Car loan without CASCO for a new car: which banks give and under what conditions

Buying a new car on credit without compulsory CASCO insurance is the dream of many car owners. After all CASCO increases the cost of the loan by 10-30%, and in case of an accident or theft, policy payments often do not cover actual losses. However, banks are extremely reluctant to issue such loans: for them it is an increased risk, and for the client it is a chance to save hundreds of thousands of rubles.

In 2026, the situation changed: some banks began to offer car loans without reference to CASCO, but with strict restrictions. In this article we will look at which banks give loans for a new car without mandatory CASCO insurance?, under what conditions, what pitfalls await borrowers and how to minimize risks when refusing full insurance. We will also compare the offers of the top 5 banks and show you how to calculate the real overpayment, taking into account all commissions.

Why do banks require CASCO for a car loan for a new car?

Banks insistently require CASCO registration for one reason: a car is collateral. If the borrower stops making payments on the loan, the bank will repossess the car and sell it to get their money back. But if the car is stolen, burned down, or gets into a serious accident, its market value will drop sharply, and the bank will be left without covering losses.

According to Central Bank of the Russian Federation, in 2023, damage from theft and total damage to new cars on credit amounted to more than 12 billion rubles - and all these losses fell on the shoulders of the banks. Therefore, CASCO for them is not a whim, but a way to protect investments. However, there are nuances:

• 🔹 For the bank CASCO is a money back guarantee even in case of total loss of the car.
• 🔹 For the client this is an additional burden: the average cost of a policy for a new car is 80,000–150,000 rubles per year.
• 🔹 Alternative: some banks agree to a loan without CASCO, but increase the rate by 2-4% or require a larger down payment.

It is important to understand that even if the bank does not formally require CASCO, it can include its cost in the body of the loan or force you to issue a policy through a “partner” insurance company. Therefore, always read the contract before signing!

Which banks provide car loans for a new car without CASCO in 2026

To date only 5-7 large banks officially offer car loans without mandatory CASCO, but with serious restrictions. Here is the current list at June 2026:

Bank	Minimum rate, %	Down payment, %	Max. loan term, years	Conditions for CASCO
SberBank	12,9	20	5	Does not require, but increases the rate by 1.5% without a policy
VTB	13,5	15	7	Mandatory only for cars more expensive than 3 million rubles.
Alfa-Bank	14,2	10	5	Without CASCO only for clients with a salary card
Rosselkhozbank	11,8	30	5	Without CASCO, but only for domestic cars
Gazprombank	12,5	20	5	Requires CASCO only for the first 2 years of the loan

Please note: even if the bank does not officially require CASCO, it may:

• 📌 Raise your bid on 1-3% "for the risk."
• 📌 Require MTPL with extended coverage (for example, with anti-theft protection).
• 📌 Limit the list of cars (for example, only domestic brands or models cheaper than 2.5 million rubles).

Hidden conditions and pitfalls of a loan without CASCO

At first glance, a loan without CASCO seems profitable: there are no extra costs for insurance. But in practice, banks compensate for risks in other ways. Here 5 most common "traps":

⚠️ Attention: If you refuse CASCO after approval of the loan (for example, do not renew the policy for the second year), the bank has the right increase the rate to 20% or require early repayment. This is stated in most loan agreements.

• 💰 Increased rate: Without CASCO the bank can add +2-4% to the base rate. For example, instead of 12% you will receive 16%.
• 📉 Larger down payment: Often required 30-50% instead of the standard 10-20%.
• 🔒 Title lien: The bank retains the original title until the loan is fully repaid, which complicates the sale of the car.
• 📑 Additional fees: For example, a fee for “servicing a credit account” (0,5-1% from the monthly amount).
• 🚗 Restrictions by car brand: Many banks give loans without CASCO insurance only for domestic cars (Lada, UAZ) or budget foreign cars (Renault Duster, Kia Rio).

