Car loans generally choose bank loans, but in fact, it is also time-consuming and laborious to travel between banks and 4s stores. In fact, you can also choose car loans from auto finance companies, and BMW auto finance can provide this service. So what are the specific financial plans? Let's take a look.
Dai Yue financial plan
You can choose 0%-30% flexible balance to pay, which can reduce the pressure of many months. The down payment ratio starts from 20% (new energy vehicle 15%), and the loan period can be 12, 24 or 36 months. The final payment can be paid off or postponed at the end of the period.
Excellent loan financing plan
The minimum down payment is 20%, which saves you the down payment. The loan term is 36 months or 48 months, and the annual repayment ratio is optional, so you can share the pressure of one-time repayment of the final payment and enjoy a lower monthly payment. Help you to operate funds flexibly and optimize the use of cash.
Standard Zhixiang loan
The product covers the whole vehicle with a down payment of 20% and a loan period of 24 months. The monthly payment is decreasing year by year, so plan your possible expenses in advance to ease the pressure in the future.
Officially certified used car loan
1, standard financial plan: 30% down payment, 12, 24,36 months flexible repayment period.
2. Flexible loan financing scheme: 30%-60% down payment, 24 or 36 months for repayment period, and 20%-33% for final payment.
3. Easy loan financial scheme: down payment is 30%-50%, annual repayment ratio is 65438+ 03%-20% of the loan amount, and the loan period is 24 or 36 months.
4. Intelligent financial management scheme: down payment is 30%, the loan period is 24 or 36 months, and the monthly payment is decreasing year by year.
Standard loan
The standard loan product refers to a certain proportion of the down payment for car purchase, and the loan part is paid in the form of equal monthly payment within the loan period. This product covers the whole automobile system and can meet all customers' different choices. Pay back on time every month and enjoy driving in advance.
Standard flexible loan
The product covers the whole vehicle, the down payment ratio is 20%-50%, the loan period is 36 months, and 40% of the final payment is paid at the end of the loan period, thus reducing the pressure of monthly payment. At the end of the loan period, you can also choose the following schemes according to your own wishes:
1. Pay the balance in one lump sum.
2. Extend the flexible balance to the loan term and continue to enjoy the loan service.
How to get a loan for buying a car?
Car loans are handled as follows:
1. The applicant chooses a car in the 4S shop, negotiates the price with the dealer, pays the down payment, and then signs a car purchase contract;
2. Go to the loan bank with the car purchase contract, ID card and real estate license, fill in the loan application form and submit the materials;
3. The bank accepts the loan application and reviews and evaluates the application;
4. Sign a loan contract with the applicant after examination and approval;
5. The applicant shall cooperate with the loan bank to complete the follow-up procedures, including mortgage registration and notarization;
6. The loan bank transfers the money to the account of the car dealer, and the applicant picks up the car in the 4S store.
Extended reading
Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new loan method that banks provide RMB-guaranteed loans to car buyers who buy cars at their special dealers. The interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal of a self-use car (non-profit family car or commercial car with 7 seats or less) purchased by the bank to the consumer, that is, the borrower. The higher the interest rate, the greater the repayment amount of consumers.
The conditions required for a car loan are:
1. Have valid identity documents and full capacity for civil conduct;
2. Can provide proof of fixed and detailed address;
3. Have a stable occupation and the ability to repay the loan principal and interest on schedule;
4. Personal social credit is good;
5. Holding a car purchase contract or agreement approved by the lender;
6. Other conditions stipulated by the Cooperation Organization.
Automobile loan process:
1. Lead the customer to the bank's special dealer to choose a car and sign a car purchase agreement or contract;
2. The borrower applies to the loan bank for personal automobile mortgage;
3. Sign the contract with the consent of the investigation;
4. Go through the formalities of notarization and mortgage of automobiles.
5. The lender handles the loan;
6. After the loan is paid off, the lender cancels the pledge certificate and returns it to the customer.
Potential borrower
The borrower must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.
deadline
The term of automobile consumption loan is generally 1-3 years, and the longest is no more than 5 years. Among them, the term of second-hand car loan (including extension) shall not exceed 3 years, and the term of dealer car loan shall not exceed 1 year.
