For friends who don't have their own cars, do you also have the impulse to buy a car when you see that others can drive their own cars to work every day and go for a ride in the suburbs on weekends? However, although the current cars are not expensive, they cost at least tens of thousands, and the slightly better ones cost hundreds of thousands. If you don't have that much money at present, but you really want a car, the only way is to choose a loan. But there are many ways to buy a car by loan. Which channel should I choose?
1, bank loan
Bank loan is a common loan channel. Compared with other loan methods, the biggest advantage of bank loans is the low interest rate. At the same time, the amount of bank loans is relatively large. Generally, the maximum loan is 300,000-500,000, but the minimum down payment cannot be less than 20%. Although there is the advantage of low loan interest rate, the disadvantage of bank loan is also obvious. One is that it is difficult to get loans. Once the loan is not approved, the car purchase plan will be ruined, and the other is that the loan time is longer. Therefore, if you choose to borrow money from the bank to buy a car, it is best that the bank has relatively good qualifications and is not in a hurry to use the car.
2. credit card installment payment
If you are worried that the bank loan application will not come down, buying a car with a credit card is also an option. Buying a car by installment with a credit card means paying by credit card first and then paying it back in installments. Its advantage is that it is convenient and fast, and there is no need to mortgage the car. The disadvantage is that the handling fee or interest rate is higher. If you choose the installment repayment with the longest term, the handling fee or interest rate will be as high as 10%. In addition, the loan amount is also limited by the credit card amount. If you don't want too much trouble and want to get the car early, and the credit card limit is enough, you can consider buying a car with a credit card.
3. Auto financing company loans
An auto financing company is a company that provides loan services for car buyers, and is generally funded by a certain brand of car manufacturers. Compared with other channels, the advantages and disadvantages of buying a car through auto financing company loans are not obvious. Specifically, its loan interest rate is higher than the bank loan interest rate and lower than the credit card installment fee. In terms of application difficulty and loan speed, it is also between the two. However, there is a disadvantage in buying a car through an auto financing company loan, that is, you can only buy a car with a fixed brand, and you can't buy a car through this channel without an auto financing company brand.
4. Online loans
Judging from the above-mentioned loan channels, if the loan interest rates are arranged from low to high, they are bank loans, auto finance company loans, credit card installments and online loans. Judging from the difficulty of loans, they are online loans, credit card installment, auto finance company loans and bank loans. From the perspective of lending speed, they are online loan, credit card installment, auto finance company loan and bank loan. It can be said that almost every loan channel has its own advantages and disadvantages. As for which one to choose, you may wish to match it according to your actual situation.
Which banks have lower interest rates on car loans?
Which bank has a lower loan interest rate:
In fact, there is no need to worry about the safety of bank loans, because they are all approved by the China Banking Regulatory Commission. Borrowers mainly look at bank loan interest. Different types of bank loan products and different qualifications of borrowers give different interest rates. If the borrower has no assets, you can consider the following low-interest bank credit loans.
1, e-loan for industrial and commercial finance
China Industrial and Commercial Bank, one of the four state-owned banks, has launched this kind of electronic loan with very low interest rate. Many people can borrow it for two years, and the annualized rate is less than 5%. Eligible borrowers can apply by themselves through mobile banking and other channels, with a maximum amount of 200,000.
2. China Merchants Bank lightning loan
China Merchants Bank launched a large unsecured credit loan with low interest rate, with a maximum amount of 300,000 yuan and a minimum daily interest rate of 0.0 18%. Borrowers who hold a one-card savings card of China Merchants Bank, are over 23-60 years old, have stable repayment ability and good credit can apply.
I recommend you to use the money flower, which is a credit service brand under Du Xiaoman Finance (formerly Baidu money flower, renamed as "money flower" in June 2065438+08). Big brands are reliable and trustworthy with low interest rates. Money to spend-full easy loan, with a maximum loan amount of 200,000 (
Xiaoman-Rich Flowers (the second batch) Click online measurement.
), the daily interest rate is as low as 0.02%, which has the characteristics of simple application, low interest rate, fast loan, flexible loan repayment, transparent interest rate and strong security.
Share with you the application conditions for rich flowers: the application conditions for rich flowers are mainly divided into two parts: age requirements and information requirements. 1. Age requirement: 18-55 years old. Special note: if you have money to spend, you refuse to provide college students with consumer installment loans. If you are a college student, please give up the application. Information requirements: You need to provide your second-generation ID card and your debit card during the application process. Note: the application only supports debit cards, and the application card is also your loan bank card. My identity information needs to be the second-generation ID card information, and cannot be processed with temporary id card, expired ID cards or first-generation ID cards.
What is the most cost-effective loan to buy a car?