Another important point: if you still apply for CASCO insurance, but not through the bank’s “partner” insurance company, you may lose the discount on the rate. For example, in SberBank when taking out a policy in SberInsurance the rate is lower by 0,5%.

What happens if you don’t apply for CASCO after the loan is approved?

If the bank approved the loan with the condition of subsequent registration of CASCO insurance (for example, within 30 days), and you did not do this, then:

1. The bank will increase the rate to the maximum (up to 20-22%).

2. May require early repayment of part of the loan.

3. In some cases, he will terminate the contract and demand the full amount to be returned at once.

All these conditions must be specified in the loan agreement. Carefully read the paragraph “Obligations of the borrower”!

How to reduce risks with a car loan without CASCO

Refusal of CASCO saves money, but increases financial risks. If the car is stolen or seriously damaged, you will still owe the bank the full amount of the loan, even if the car is no longer roadworthy. To minimize risks, follow this checklist:

Also consider alternative insurance options:

• 🛡️ Partial CASCO: You only insure theft and total (the cost of the policy is reduced by 2-3 times).
• 📱 Electronic CASCO: Some insurance companies (for example, Tinkoff Insurance) offer a policy with payment only for the actual days of use of the car.
• 🏦 Credit insurance: Protects against loss of income (if you are unemployed), but does not cover auto damage.

If you still decide to refuse CASCO, be sure to check:

1. Is there any in your city official dealership selected brand (for warranty repairs).
2. What is car theft statistics for this model (data can be found on the website Ministry of Internal Affairs of the Russian Federation).
3. Does the bank offer preferential terms when installing a tracker (some banks reduce the rate by 0,3-0,5%).

Step-by-step instructions: how to get a car loan without CASCO

To increase your chances of getting a loan approved without mandatory CASCO, follow this algorithm:

1. Check your credit history:

   Order a report from BKI (for example, via Public services or My Credit Rating). If you have any late payments, fix them first. Banks are more willing to make concessions to clients with credit rating 700+.

2. Collect a package of documents:

   You will need:

   • 📄 Passport + second document (SNILS, driver’s license).
   • 📄 Certificate of income (2-NDFL or according to the bank form).
   • 📄 A copy of the work book (if not officially issued).
   • 📄 Documents for the car (PTS, purchase and sale agreement).

Select a bank and submit an application:

It's better to contact 2-3 banks at the same timeto compare conditions. Use online calculators on bank websites to estimate the overpayment. For example, in SberBank You can submit a preliminary application through SberBank Online.

Agree with the dealer:

Some car dealerships have partnership programs with banks and can “push” a loan without CASCO. Check with the manager if such options are available. For example, Auto special center often collaborates with Rosselkhozbank under preferential programs.

Read the contract carefully:

Pay attention to the points:

• 🔍 Conditions for early repayment (are there any penalties).
• 🔍 Can the bank require you to issue CASCO insurance later?
• 🔍 What are the sanctions for failure to comply with the conditions (increase in rates, penalties).

💡

The most important stage is checking the loan agreement. If it contains the clause “The Bank has the right to require CASCO registration at any time,” then it is better to refuse such a loan. Look for the wording “CASCO is not required for the entire loan term.”

Comparison of a car loan with and without CASCO: which is more profitable using an example

Let's compare two options for buying a new one Kia Rio cost RUB 1,800,000:

Parameter	Loan with CASCO	Loan without CASCO
Down payment	10% (RUB 180,000)	30% (RUB 540,000)
Rate, %	12,5	15,9
Loan term	5 years	5 years
CASCO cost (per year)	90,000 rub.	—
Monthly payment	RUB 32,400	RUB 28,700
Overpayment on loan	540,000 rub.	482,000 rub.
Total cost of the car	RUB 2,760,000	RUB 2,322,000

At first glance, a loan without CASCO is more profitable: the savings amounted to 438,000 rub.. But don't forget about the risks:

• 🚨 If your car is stolen or completely destroyed, you will still owe the bank RUB 1,260,000 (loan body).
• 🚨 If you refuse CASCO after approval, the bank may increase the rate to 18-20%, and the savings will disappear.
• 🚨 Without CASCO it is more difficult to sell a car on credit: buyers do not want to take risks.

