There are many ways to apply for auto loans, including bank auto loans, credit card installment loans and auto financing loans. All three ways of buying a car require a down payment of 30%, and the loan period generally ranges from 3 to 5 years. Generally speaking, it is the most difficult for banks to apply for car loans. The process is complicated, the procedures are numerous, and there are strict regulations on credit records and income. However, in fact, in addition to banks, other ways of car loan can also be considered. Next, let's take a look.

Car loan application difficulty: four stars

The procedures and procedures for applying for bank car loans are quite strict. The down payment is generally around 30%, and the loan period can be as long as five years, so the corresponding monthly supply pressure is relatively small. If a lender with a real estate can choose a real estate mortgage consumer loan, this loan method is relatively easy to issue loans, and there are almost no restrictions on the models available. This method is suitable for lenders with good credit records and stable income.

Credit card installment application difficulty: three stars

The approval threshold of credit card installment car purchase is lower than that of banks, and the approval process is relatively loose. However, the credit card installment down payment ratio is relatively high, and the loan amount will be limited. Moreover, the longest loan time is generally only 2 years, so the pressure of down payment and monthly payment as a repayment person is relatively large. Credit card installment payment is usually jointly launched with manufacturers, so the models targeted have certain limitations. This method is more suitable for people who are already credit card customers and have certain funds.

It is difficult for auto financing companies to apply for car loans: two stars.

Buying a car through an auto financing company loan is not only convenient and fast, but also has a low application threshold. As long as consumers have a certain repayment ability and pay the down payment, they can apply for a loan. However, consumers also need to pay attention to the fact that the loan cost for auto financing companies to buy cars is usually relatively high. Generally, in addition to the loan interest fee, there are a series of fees such as handling fees.

How difficult is it for microfinance companies to apply for car loans? Two stars.

Applying for a car loan through a small loan company has a low threshold and unlimited car selection, and the rate is higher than that of a bank. The loan method and repayment method are flexible, and the approval is faster than that of banks. Therefore, before we borrow money to buy a car, we will choose the loan method that suits us according to our own economic conditions and comprehensive measurement.

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