The present-day generation lives at a high speed, and this rhythm becomes more and more rapid. To save time for everywhere and everything people use motor transport. But unfortunately pace of life is many times higher than wages increase. Therefore purchase of a car is available not to everyone. In this case car loans may be useful.
To arrange a loan bank requires following:
• Passport confirming the person of the borrower and identification code;
• Agreement or deed which was drawn up at car sales center;
• Information on income, or salary certificate;
• Initial fee for purchase.
All these documents are submitted for consideration to the specialist of the bank who is engaged in the expert analysis for decision making about loan granting. The decision can be made within two days or two weeks. If such situation doesn’t suit the borrower, he may apply to banks and the credit institutions for registration of quick loan. Always it is worth remembering that quick loans usually have more strict requirements. Therefore, you shouldn’t be scared that financial institution considers requests too long. Often it occurs for the reason that the credit is granted on a second-hand car with unknown history of operation.
If the bank approved financing of car purchase the guaranty letter is sent to the client, which is submitted to the car sales center. The first fee buyer pays for the car at the sales center. Besides, car registration and compulsory transport insurance are paid at the vehicle sales center.