Loan knowledgeCar is essential for our daily life, cars for the convenience of our lives was enormous, but for many consumers to buy new cars for the first time, may be on the selection of vehicles, licensing and insurance there are many questions, feel at a loss, so we'll have to buy a car on to cards, from personal experience to provide a complete Handbook for the car. This article is the first article in this series instruction manual, first to help you sort out our loan, where is the analysis of advantages and disadvantages of each.
for many cash-flow is not too convenient or time cannot come up with enough cash for consumers, auto loans offers a product in advance of purchase. Regular car loan is mainly Bank car loans, credit cards, car loans, auto finance car loan in three ways. Three ways have their advantages and disadvantages, how to choose, consumers according to their own situation and Beijing's mortgage policies to choose from.
1. Bank car loans
Bank car loan business is no longer the preferred for the general public, although it has a large loan amount, loan length, and demands free car brand advantage, but the procedures are more troublesome, fixed assets or cash to lenders usually have higher requirements.
purchase of luxury brands for consumer groups in this way, they have a more powerful economic backing (including property, securities companies, financial investment, price, and so on), and secondly, their interest is not too sensitive (as opposed to borrowing rates, the loan amount can produce greater gains in the buyers hands), Third, banks lend directly to avoid the auto finance company or security companies need to generate more fees.
2. credit car loan
ahead of the popularity of credit cards for spending a lot of conveniences. Credit cards auto loans the most significant advantage is that interest rates on bank loans. Looking at the Tongzhou lending rates alone, larger advantage credit card instalments. Even some banks are not regular activities of and cooperation in auto maker introduced a fee-free, which reduces the burden on consumer purchases.
and credit card purchases do not normally need to provide real guarantee, as long as people buy cars have proper occupation and enough of a fixed income (if a fixed residence and married, then credit card apply for a car loan will be more smooth).
credit cards do not charge interest, but requires a one-time break into the total mortgage fees to banks, usually available in 12, 24, 36 months of repayment options. Fees scale, better to select 12-or 24-month, 12 month fee usually in 3%-3.5%, 24-month fee is around 7%-7.5%. 36 month higher fees, usually a 10%-12%. While the banner of interest-free, but in fact, fees for three years with a three-year rate was no different.
credit cards means flexibility, able to car dealers to fill in a form referred to audit (users who have larger overdraft may be exempted from the process), the procedures are more straightforward, without guarantee or collateral. But credit card car loan is not necessarily for everyone, because many credit trucks credits specified brand model, which limits consumer choice.
also guarantees loans for vehicle ownership needs to be mortgaged to the Bank, you must purchase the full car insurance car loan instalments and credit card items, such as CDW, theft and rescue (or GPS fee-for-service) and so on. From the normal channels, car dealer does not exist a lift charge, but credit card car loan until you need to get a license plate car, so many dealers took the opportunity to charge consumers on the licensing fee.
3. Auto Finance car loan
with the popularity of automobile consumption, many brands have set up their own auto finance company. People familiar with GM, Ford, Volkswagen, Toyota, Honda, Nissan and Chery brand all have their own auto finance companies, can provide services for consumer purchase.
Auto Finance car loans Beijing, loan buyers need not provide any warranty, as long as there is a fixed occupation and residence, a steady income and repayment ability of individuals with good credit, car loans and credit card staging is close. In addition, auto finance car loans do not have local account limits, only needs to provide the recent few months gas/water/electricity/phone payment documents.