Conclusion: a loan without CASCO is beneficial only if:

• 💵 You have a reserve fund in case of theft/accident.
• 🚗 You buy a car with low theft rate (for example, Lada Vesta or Hyundai Solaris).
• 📉 You are ready to pay an increased rate and a large down payment.

What to do if the bank refuses a car loan without CASCO

If you are denied a loan without mandatory CASCO insurance, do not despair. There are several alternative ways to buy a new car:

• 🔄 Consumer loan: Apply for a non-targeted loan to purchase a car. Higher rates (from 16%), but CASCO is not required. Suitable if the loan amount is up to 1.5 million rubles..
• 💳 Credit card: Some banks (eg. Tinkoff) give a limit up to 1 million rub. under 12-15% with a grace period of up to 120 days.
• 🏦 Secured loan: If you have other real estate or a car, you can take out a loan secured by the property. Rates - from 10%.
• 🤝 Leasing: Some leasing companies (for example, Europlan) do not require CASCO, but take an increased advance (40-50%).
• 💰 Cumulative scheme: Save money for a car for 6-12 months, and then take out a loan for a smaller amount (banks are more willing to make concessions with a large down payment).

⚠️ Attention: If you take out a consumer loan or credit card to buy a car, do not tell the bank about the intended purpose of the funds. Otherwise, they may require you to apply for CASCO insurance or refuse a loan.

Another option - buying a car in installments from a dealer. Some salons (for example, Motorhome or Rolf) offer interest-free installments for 6-12 months, but require a large down payment (50-70%). This is more profitable than a loan, but is only suitable for those who have a significant amount on hand.

FAQ: Frequently asked questions about a car loan without CASCO

Is it possible to refuse CASCO insurance after loan approval?

Technically it is possible, but the bank has the right:

• Raise your bid to 20%.
• Request early repayment of part of the loan.
• Terminate the contract (in rare cases).

All these conditions must be specified in the loan agreement. If there is a clause “The Borrower undertakes to maintain a valid CASCO policy,” then you cannot refuse.

Which banks provide car loans without CASCO for foreign cars?

In 2026 only SberBank, VTB and Alfa-Bank Such applications are considered, but:

• Maximum cost of a car - 3 million rub..
• Down payment required 30%.
• The rate will be higher by 1-2%than with CASCO.

For premium brands (for example, BMW, Mercedes) loans without CASCO are not issued.

What is more profitable: a loan without CASCO or with CASCO, but at a low rate?

Need to count total overpayment, not just the monthly payment. Example:

• 📌 WITH CASCO: rate 12%, payment 30,000 rub., but + 90,000 rub./year for insurance.
• 📌 Without CASCO: rate 15%, payment 32,000 rub., but there are no additional expenses.

In the first case, you will overpay in 5 years RUB 1,050,000 (including CASCO), in the second - 900,000 rub.. More profitable second option, but only if you are sure that you will not get into an accident.

Is it possible to apply for CASCO insurance later if the bank does not require it immediately?

Yes, but:

• The bank may not give a discount on the rate (if it was tied to CASCO).
• The cost of the policy will be higher, since the car is no longer new.
• Some insurance companies refuse to insure a car on credit if CASCO was not issued immediately.

It is better to clarify this point with the bank before signing the contract.

What to do if a car is stolen on credit without CASCO?

You will still owe the bank the full amount of the loan. Your actions:

1. Immediately notify the police and receive a certificate of theft.
2. Submit an application to the bank asking for debt restructuring.
3. If you have insurance against theft through compulsory motor liability insurance, submit documents to the insurance company.
4. If you can’t pay, apply for restructuring or refinancing.

The bank will not write off the debt, but it may meet halfway and reduce payments.