Through several mainstream auto loans, we can compare the high interest rate of auto financing loans. At present, there are mainly the following ways of auto loan: 1. Loans are made through auto financing companies of auto brands, such as Toyota Auto Finance, Volkswagen Auto Finance and Dongfeng Nissan Auto Finance. The annual interest rate of this loan is about 9- 1 1%. The advantage is that the procedures are relatively simple, 4S stores can generally operate directly, and the entry threshold is relatively low. 2. Make loans through banks that cooperate with auto sales companies. For example, BMW and Shenzhen Development Bank, Audi and China CITIC Bank currently operate more. However, this method is limited and cannot cover most models. Moreover, the loan interest rate is relatively high, generally 7- 10%. 3. Lend money to the bank through the guarantee company. This kind of loan has no requirement for the amount of auto loan, but it has certain requirements for the conditions of the loan customers themselves, and the procedures for loan handling are relatively complicated. This loan method is generally implemented according to the bank's interest rate, which is roughly between 5% and 6%, plus a one-time procedure fee of 65438+ 0-3% of the loan amount. If the loan amount is large, then the loan method is more cost-effective 4. Buy a car by installment with a bank credit card. At present, many banks offer credit cards to buy cars by stages, and more and more banks attach importance to this business. Literally, this loan method is the most convenient and economical, but in practice, many customers are often inflated by the car price, and the actual expenditure is more expensive than other ways to borrow money to buy a car. Another disadvantage is that at present, credit card installment purchase cannot cover all models, and most of the models that support credit card installment purchase are unsalable models.