Nowadays, many people will buy a car before buying a house. On the one hand, cars are not as expensive as houses; On the other hand, cars can be used as a means of transportation. Therefore, many riders who like cars will buy a car or directly replace the good car. Although it doesn't preserve the value, cars can improve the quality of life and sometimes become a tool to make money. So cars are becoming more and more cost-effective, and more and more people buy cars. So, which way to buy a car by loan is expected to have a lower annualized interest rate?

What are the ways to buy a car with a loan?

First, relatives and friends borrow money.

I believe that when many people borrow money, they first think of relatives and friends, and it is relatively easy to borrow money from relatives and friends for a long time, which is also the best way to get money immediately. Borrowing money from relatives and friends to buy a car is a simple and reliable loan method in the market. However, this is based on your's family ties, and there must be no dispute because we can't afford to pay back the money.

Advantages: borrowing money is fast, convenient and easy.

Disadvantages: the amount is small and it is easy to cause disputes.

Second, bank loans.

Now, many 4S shops and car dealers will cooperate with banks to provide car loans. Car buyers can apply for loans from banks to buy cars, and many banks have set up special car loans.

Advantages: the expected annualized interest rate is low and the loan amount is relatively large. The loan term is generally 3 years.

Disadvantages: The procedures are cumbersome and need a lot of certificates. Some banks need real estate, household registration and even mortgage, and the approval is strict and the loan time is long.

Third, credit card loans.

Credit card loan is a common way to buy a car. Car buyers need a credit card, a regular job and a stable income.

Advantages: simple operation procedures, need for credit reporting, short examination and approval time, flexible application method, and no need for property pledge, guarantee company and notarization intervention.

Disadvantages: the bank credit card center will charge a certain fee, and the cooperative manufacturers are limited.

Four. Auto finance company

Auto financing car loans are flexible and can be met in stages according to the needs of specific car owners.

Advantages: The financial plan for car purchase is flexible and the loan amount is relatively large.

Disadvantages: auto financing companies have higher interest rates and stricter audits.

Verb (abbreviation of verb) lease loan

It's easy to rent a car by loan. Consumers only need to provide ID card, driver's license and repayment bank card to apply for mortgage.

Advantages: the entry threshold is low, as long as you dare to buy, people dare to rent. To put it bluntly, there are great risks on both sides.

Disadvantages: the interest rate is very high, and the bank credit card loan interest rate is 4.5%-6%. General lease loan interest can reach 8- 12%.