As more and more people choose to buy cars with zero down payment and interest-free loans, this method reduces the down payment pressure of car buyers. As long as you have a stable income, buying a car with zero down payment and interest-free loan can be a very good choice. Rong360 guide tells you how to apply for a 0 down payment car loan? Do you know these two modes?

In order to meet the needs of many car buyers, zero down payment installment payment does not require a down payment, and you can also enjoy the convenience of the car in advance by paying in installments. I believe many friends are already eager to try it. But what about buying a car in installments with zero down payment?

There is not enough money on hand to buy a car, but there is a great demand for cars. Buying a car in installments with zero down payment is undoubtedly the best way to buy a car at the moment. Because this kind of loan is very easy to apply for to buy a car, the procedure is simple, and the processing speed is naturally faster.

People who want to buy a car only need to have a stable source of income and more than 6 months’ salary from the bank. If they have a good credit record, they can apply directly to the bank for zero down payment using a credit card.

The so-called "zero down payment" does not require car buyers to pay a large down payment at one time, the total expenditure will not be small, and may also be accompanied by high handling fees; "zero interest rate" is generally interest-free only for a period of time, If you exceed the time limit, you will have to pay interest, and there will also be a relatively high handling fee. In this way, do you still think it is cost-effective to buy a car with a zero down payment and zero interest rate loan? There are hidden costs that many friends may not know about.

After an auto finance company adopts the zero down payment and zero interest rate plan to buy a car, it usually needs to entrust a guarantee company, which involves an investigation fee of several hundred yuan, a notary fee of about 200 yuan, and a filing fee of several hundred yuan. In addition, some unscrupulous car dealers may charge additional fees such as management fees of around 2,000-3,000 yuan.

Buying a car with zero down payment may involve these risks.

Increase interest rates

Many car dealers "cooperate" with lending institutions to buy cars with zero down payment. In fact, when the interest rate is implemented, it is possible to increase the interest rate. Although the down payment is gone, the interest rate has increased. For people who buy a car, the repayment pressure after the loan is very high, and the monthly payment may be unbearable for ordinary office workers.

Increase car prices

This is also a common method. The price of a car with zero down payment is likely to be much higher than the full payment, which is quite uneconomical. Therefore, before buying a car with a loan, the car buyer can clearly know the price of the car he wants to buy and go to several 4S stores. This way, he cannot say that he is buying a car with a loan, and the car price will be more authentic.

Increased handling fees

For car dealers, buying a car with a zero down payment loan is very risky. No one wants to do anything risky. If you do it, you will definitely get some reward. Therefore, some car dealers will increase handling fees to prevent and control risks. Zero-down payment loans often charge higher fees than regular car loans.

Zero down payment interest-free loan process to buy a car:

1. Select a loan to purchase a car model.

Mode 1:

Customers apply directly to bank branches for loans to purchase cars. After the guarantee program is implemented, customers can choose a dealer to purchase a car they are satisfied with.

Mode 2:

Select the car you want to buy at a bank's authorized dealer, sign a car purchase contract or agreement with the dealer, and then apply for a loan through the dealer. Carefully choosing a loan car purchase model is the most important step in the loan car purchase process.

2. Application:

After you are optimistic about the vehicle you want to buy, fill out the "Automobile Consumer Loan Application Form" and credit status survey form, together with relevant personal certificates, vehicle price (car fee) and the vehicle information parameters on the voucher (provided by the seller) are submitted to the lending bank together.

3. The bank conducts pre-loan investigation and approval:

After the bank accepts the loan application, it will investigate the credit status of the borrower and guarantor. If the loan conditions are met, the bank will promptly notify the borrower to fill in various relevant forms.

4. Contract signing:

Inform the borrower to sign a loan contract, guarantee contract, mortgage contract, and handle mortgage registration and insurance procedures.

5. Loan grant:

The bank issues the loan, and the loan is directly transferred to the car dealer's account.

Tip: Although buying a car in installments with zero down payment has brought convenience to many friends, for most people, blindly buying a car with zero down payment is not a rational way. Because there is no down payment, the monthly repayments are high and the repayment pressure is high.

It is recommended that you choose the appropriate loan method to buy a car based on your actual situation.

One million car purchase subsidies