1, bank loan to buy a car
Generally, the procedures and procedures for applying for a bank loan to buy a car are quite strict. The down payment is usually around 30%, and the loan time can last up to 5 years, so the corresponding monthly pressure is relatively small. If the lender with real estate can choose real estate mortgage loan, it is relatively easy to approve the loan, and there are almost no restrictions on the available models. This method is suitable for lenders with good credit records and stable income.
2, credit card installment loan to buy a car
However, the expected annualized interest rate of buying a car by credit card installment loan is relatively low, but the credit requirement is high. The most obvious advantage of buying a car with a credit card loan is the expected annualized interest rate of the loan. Ordinary credit cards owned by consumers can be applied for, and there are a wide range of choice modes.
The expected annualized interest rate for buying a car with a credit card loan is low, but only if you need a higher credit line. For example, some banks require that the credit card itself must be a gold or platinum card, while others allow cardholders with good credit records to apply for a credit line separately and purchase cars by stages.
3. The auto financing company borrows money to buy a car.
Auto financing companies have the lowest loan threshold, and the monthly supply pressure is relatively small, but the handling fee and interest are relatively high. For some people who can't pass the examination of commercial banks and can't bear the pressure of monthly credit card payment, you can choose this method.
I would like to remind you that before buying a car with a loan, you should choose a suitable loan method according to your own economic conditions, so as not to bring great economic pressure to yourself and bring some troubles to your later life.