The beginning of December is always a hot time for the purchase of a new car. Motor shows give decent discounts at the end of the year. Our post is for those who are interested in buying a car. But on credit. At the moment in Russia, there are the following ways to buy a car: leasing and car loans. Here you can also add consumer credit and preferential car loans. Let’s try to compare them and understand the pros and cons.
LEASING – this, in fact, renting a car with the subsequent right of redemption. Chose a car, ride it, pay monthly, but the car is owned by the LEASINGER. At the end of the contract (usually 36 months or 3 years), you either return the car, or buy it out (the so-called “PURCHASE PAYMENT”),
In the US or Europe, leasing has been actively used for more than 50 years and almost more than half of all cars have been bought that way. In Russia, according to statistics, the share of the leasing market is about 9%, and clients are mostly only legal entities.
To make it easier to compare, let’s move on to the numbers. For example, it is planned to purchase a car worth 600 thousand rubles, the first installment of 20% or 120 thousand rubles. Term 3 years, interest rates take the average for the market, CASCO (approximately) – 60 000 rubles., OSAGO – 5 000 rubles.
Car loan: 14% per annum, necessarily CASCO, the total cost of the car is 775 000 rubles, overpayment is 175 000 rubles.
Preferential car loan: 9% per annum, also mandatory CASCO, the total cost of the car 734 000 rubles, overpayment – 134 000 rubles.
Consumer loan: 17% per annum, bonus – there is no need to buy CASCO, the total cost of 741,000 rubles, overpayment of 121,000 rubles.
Car leasing: 13% per annum, CASCO – here is an important point, not all customers know that when buying a car for leasing, it is likely that the lessor takes on the car insurance, the total cost of the car 702,000 rubles, overpayment – 102,000 rub.
After these simple calculations we see that leasing is the most profitable option, of course, provided that the CASCO leasing company takes over. Nevertheless, leasing is not entirely understandable to our mentality, do not forget that you pay, and the car belongs to the lessor until the redemption payment is paid.
Who will benefit from leasing? First, people who are free from stereotypes, and those who regularly change cars. Roughly speaking, they drove by car for 3 years, handed over the old, took a new one.
Summarizing, leasing is still beneficial for legal entities, especially if the organization is a VAT payer, since there is an opportunity to return VAT. For individuals, leasing is always more expensive and not profitable.