1. Is it better to buy a car or a house, a credit loan or a mortgage loan?

In response to this problem, many people may think that mortgage loans are more cost-effective, because mortgage loans have low interest rates, long terms, and can repay the principal after interest.

In fact, mortgage loans and credit loans each have advantages and disadvantages. Which product you choose in the end should be chosen based on your actual situation and cannot be generalized.

Mortgage loan

Advantages:

1. Low interest rate, minimum annual interest rate is 3.7%

2. Long term, up to 30 years Year period

3. High credit limit, you can borrow millions or tens of millions

4. High capital utilization rate, you only need to pay interest in the early stage, and the principal will be repaid in one go at maturity

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5. Low requirements. Compared with credit, the requirements are much lower

Disadvantages:

1. Must have collateral

2. The procedures are complicated, both husband and wife need to be present to sign

3. The loan is slow, normally it takes 5-10 days

4. The loan cannot be repaid when it expires, and the collateral may be stolen by the bank Disposal.

Credit loan

Advantages:

1. Low threshold, no mortgage, no guarantee, relatively low entry threshold.

2. The loan is released quickly. If you apply quickly, you can apply on the same day and the loan will be released on the same day.

3. The procedure is simple. You only need to provide basic information and proof of financial qualifications to apply.

Disadvantages:

1. The amount is small, generally not exceeding 500,000.

2. The term is short, usually within 48 periods.

3. The interest rate is high. Compared with mortgage loans, the interest rate will be higher.

Generally, if the demand for funds is small and time is tight, credit loans are preferred; if the demand for funds is large and time is not urgent, mortgage loans are preferred.

Loans should be matched with loan products with the lowest interest rates based on their own specific conditions to meet demand.

2. Which is better, a car mortgage loan or a house mortgage loan?

If it is a mortgage loan, a house loan is better than a car loan,

Because a house mortgage loan can be Choose to wash the principal first and then pay the principal and interest in equal amounts over a long period of time. The interest rate is also lower than that of a car. Car loans generally only last for 3 years, and the loan amount is not large, so it is better to use a house for a loan.

3. When buying a car with a loan, which one should I choose, a bank or a financial company?

Nowadays, fewer and fewer people buy cars with full payment, and many people are unwilling to buy cars with full payment. After all, the financial pressure of full payment is high. So how much do you know about buying a car with a loan? What is the difference between a car finance company loan and a bank loan? Which of these two loan options is more cost-effective?

1. Auto finance companies

Most are jointly established by auto manufacturers and financial institutions. Therefore, loans from auto finance companies can be directly entrusted to 4S stores. Its advantage is the review threshold. Low, and the procedures are convenient and the loan is fast. The down payment ratio is more generous, but the disadvantage is that the rates are generally higher than bank car loans.

2. The bank’s car loans mainly include car loans and credit card installments

1. Car loans generally require a down payment of 20% to 30% and a loan term of 3 to 5 years. Under normal circumstances, banks The 1-year installment interest rate is about 4%-5%, the 2-year installment interest rate is 8%, and the 3-year installment interest rate is around 10% to 12%. Bank car loans are more difficult than loans from car finance companies. Some banks require asset mortgages and even local accounts. The loan threshold is relatively high and is more suitable for users with good financial conditions and good qualifications.

2. With credit card installment, the threshold for buying a car is lower, and only requires a relatively high credit card limit or a good credit record. At present, the main companies that handle credit card installment car purchase business are: China Construction Bank, Industrial and Commercial Bank of China, China Merchants Bank and China Minsheng Bank, etc. Among them, China Merchants Bank requires a down payment of 30%, ICBC can pay the full amount in installments, and other banks can provide 0 handling fees, but only designated models can be installed in installments. There are generally three options for installment types: 12 months, 24 months and 36 months. In terms of fees, the handling fee needs to be paid in one lump sum when repaying the first installment. If the loan is repaid in advance, the handling fee will not be refunded.

According to statistics from China Construction Bank, Bank of China, and China Merchants Bank, the handling fee for a 12-month installment is about 2.8% to 4.4%, the handling fee for a 24-month installment is about 4% to 7%, and the handling fee for a 36-month installment is 7.5%. to about 12%.

4. Calculation of interest on real estate mortgages and credit loans for car purchases

The interest rate for Postal Savings Bank consumer loans is between 7.02% and 7.02% for a three-year period. If the loan is 200,000 yuan with a term of 3 years, the total interest payable is 38,880 yuan to 42,120 yuan. This type of loan generally repays interest every month, and the principal and remaining interest are repaid when due. Extensions cannot be applied for. You can only repay the loan in full first and then reapply.