Introduction of automobile loan
There are various ways to buy a car loan. Different expected annualized interest rates, quotas, terms and repayment methods make car buyers see a variety of things, and choosing a car loan that suits them has become a topic of concern.
1. Banks apply for car loans (including personal consumption loans/car loans/credit card installment loans)
Loans to banks include direct customers, that is, individuals take the initiative to apply for loans from banks, which belong to personal consumption loans; The other is indirect, that is, car buyers choose banks that cooperate with 4S stores to apply for loans, which can generally be carried out by car loans or credit card installment loans. The above three loan methods all have the following characteristics:
Suitable for people: borrowers with good personal credit, stable work income, and guarantees and collateral.
Expected annualized interest rate: The expected annualized interest rate of bank car loans will fluctuate on the basis of the expected annualized interest rate of the central bank's personal loan benchmark (usually between-10%-30%). For example, for high-quality customers, BOC's car loan can be reduced by10%; ICBC will implement it according to the expected annualized interest rate increase 10% set by the central bank in the same period.
Tips: In the base year, the central bank expects the annualized interest rate to be 1- 6%, and the annual loan amount to be 1-3 years: for a new car, the maximum loan amount generally does not exceed 80% of the car price.
Guarantee method: the bank has strict requirements on the borrower's income, collateral and other assets, and the guarantee procedures are cumbersome.
Repayment method: average capital and equal principal and interest are the main methods, and only a few banks have flexible repayment methods, such as CCB and Bank of Communications.
Loan term: the longest is 5 years, and credit card installment payment generally does not exceed 2 years. Advantages and disadvantages of applying for a car loan from a bank;
Advantages: the bank has no requirement for loan mode, and supports multi-mode and multi-brand loans; The expected annualized interest rate of bank loans is lower than other methods; The applicant's materials are complete, and the bank loan time is generally 10-90 days.
Disadvantages: strict loan application conditions; Require consumers to make a down payment of 20%-40%.
2. Auto financing company
Most auto financing companies are jointly established by automakers and banks. General auto dealers will provide customers with auto financing company loan services, which generally have the following characteristics:
For the crowd: the down payment for car purchase is less (only more than 20%); Failing to meet the conditions for applying for bank auto loans; People who need more flexible repayment methods.
Expected annualized interest rate: the loan is convenient and fast, but the expected annualized interest rate is high (generally around 10%). Loan amount: under normal circumstances, 80% of the car price can be provided as mortgage/guarantee: generally, real estate and other collateral or guarantor are needed.
Flexible and diverse repayment methods: it can meet the needs of different car buyers and different income characteristics. Common repayment methods of auto financing companies are suitable for people:
Equal principal and interest: the monthly repayment amount is the same. Suitable for car buyers with stable income and expenditure.
Average capital: the monthly payment decreases month by month with the loan time, and the total interest expenditure is less than the equal principal and interest. Suitable for people who can accept the initial monthly payment.
Flexible credit granting: for example, the down payment is 50%, the remaining loan is 50% (the ratio of the down payment to the second installment can be adjusted), the interest of the same amount is paid every month during the loan period, and the final payment of the principal is paid at the end of the loan period. And when the loan expires, the car buyer can also have three choices: one-time payment, applying for deferred payment (that is, applying for a second loan) or replacing the used car with a new car. This method is suitable for people with short-term capital shortage, low monthly demand and uncertain income.
Installment repayment: the loan is divided into several stages, each stage contains several repayment stages, and the total repayment amount of each stage is different in each single stage. For example, the car loan of 6,543,800 yuan is divided into three sections, with the repayment of 20,000 yuan in the first year, 30,000 yuan in the second year and 50,000 yuan in the third year. When repayment is made in this way, there are three options at maturity (see Scheme 3). This method is suitable for people with uncertain income.
