Quite often, borrowers of all kinds of loans to overestimate their physical capabilities and become bank debtors.
If the bad loans that have lender had serious delinquencies, a mortgage, the goods purchased on the bank loan funds may be confiscated.
In order to get your money back,bank financial institution exposes the confiscated vehicles for sale. Despite. that the cost of such machine is much less than the market by 10-40%, many motorists are not able to buy it for cash to the seller the full amount of the item immediately and completely. That is why the bank, which confiscated the vehicle, offers a loan for its purchase.
To this end, the potential borrower mustvisit the pages of the sites of credit institutions that are engaged in the implementation of vehicles seized from bank debtors. Then he has to go to the office of the selected bank with a package of necessary documents, which includes a national passport, certificate of income or salary.
I must say that the conditions for granting loanson the confiscated car is more than profitable, but to the borrower's candidacy requirements loyal. This is due to the fact that not every motorist wants to regularly sit behind the wheel of a used vehicle. Also, many drivers - people are superstitious. They honestly believe that once the car was confiscated once, it definitely confiscated again.
Most seized from unreliablecreditors, depositors cars sold at auction, and after the approval of the bank loan application and inspection of the machine, one should write and send a statement of the bank employees to participate in the auction. Then leave a prepayment for vehicles. These potential buyer is required to return if he does not win the auction.
If the auction is won, then between the bank andconfiscated the car buyer credit agreement is a credit. Collateral in this case serves as a pre-owned vehicles.
On the one hand, the purchase of seized from debtormotor vehicle credit - favorable financial deal. On the other hand, a used car - is not a new product, so the motorist may have technical problems in the future, this transport. Although lenders are required to diagnose the technical condition of the car. In addition, there may be legal problems. For example, the former owner, whose car was confiscated, may apply to the courts with a claim on the financial institution. Moreover, the court's decision to the car will be removed from the new owner.