standard>, Insurance OJSC <National Insurance Group>, LLC <SK <ORANTA>, LLC <First Insurance Company>, OSAO <RESO-Garantiya>, System Companies <Rosgosstrakh>, OJSC <ROSNO> , OJSC <Russia>, OJSC <SK <Russkiy Mir>, SOJSC "Russian Insurance Center", OJSC "SOGAZ", LLC "SK <Soglasie", CJSC "SG "Spasskiye Vorota", LLC "SO <Surgutneftegaz", CJSC "Insurance Group "UralSib", LLC SK "Zurich". Retail>, OJSC <SK <Sheksna>, OJSC <SK <Energogarant>, OJSC <GSK <Yugoria>.
VTB 24 (CJSC): For the programs "AutoStandard", "AutoLight", "AutoExpress", CASCO insurance is required. Insurance companies-partners of the bank: OJSC "Alfastrakhovanie", OJSC "Military Insurance Company", LLC "VTB-Insurance", CJSC "UTA-Strakhovanie", OJSC "INGOSSTRAKH", CJSC "MAKS", OJSC Interindustry Insurance Center, OJSC Moscow Insurance Company, LLC SK ORANTA, LLC First Insurance Company, OJSC Insurance Company Progress-Garant, LLC RENAISSANCE GROUP INSURANCE>, OJSC "Reso-Garantiya", Group "Rosgosstrakh", OJSC "ROSNO", OJSC "SOGAZ", LLC SK "Soglasie", CJSC "Insurance Group "UralSib", LLC SK " Zurich. Retail>, OJSC SK "Sheksna", OJSC "Energogarant", OJSC GSK "Yugoria", SZAO "MSK-Standard", CJSC SG "Spassky Gate".
GPB (OJSC): compulsory CASCO insurance. There are no restrictions on the choice of insurance companies.
OJSC "URALSIB": compulsory CASCO insurance. There are no restrictions on the choice of insurance companies.
LLC "Rusfinance Bank": compulsory CASCO insurance, as well as the life and health of the borrower for the entire contractual term of the loan; inclusion of the client's insurance costs (CASCO, as well as life and health of the borrower) in the loan amount. The bank's partner insurance companies: for CASCO insurance - LLC SK "Soglasie", SG "Kompanion", OSAO "Russia", OJSC "Rosstrakh", CJSC SK "Megaruss-D", CJSC SK "MAX" ; for life and health insurance of the borrower - SogeCap.
For conditions other than the program (other currency, loan term, down payment, insurance conditions), the loan characteristics may differ from those indicated above. When repaying a loan through other credit organizations, payment systems, or Russian Post, a commission is charged for transferring funds in accordance with the tariffs of these organizations.
The loan program is valid until June 30, 2010.
Lada Finance – customer reviews
“I am an employee of a car dealership (if anything, not Lada). We provided a 10 percent discount on the first or family car. There are many conditions to get it: it is provided only when buying a car on credit through Lada Finance, you must have life insurance, in general, the real benefit is at least 30 thousand...”
“Tete purchased a Lada Vesta through Lada Finance, so everything is fine. Although we had cash to buy a car right away, we took out a loan to get a discount of 50 thousand rubles.”
“Take out life or car insurance. The main thing is that the insured be a large company. And not an individual entrepreneur or an individual. Then you go with this insurance contract and say that I don’t need your insurance and you get your money back. I took out a loan, they gave me insurance for 9 thousand. I returned everything the next day. Well, the money is only within 2 weeks. I bought Lada X-Ray through Lada Finance"
All models of the official Lada manufacturer are available for purchase on credit:
- Lada Vesta on credit
- Lada Vesta Sport on credit
- Lada Vesta Cross on credit
- Lada Vesta SW on credit
- Lada Niva on credit
- Lada Vesta SW Cross on credit
- Lada XRAY on credit
- Lada XRAY Cross on credit
- Lada Granta on credit
- Lada Granta Liftback on credit
- Lada Granta Universal on credit
- Lada Granta Hatchback on credit
- Lada Granta Cross on credit
- Lada Largus on credit
- Lada Largus Cross on credit
- Lada Largus van on credit
- Lada Niva Legend 3dv on credit
- Lada Niva Legend 5door on credit
