1. Loan to buy a car, as long as the car dealer who sells the car provides you with an interest-free loan, you can be interest-free; If you don't provide interest-free loans, you can only pay the corresponding interest according to the bank's automobile consumption loan interest rate. If the automobile consumption loan has a fixed number of years, the general bank only gives a loan period of 2-3 years. If the car is high-end, the loan period will be appropriately extended, but the longest loan period is generally not more than 5 years. Because cars are high-end consumables, they are worthless after a few years of driving, so banks usually make such loans, and the service life is mostly around 2-3 years.
2. Many auto shops will jointly launch interest-free loans with banks to buy cars without interest, and only need to repay the principal of the bank. Buying a car at zero interest rate is just a promotion method, mainly aimed at unsalable models or stock cars. If you have requirements for car models, buying a car at zero interest rate may not be suitable for you. At present, there are two common loan methods in the market, namely "1-3 years interest-free loan method" and "13 months interest-free loan method".
3. Apply for personal car loan from China Merchants Bank, there is no handling fee, and only loan interest is generated. There are two kinds of "personal car loans" that can be handled by China Merchants Bank card: ① Consumer loans are used to buy cars and need to mortgage real estate with full property rights; (2) Personal car loan, you need to apply for mortgage with the purchased vehicle. Note: For both kinds of car loans, you need to buy a brand-new non-operating car in your name (second-hand cars are not accepted for the time being), and generally you need to pay more than 30% down payment yourself (down payment is not allowed).
First, the process of loan to buy a car
1. You need to book a car before you go through the loan process. You should negotiate specific preferential policies with the sales staff of 4S stores, including car price concessions, gifts or decorations, and other expenses. These must be confirmed and a car purchase contract signed first. Because there are some differences between buying a car by loan and buying a car in full, you should ask carefully during the negotiation stage.
2. Submit the loan procedures. At present, there are two loan procedures. -Generally, loans are needed: husband and wife's identity certificate (ID card or temporary id card), driver's license (I or my spouse, student ID card, driving school license and driving school invoice are all acceptable), marriage certificate (marriage certificate, divorce certificate and single certificate) and real estate license (real estate license, house purchase contract/invoice, village committee homestead certificate, etc.). ), etc. The down payment ratio is high and relatively simple. Generally, only one ID card is needed. If you borrow money from a bank, it will generally be the first information requirement, and most car manufacturers' own financial companies will generally adopt the latter simple model.
3. Waiting for approval. After the loan procedures are submitted, the bank, the manufacturer's finance or the third-party finance will generally examine and approve the qualifications of the loan applicant. Approval is generally divided into online approval and offline approval. If online approval is carried out, the loan applicant will be called to inquire about matters such as car purchase and personal work, and then decide whether to pass; However, qualified applicants (such as civil servants, employees of public institutions, people with good personal credit records, etc.). ) will pass directly and automatically without contacting the customer. Offline approval is generally a home visit, and the staff of the financial company actually go to the home or work of the loan applicant but actually visit to check the specific situation. This kind of offline home visit will only be taken if the loan applicant's qualification is not very good.
4. Pay the down payment. After the loan is approved, it is necessary to pay the down payment to the 4S shop first, then the 4S shop will issue a down payment receipt, and finally give the down payment receipt to the bank or financial company to wait for the loan.
5. borrow money to pick up the car. After paying the down payment, the bank or financial company will lend the money to the 4S shop or the loan applicant himself, so that the car can be insured normally and the car can be picked up on the invoice.
Is it true that there is no interest on car loans? brief introduction
Many people want a scooter to travel easily, but they can't save money at ordinary times. If they can't buy a car in full, they can only borrow money to buy it. The interest on the loan to buy a car has always attracted much attention. Some people will ask if it is true that the loan to buy a car is free of interest. Let's see what is going on.
Is it true that there is no interest on car loans?
It is true that there is no interest on a car loan. Many car dealers will take interest-free promotion for some vehicles in order to withdraw funds quickly. However, if they choose these vehicles, they are generally unable to enjoy other benefits, and they may need to agree to some additional conditions, such as buying all insurance in the 4S store and paying the license fee of the 4S store.
In addition, you may need to collect a deposit, pay a handling fee to the 4S shop, and even bundle some auto parts. In fact, the total cost of buying a car is not less than the car loan with interest. It is recommended to choose carefully. Don't think that buying a car loan without interest can really save money.
How to get a car loan?
The most cost-effective way to buy a car is to buy it in full. It is really impossible to buy a car in full. Buying a car by loan depends not only on whether it is interest-free, but also on many aspects.
Try to pay a higher down payment if possible, and the loan amount is small, even if the interest is not too much; There is also the choice of the appropriate loan period. Although most car loans can last up to three years, which is not very stressful for a long time, the risk is too great to save money. Of course, the loan can be paid off in advance if the loan is successfully handled and the funds are sufficient.
Is it true that car loans don't need interest? I hope it helps you.