Advantages and disadvantages of applying for a loan from an auto financing company;
Advantages: low loan threshold and flexible repayment method.
Disadvantages: auto financing companies are mostly limited to a single car brand; The loan is expected to have a high annualized interest rate.
3. Other ways
Bank loan and auto financing company are two main ways of auto loan. Borrowing money by other means is generally in the following three situations:
(1) Auto financing companies without small-brand cars.
(2) Personal credit does not meet the application conditions of banks or auto financing companies; (3) The down payment of car buyers is not enough.
Advantages and disadvantages of other lending methods:
Loan channels: companies, guarantee companies, pawn shops, P2P loans, etc.
Advantages: the loan procedure is simple and the loan speed is fast.
Disadvantages: These methods all have access fees, and the expected annualized interest rate of loans is higher than the other two main methods.
In addition, car buyers should be careful of the following minefields:
Beware of conditional insurance, some dealers use a certain auto insurance as a cover, but force car buyers to buy designated auto insurance, which is often more expensive than buying it themselves. So sending insurance is not necessarily a good thing.
With zero expected annualized interest rate, many car dealers will waive car loan interest within 1 year, but consumers have to pay the car loan fee, which is actually the bank interest fee, but the name has changed.
Credit card installment payment may bring some problems: for example, if you don't repay on time, you will have to pay a penalty interest, which will affect your personal credit; After the car loan is completed, the credit card will be idle and an annual fee will be incurred.
Don't ignore the price concessions. Many car dealers offer interest-free car loans to car buyers, but car buyers should pay attention to the fact that they can't enjoy preferential car prices when enjoying interest-free car loans, but can only buy them at the manufacturer's guide price. The interest-free amount enjoyed may be less than the car price discount.
Liquidated damages, for those who intend to repay in advance, we should pay special attention to whether there are provisions on liquidated damages and the proportion of liquidated damages in the loan contract for prepayment.
How to get a car loan
At present, there are six main ways that riders can operate: collecting money from relatives and friends, bank loans, auto finance company loans, credit card loans, car loans from manufacturers and banks, and leasing loans.
Advantages and disadvantages of various loans to buy a car:
First, find relatives and friends to chip in to buy a car.
This is easy for everyone to understand, that is, to collect money from friends and relatives who have a good relationship and trust you to buy a car. As we all know, if you don't have a stable job or have a bad personality, rich relatives and friends will generally lend you some money. Lao Li 10000, menstruation 20000, brother 30000 ... It's not difficult to make up 65,438+00,000 at once. But you need to explain your repayment plan to them clearly, and you have to give them some interest. This saves trouble and is more reliable for relatives and friends. It is simpler and more reliable than all loan methods on the market. However, this is based on your family and friendship, and you must never break up because you can't pay back the money.
This way of buying a car is simple and quick, without any twists and turns, just agree on interest and discuss the repayment period, which is flexible and flexible. However, this method is not suitable for you to borrow a lot of money. It is not easy to have more than 30,000 to 50,000 relatives and friends.
Second, the bank car loan
That is, you apply for a loan from a bank to buy a car. Many banks have their own car loan business.
Advantages: the interest rate is low, there are almost no restrictions on vehicle selection, and the loan amount is relatively large. The loan term can be between 1-5 years, but it is generally 3 years.
Disadvantages: cumbersome procedures, need a lot of proof, sometimes need real estate, household registration and other requirements or even mortgage, strict examination and approval, long loan time.
This is suitable for high-quality customers with sufficient funds, high returns and stability. Such as civil servants, teachers, corporate executives and so on.
Third, credit card loans to buy a car.
Buying a car with a credit card loan is a common way. Credit card loans to buy a car only require consumers to have a fixed job and a stable income. If you plan to buy a car, but the money is limited, the fixed income is guaranteed, and the car loan method is more convenient.
