At present, the bad debt rate of bank auto loans is only about 2.9%, which is one of the loan varieties with low bad debt rate among all kinds of bank loans. Therefore, "zero interest rate" car purchase is "a win-win situation for consumers, car dealers and banks".
Three pitfalls of zero interest rate auto loan;
The first is "the principle of charging if it is high or not". The fee paid by the car owner when enjoying the "zero interest rate" loan shall be stipulated by the car dealer. Some charges are as high as several thousand yuan or even ten thousand yuan, while others are calculated in proportion to the loan amount of the owner. Generally speaking, the higher of these two numbers is the "final standard".
Second, in reality, many car buyers took part in the "interest-free" activities, only to find that the models they bought can only be paid according to the manufacturer's guidance price, and they can no longer enjoy the preferential price of new cars. Even the interest-free amount of some models may be lower than the preferential amount of the car price.
Third, if consumers borrow money to buy a car, they must apply for commercial insurance in 4S stores. Although the commercial insurance for packaging and sales in 4S stores is about 25% lower than that in the general market, it still touches consumers' fair trade rights.
Bank staff reminded that consumers should reasonably judge their repayment ability, rationally handle loans to buy cars, and be alert to personal credit damage caused by "excessive consumption".
Million car purchase subsidy