Is there no interest on the car loan?
Interest bearing.
Loans to buy a car generally have interest. However, some 4s stores will launch a 0-interest loan to buy a car. Although they will not charge interest, they will charge a higher service fee. The handling fee is similar to the loan interest, but it is actually disguised interest.
If it is a bank car loan, the loan interest rate generally fluctuates on the benchmark interest rate of the central bank loan. If it is a car loan from other financial companies, the loan interest rate is generally set according to market conditions, and there is no standard.
Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers. Loan to buy a car refers to the loan issued by the lender to the borrower who applies for buying a car.
In fact, it is to borrow money from financial institutions to buy a car. However, financial institutions require car buyers to pay a certain percentage of down payment and provide proof of repayment ability. They have no bad credit record and must meet the requirements of financial institutions before they can apply for a loan to buy a car.
To apply for a car loan, you must buy a limited range of cars at a special dealer recognized by the bank and apply for a car loan.
Applicants must meet the following conditions at the same time:
(1) The car buyer must be at least 18 years old and a citizen of China with full civil capacity.
(2) Car buyers must have a relatively stable job, a relatively stable economic income or assets that can be easily realized, in order to repay the loan principal and interest on schedule. Assets that are easy to realize here generally refer to securities and gold and silver products.
(3) During the loan application period, the car buyer will deposit the car purchase down payment lower than that stipulated by the bank into the account of the bank savings counter.
(4) Providing banks with bank-approved guarantees. If the personal account of the car buyer is not local, it should also provide joint liability guarantee, and the bank will not accept the mortgage set by the car buyer for the car purchased by the loan.
(5) Car buyers are willing to accept other conditions deemed necessary by the bank.
If the applicant is an enterprise or institution with legal personality, it shall meet the following conditions:
(1) has the ability to repay bank loans;
(2) During the loan application period, there is no less than the down payment for car purchase stipulated by the bank and deposited in the accounting department of the bank;
(3) Providing recognized guarantees to banks;
(4) Willing to accept other necessary conditions proposed by the bank. The special dealer referred to in the loan refers to the automobile dealer who is selected by the branches at all levels of the bank according to the financial strength, market share, credibility and other factors of the dealer, and then reported to the head office, and signed an automobile consumption loan cooperation agreement with each branch after confirmation by the head office.
Do you need interest on car loans?
The loan for buying a car needs interest. At present, there are three ways to explain car loan: 1. Interest on credit card installment purchase: In addition to the advantages of relatively simple approval and procedures, credit card purchase does not need to provide corresponding property guarantee, which eliminates the cumbersome procedures such as intermediary notarization and brings additional burden to consumers. 2. Bank loan interest: ordinary bank car loans have no advantage. The two-year car loan interest rate of a bank has risen to 7.8%, and the three-year loan interest rate has risen by about 30% on the basis of 6.65%. Usually, the 3-year car loan interest rate has risen to 1 1.28%. (3) Loan interest of auto financing company: A recent survey shows that the interest rate of auto financing company's three-year loan is 10.99% and the interest rate of five-year car loan is11.38%; It is higher than the current bank loan interest rate 1-3 years (including 3 years) of 6.65%.
Is there no interest on the loan to buy a car?
Interest bearing.
Loans to buy a car generally have interest. However, some 4s stores will launch a 0-interest loan to buy a car. Although they will not charge interest, they will charge a higher service fee. The handling fee is similar to the loan interest, but it is actually disguised interest.
If it is a bank car loan, the loan interest rate generally fluctuates on the benchmark interest rate of the central bank loan. If it is a car loan from other financial companies, the loan interest rate is generally set according to market conditions, and there is no standard.
The benchmark interest rate for central bank loans is:
1, and the loan interest rate within one year is 4.35%:
2. The loan interest rate for one to five years is 4.75%;
3. The interest rate for loans over five years is 4.90%.
1. Now interest-free or zero down payment activities are generally launched to buy a car. Now, let me tell you some precautions to prevent being pitted. Now the so-called low down payment or zero down payment is mostly a pit. Maybe when you buy this car, you will find that it is settled in the name of the company, but the car and yourself are leased and must be paid off within the specified time. If it is illegal, the car will be recycled, and the money spent before will not be recovered.
2. There are still many merchants who attract friends who want to buy a car through zero down payment, but they can't resist the temptation. After buying it, they know that the merchants will tie in high insurance, force you to take full insurance on the pretext of buying a car with zero down payment, or let you buy some specific products of the insurance company. At this time, the insurance you buy will be more expensive than other people's insurance, and it will also make you buy some insurance that is not practical at all.
3. It should also be noted that you must confirm the time and amount of your repayment. When you buy a car with a loan, you must clearly list the procedures and expenses you need. Compare more and choose the channel that suits you. Don't just look at the so-called 0 down payment, low interest, or 0 down payment, 0 interest. These are routines. Everyone must read the contract clearly.