1. Loan through auto financing company: the application is simple, and the interest is slightly higher than that of silver.
Auto financing company is a non-bank financial institution approved by China Banking Regulatory Commission to provide financial services for auto buyers and dealers. This kind of financial institution is generally jointly established by major automobile brands. For example, SAIC-SAIC is a joint venture between GMAC- SAIC-GM and SAIC Finance. Many well-known brands, such as Honda, Toyota and Volkswagen, also have their own auto financing companies.
Auto financing companies do not have high requirements for buyers' personal conditions, and the audit is relatively easy to pass, so there is no need for guarantee or mortgage. Property buyers have a stable job and income, and only need to provide water/electricity/gas/telephone bills for a few months when applying.
Buyers of this kind of loan can entrust it directly to 4S stores, but the expected annualized interest rate of the loan is high, and the expected annualized interest rate of the loan is about 9- 1 1%. Even if the activity sometimes claims "0 expected annualized interest rate", its handling fee is high, which is more expensive than that of the bank. In addition, it is worth noting that the loans of auto financing companies are only valid for their auto brands, so it is ok to choose the right model and then choose auto financing companies.
2. Automobile brand cooperative bank loan: Only a few banks provide this service.
Some car brands in the market will directly cooperate with banks, and buyers can borrow money through cooperative banks. This kind of loan is convenient, but it needs mortgage, and the expected annualized interest rate is around 7- 10%. However, only a few banks have carried out this business, such as CITIC Bank and Shenzhen Development Bank. However, they cooperate with fewer brands and models.
3. Credit card loan purchase: Personal credit requirements are high, and the cost depends on the number of loan periods.
There are two main ways to buy a car by credit card. One is cash installment purchase. At this time, you only need to borrow money from the bank according to the expected annualized interest rate of the bank's cash installment. It is enough to open this function in cash installments, but the cash handling fee for application is high, and the amount of ordinary credit cards will not be too much, generally within 50 thousand. Second, you can pay by credit card loan. Buying a car by installment with a credit card loan has already occupied the main activity of the bank. The slogan "0 down payment, 0 interest and 0 handling fee" is not uncommon, but is this really the case?