Advantages: simple operation procedures, need for credit reporting, short examination and approval time, flexible application method, no need for property pledge, no need for guarantee companies and notarization intervention, and basically no need for hitchhiking fees.
Disadvantages: the bank credit card center will charge a certain fee, and the installment models that credit cards can provide are still relatively limited. Sometimes a city bank only cooperates with one or two manufacturers. In addition, the credit card installment loan amount is limited, which will not allow you to apply for a large car purchase.
This is suitable for working-class people who have certain funds, fixed income and security and buy some low-end models.
Fourth, manufacturers and banks cooperate in car loans.
The coverage of car loan cooperation between manufacturers and banks is relatively small, and some Chinese and Italian models cannot apply for such loans.
Advantages: simple approval procedure and high pass rate. Sometimes manufacturers will give car owners discounts or even interest-free, and the additional conditions will not be very harsh. Interest sometimes fluctuates with the length of your repayment cycle.
Disadvantages: the model is relatively simple, and it has to undergo certain qualification review.
Verb (abbreviation of verb) auto financing company
Auto financing car loans are flexible and can be met in stages according to the needs of specific car owners. The down payment and repayment cycle are also flexible. Some down payment ratio even only needs 15%, and the repayment period can range from 12 months to 60 months.
Advantages: The financial plan for car purchase is flexible and the loan amount is relatively large.
Disadvantages: Compared with credit cards and bank car loans, auto financing companies have higher interest rates and stricter audits. Colleagues will also force you to add various hitchhiking fees when you buy a car, which will not be very cool.
Six, lease loans to buy a car
As car consumption becomes more and more fashionable, more and more partners who have no conditions to buy a car also want to bite their teeth and enjoy car life. Therefore, some microfinance loan companies cooperate with car dealers to launch a car purchase method called lease loan. Choosing a lease loan is simple. Consumers only need to provide ID card, driver's license and repayment bank card to apply for mortgage, and the approval time only takes 1-2 days. This is suitable for some consumers who are eager to use the car, have no money on hand and have no real estate as collateral.
How to borrow a car loan? What kinds of loans are there?
First of all, traditional bank loans
Traditional bank loan is the most traditional way of car loan. The advantage of bank car loan is that the expected annualized interest rate is low, but the disadvantage is that the examination and approval procedures are complicated, the qualifications of lenders are high, and the loan process is complicated.
Second, credit card loans.
Compared with bank loans, credit card loans do not need to mortgage vehicles, that is, there is no "vehicle mortgage" information in the Great Green Paper, so you can buy and sell without loan restrictions.
Three. Automobile manufacturer finance company loan
Generally speaking, the loans of finance companies of automobile manufacturers are loans from finance companies established by automobile brands to users. Compared with traditional bank loans, the expected annualized interest rate is slightly higher, but the approval speed is fast and the qualification requirements for lenders are not high. In addition, auto brand finance companies will do some activities from time to time, and the manufacturers will lend money after discounts. In this case, it is expected that the annualized interest rate will even be lower than that of traditional banks.
Fourth, Internet financial loans.
Internet finance is one of the popular loan methods in recent years. Compared with other channels, their credit process is the simplest and the approval speed is the fastest, but the disadvantage is also obvious, that is, the interest is higher.
Verb (abbreviation of verb) financial lease
Auto financing lease means that the user signs a lease contract with the financing leasing company, and the full amount of the car purchase is borne by the financing leasing company. Therefore, the ownership of the car belongs to the financing leasing company, and the user needs to pay the rent for the car used by the financing leasing company every month, and then transfer the vehicle to the user after the lease expires. The advantages of financial leasing are lower threshold, faster approval speed, no need to pay a large down payment, just bear the monthly rent on a monthly basis.
Six, a variety of repayment methods
After talking about the main channels of loans, let's talk about the mainstream repayment methods, most of which are equal principal and interest, average capital, 5050 scheme and so on.
This is the automobile loan plan and the automobile loan plan Mercedes-Benz launched at the end of the year. I wonder if you found the information you need from it?