There are risks behind zero down payment.
Judging from the down payment of car loans, credit card installment loans do have advantages. The average down payment required for personal automobile consumption loans of traditional banks is 30%, while that of auto financing companies is 20%, while the minimum down payment for car purchase by installment with bank credit cards is zero.
However, there are hidden concerns about the loan interest rate behind the zero down payment, so as not to affect the mood and progress of car purchase. Here, in the process of car selection, we must learn to compare and calculate various loan schemes to buy a car, and strive to get tangible benefits from the installment loan of bank credit cards.
The preferred bank for loan to buy a car
In the survey of consumers' intention to buy a car with a bank loan, 8 1.8% of the respondents said they would "buy a car with a loan", 8. 1% said they would not, and 10.2% said they were "uncertain".
At present, bank loans to buy a car generally go through relevant procedures through banks and auto financing companies. However, in the survey, most respondents prefer to buy a car with bank loans, of which 55.8% choose "personal car loan products from banks" and 43.2% choose "installment products from bank credit cards". 38.8% chose "auto loan products of auto enterprise finance company".
It is understood that the car loans of major banks basically take two lines: one line is to cooperate with 4S stores, where customers buy cars. If customers need loans, 4S stores will directly introduce them to cooperative banks; The other line is direct car loans. Customers who want to borrow money to buy a car can directly contact the bank outlets and go to the bank to handle the relevant bank loan business. These two ways, generally speaking, it is relatively simple to borrow money from the bank to buy a car through a 4S shop, but the cost is higher. And customers do bank direct car loans, the procedures are more troublesome, but the cost is lower. Because the bank's audit procedures for lenders are complicated, it has higher requirements for the lender's occupation, income and credit.
Is it worthwhile to buy a car at "zero interest rate"?
As early as May last year, Southeast Mitsubishi Motors implemented a "zero interest rate" car purchase plan throughout the province. After entering the summer, this "zero interest rate" trend has intensified.
In June, FAW Toyota launched the "Zero Interest Car Purchase, FAW Hecheng" mortgage activity. Consumers who choose mortgage repayment have a one-year repayment plan of "zero interest rate". Its advertisements are very attractive. "Take the Crown Olympic Edition promoted by FAW Toyota as an example. The price of the online car is 352,000, the down payment is 30%, and the remaining 246,400 is mortgaged. Under the zero interest rate scheme, every 1 ten thousand yuan can save 576 yuan, and 24.64×576 yuan = 14 192 yuan. Did you get a look at him? This is equivalent to splitting the price of the online car into parts for installment payment, which can save nearly 1.5 million yuan in vain, which is faster and more convenient than bargaining with the sales consultant in the exhibition hall. "
The background of "zero interest rate" car loan is that the financial company under the large joint venture manufacturer has officially put into operation. Their purpose is not to make money with loans, but to sell their cars, so that consumers who don't have enough cash to buy a car, but are worried that loan interest will become a burden of life, can take out their money with confidence.
"To be honest, buying a car at' zero interest rate' does not save money." The salesman in a 4S shop admitted that it would be more cost-effective to pay in one lump sum now that cars are discounted at intervals.
In addition, the disadvantage of "zero interest rate" car purchase is that there are fewer models to choose from, which are often just a few fixed models introduced by manufacturers. Its core is to promote sales and stimulate consumer loans. The term of "zero interest rate" is mostly one year, which is of little significance to consumers who need loans for more than one year.
Therefore, the introduction of "zero interest rate" car loan does not apply to all consumers, it is aimed at specific consumer groups.