Car loan without surprises: how to choose a favorable offer and avoid falling into a debt trap

For Ukrainians, cars have long been not just a dream but a necessity. People buy cars in different ways: some choose new models from a car dealership, others buy used cars on the domestic market, or import cars from Europe, the US, South Korea, or China.

When the full amount is not enough, a car loan comes to the rescue. With prices for new and used cars rising and purchasing power falling, car loans are becoming the only realistic option for many people to buy a car.

LIGA.net has found out the main thing in this matter: how much a car loan really costs in Ukraine and how not to lose more than you gain.

From this material you will learn:

• what are the real rates offered by banks;

• what are the requirements banks set for borrowers;

• how much money do you need to have for a down payment on a car;

• is it really possible to get a car cheaper using discounts;

• why even a "loan at 0,01%" can cost tens of thousands of hryvnias in overpayment.

Separately, we analyzed the popular Renault Bonus program: we calculated all the costs and hidden fees and determined whether it is really profitable.