It is more economical for customers who borrow money to buy a car to choose credit card installment payment than bank car loans and auto financing companies. Credit card installment payment is free of guarantee and interest, and only charges a handling fee. At the same time, when buying a new car by installment, there is no mandatory requirement for buying insurance and renewing insurance. Generally, you only need to buy major insurance and burglary.
1, automobile consumption has also entered the ranks of advanced consumption, and loan to buy a car has become a way for many young people to buy a car. For auto companies, auto finance can not only boost sales, but also benefit auto finance companies. More and more auto shops are willing to provide loans for consumers to buy cars. It is understood that the auto loan policy is: the minimum down payment for a car loan is 20%, and the loan period is 1-5 years.
2. The down payment for a loan to buy a car starts from 20% of the sales price of the vehicle, and the down payment will be different for different vehicles and different years. Ordinary customers can apply for installment payment according to a three-year fixed loan. All scientific and technical personnel, civil servants, teachers, doctors, legal representatives of enterprises, managers of large enterprises and staff of financial system can apply for loans with a term of 1-5 years, depending on their selected models.
3. Most sellers have launched a one-stop service for credit consumption according to the different needs of consumers, which makes the cumbersome loan car purchase procedures simple and fast. From car selection, charging, handling bank card, insurance, bank signature to handling parking space certificate, mobile license plate, car inspection and license plate registration, all professional salesmen need to submit the required information.
4. If you want to repay the car with a loan term of more than one year in advance, you generally need to make an appointment with the original lending institution about half a month in advance. Different lending institutions have different requirements.
At the same time, before prepayment, you need to prepare all relevant materials, including personal identity card, loan contract, prepayment agreement, previous repayment bill, repayment application form, etc. After the appointment is successful and the formalities are fully prepared, the repayment can be made at the appointed place according to the appointed time.
Extended data
Conditions for loan to buy a car:
1, with valid identification and full capacity for civil conduct.
2. Can provide fixed and detailed proof of 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.
Car loan application materials: original ID card, household registration book or other valid residence certificate, and provide its copy; Proof of occupation and economic income; The car purchase agreement, contract or letter of intent signed with the dealer; Other information required by banks or lending institutions.
Which bank has the lowest car loan interest rate?
Car loan interest is related to many factors and can be selected according to the following. If the car loan time is less than 1 year, China Bank is the first choice, followed by China Construction Bank and Ping An Bank; Generally speaking, Ping An Bank has the lowest car loan interest rate, which can be given priority.
Among several banks, the highest car loan interest rate is China Construction Bank; China Bank's car loan conditions are strict, so it is not necessarily the first choice.
The car loan interest rates of different banks are different, and generally fluctuate according to the benchmark interest rate of central bank loans. The benchmark interest rate is as follows: the loan interest rate is 4.35% within one year, 4.75% within one to five years, and 4.90% for more than five years.
Calculation formula: car loan interest = loan amount, annual interest rate term, and banks also need to combine personal credit, bank/store preferential activities, down payment ratio, etc. Therefore, it is necessary to determine which bank car loan is the most cost-effective according to the actual situation of the owner.
For example, what is the 3-year interest on a car loan of 654.38+ 10,000 yuan? Mr. Li applied for a car loan of 654.38 million yuan in a bank and chose to pay it off in three years. The approved loan interest rate is 4.75%. According to the above formula for calculating the car loan interest rate, it can be concluded that the final car loan interest rate is100000x4.75% x3 =1422.
The process of bank loan to buy a car is as follows.
1. After the car buyer selects the vehicle to be purchased, he prepares relevant materials and applies for a car loan from the loan bank; 2. The loan bank conducts examination and investigation according to the submitted application materials; 3. After approval, the borrower signs a loan contract with the loan bank; 4. The borrower shall go to the local vehicle management office for mortgage registration; 5. The loan bank issues the loan, and the borrower takes the relevant certificate to the dealer to pick up the car.
Which is the most cost-effective car loan?
Nowadays, the traffic in the city is more and more convenient, and many people will choose to buy a car as their own means of transportation. It is also very convenient to buy a car now. There are various types and brands of cars, and you can also choose a loan to buy a car. As long as we pay the down payment, there is not much pressure on the monthly payment. It is not difficult to buy a slightly more expensive car that we like.
Now there are several forms of loan to buy a car, such as credit card loan, bank loan and auto financing company loan. But at this time, someone will ask, which car loan is the most cost-effective? Let's take a look together.
I. Credit card loans
I believe many people will have a credit card now. The advantages of buying a car with a credit card loan are fast, simple and low threshold. When we apply for a credit card, the procedures are relatively simple and the threshold for examination is not particularly high. Many credit card products have an interest-free period, so car buyers will repay their monthly bills in full and on time, so there is no need to pay interest.
