The Belarusian used car market turned out to be oversaturated, as the import of the most popular cars with 3-5 years of age increased by almost 5% over the first four months of the current year, while those older increased by 20% compared to the same period last year.

The cars were initially planned to be driven to Russia, but the re-export didn't happen due to increased recycling fees, so they "got stuck" there, and as a result prices for them decreased: those cars that a year ago easily "sold" for 13.5 thousand dollars are now barely selling for 12.

But there is one nuance: if the "rock-bottom price" of European budget brands is around the 10 thousand dollar mark, then Chinese cars with low mileage keep a stable price at the level of 30 thousand.

Banks don't stay aside from the car business and are ready to help finance the purchase of used cars with their credits.

Let's examine bank offers and calculate how much it will cost the family budget to buy one of the most popular among Belarusians — Peugeot 308 SW with a 1.5 liter diesel engine.

What conditions do banks offer for credit

Standard conditions offered by banks look like this: 10% is paid by the client themselves, the remaining 90% is provided by the credit and financial institution as a loan for a term of 10 years. But there is one bank ready to provide a loan for only 2 years.

So we are buying a Peugeot 308 SW for 12 thousand dollars, which at today's exchange rate (as of June 9) according to the National Bank is approximately 33,600 Belarusian rubles. The bank will provide a credit of 30,240 rubles. From this figure we will proceed.

Top 5 most favorable conditions for car enthusiasts

Let's start with the most stringent of the favorable ones.

When applying to VTB Bank, you should know that the credit will be provided at 17.96% per annum for a term of only up to two years, but without collateral or guarantors. The car can be purchased from both legal entities and individuals. Under such constrained conditions for the client, they will have to pay approximately 1,515 rubles monthly, which is slightly more than half of the average gross salary in the country.

If we are buying a car no older than 8 years, additional financing can be obtained by applying to Bank "Dabrabyt," ready to provide the "Autonado" credit at a rate of 17.96% per annum for a term of 10 years. However, the car can be purchased only from legal entities registered in Belarus. The monthly payment will be only 705 rubles.

The same amount will need to be paid when using the "Car with Mileage" loan from Belgazprombank. Moreover, the list of sellers has been expanded: the car can be purchased from individuals, individual entrepreneurs, legal entities, and car dealers.

Belvnesheconombank offers potential car owners a loan with a one-month grace period, during which 9.9% per annum is charged, while for the rest of the time the rate will be 17.96% per annum. The monthly payment after the end of the grace period will be approximately 704 rubles.

Belagroprombank provides the most advantageous car (electric car) loan, which can be purchased from individuals and dealers at 17.75% per annum. Each month you will need to pay 700 rubles.

As we can see, the payments are quite affordable for the average Belarusian family budget. There is nothing surprising in the fact that roads are becoming increasingly congested and parking spaces are critically insufficient.

Source: mlyn.by