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.
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.
Bank car loans, under the pressure of tightening credit scale, consumer loans such as car loans have been greatly reduced, and the loan doors of some middle and low-end cars have been temporarily closed. The biggest advantage is a wide range of choices. Car buyers can go directly to the bank to apply for personal car consumption loans after they take a fancy to the models. However, the procedure of lender qualification examination is very complicated. It is generally necessary to provide real estate (such as real estate) as collateral. Some banks are open to high-end customers or high-end models, and the car itself can be used as a mortgage. However, compared with other car loan methods, the time period for approval is very long.
In terms of loan interest rate, the auto mortgage interest rate generally rises by about 10% on the basis of the benchmark bank loan interest rate in the same period. Most car loan businesses need guarantee companies to guarantee or buy car guarantee insurance, and car buyers also need to bear 2.5% to 3% guarantee fees. When all procedures are added up, the comprehensive cost of bank car loan is the highest among the three ways.