However, it should be reminded at this time that the interest-free period and the handling fee are two different charges. When handling the installment, although the bank does not charge interest, it will charge a certain fee. The handling fee varies according to the number of bills, and the expected annualized interest rate and collection method of each bank are also different.
I would also like to remind car buyers that many banks have bought their own car credit cards and car joint credit cards, and they can enjoy greater discounts and discounts when handling car loans with these credit cards.
Second, bank loans.
The minimum down payment of bank loans can be reduced to 20%, so it is called the choice of prospective car owners who buy cars with loans. In addition, the amount of loans that banks can apply for is large, the expected annualized interest rate is low and the repayment period is long. The most important point is that banks can handle car loans without the restrictions of car models and car dealers, which greatly increases the choice of car buyers. There are many benefits, but it is not so easy to approve. Not to mention a lot of materials to prepare, the most terrible thing is that it took most of the time to go through the process and still could not apply for a loan.
Three. Auto finance company loan
Not all auto brands have their own auto financing companies. There are no more than fifteen auto financing companies in China. For example, Dongfeng Nissan. The biggest advantage of auto financing companies is that they don't need to provide any guarantee from car buyers, as long as they have a fixed occupation and residence, stable income and repayment ability, and good personal credit. The loan amount is basically the same as that of the bank, and the procedures are relatively simple and the approval speed is fast. At the same time, individual auto financing companies are now flexible in repayment, and can choose the loan method that suits them according to their own financial situation.
What is the most cost-effective way to buy a car with a loan?
The suggestions are as follows:
1, credit card purchase by installment
If the borrower chooses to buy a car by credit card, the more cost-effective way is to buy a specific model. Many car companies will choose to cooperate with banks when selling their cars. Users with bank XX credit cards will get certain discounts and discounts when purchasing specific models. Eligible borrowers can leave a large sum of money when buying a specific model.
2, 4S shop car purchase
When buying a car in a 4S store, it is usually necessary to apply for a loan from an auto financing institution designated by the 4S store, so it is less likely to save money on loan products.
However, the borrower can save money from other places where the 4S shop buys a car, such as refusing to buy any maintenance products of the 4S shop and not buying auto insurance and GPS in the 4S shop.
3. Bank loans
There are two ways to apply for a car loan from a bank, one is unsecured car loan, and the other is car mortgage. Borrowers are advised to choose auto mortgage, because mortgage interest rates is lower and the loan amount is higher.
However, the disadvantages of mortgage loan are long approval time and slow lending speed, which is more suitable for car buyers who are not in a hurry.
Generally speaking, borrowers choose to buy cars in different ways and save money in different ways. If conditions permit, it is the most cost-effective choice to apply for a car loan in a bank, and the interest rate of a bank's car loan is always lower than that of other financial institutions.
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 issue 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 given by the bank to consumers, that is, borrowers, for purchasing their own cars (non-profit family cars or commercial vehicles with less than 7 seats). The higher the interest rate, the greater the repayment amount of consumers.
Type of automobile loan
Personal loan car purchase business is divided into direct customers, indirect customers and credit card car loans. The direct customer type is generally a bank car loan for customers to meet directly, and the indirect customer type is generally a car loan from an auto finance company to a customer car loan.
The fees charged by banks for direct car loans include deposit, principal and interest, and 3% guarantee fee. And the bank's premium customer fees will be discounted, but the preferential policies of each bank are different.
In addition to the above fees, personal auto financing companies also need to bear supervision fees, fleet management fees and warranty renewal deposits.
And credit cards, car loans. Credit card installment car loan only provides installment payment for bank credit card users, not all conditions can be handled, and there is an audit procedure, which is difficult for credit card users with bad credit records.
The specific steps of buying a car by credit card in installments are roughly as follows:
1. The cardholder (or applicant) calls the bank's credit card center or goes to the local bank to find out whether he can apply for a credit card car loan.
2. The cardholder holds his ID card to the dealer's site to fill in the installment order for car purchase and submit it to the bank for review.
3. After the order is approved, the cardholder pays the down payment and goes through the normal car purchase procedures.
4. After the vehicle is licensed, the cardholder needs to go to the bank to go through the mortgage formalities and purchase the required auto insurance.
5. I can finally drive away smoothly.
loan limit
The maximum loan amount generally does not exceed 80% of the price of the purchased car.
Letter of credit clause
1, with valid identification and full capacity for civil conduct;
2. Can provide a fixed and detailed address certificate;
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.
Detectives buy cars, pick up cars quickly and get licenses quickly: provide one-stop car purchase service.
When the wind blows, my blessing turns into rain to moisten you; When the peach blossoms are in full bloom, my wishes break into pieces and the petals fly to you; When everything recovers, I wish you happiness every day and your heart is full of spring!
So much for the introduction of the minimum loan interest for buying a car.