First, interest-free loans to buy a car, as the name implies, is to set the loan interest to zero, only need to repay the bank's principal. However, interest is the profit point of these lending financial institutions. One is people with stable jobs and high incomes who want to buy a car but can't get the full amount. These people are mainly young buyers under the age of 30. Because of their short working hours and limited savings, interest-free loans are very popular among these people. The other category is some consumers who are good at financial management.
Second, there are two common loan methods in the market. One is the "1-3-year interest-free loan law", which is also the most common mortgage method in the market at present. Consumers only need to pay the principal, and all the interest generated during the period shall be borne by the dealer. However, only within the interest-free period stipulated by the manufacturer, the repayment is zero interest, and the expenses generated by interest will be paid normally in the remaining months.
Third, the advantage of buying a car in full is that you can pay it in one lump sum without worries, but you need to pay a large sum of cash in one lump sum; In addition to the car price, the loan to buy a car also needs to pay the handling fee and interest. The advantage is that the owner can use part of the money to drive home first.
Four, the full purchase of a car must pay: purchase tax, listing fee, compulsory insurance, travel tax, insurance is voluntary; Buying a car with a loan will be fully insured, and the requirements of banks are the same all over the country. Because the property right of the car is not yours during the loan period, it is mortgaged with your car, and the mortgage will be released when the loan is paid off.
Fifth, the loan to buy a car means that your real estate license, car purchase invoice and all-insurance policy should be placed in the bank during the loan period, and then the mortgage will be released after the loan is paid off; You don't need a full mortgage. Not that much.
In addition, auto financing company is another installment payment method to fill the vacancy of auto loan. Auto financing companies are different from loan companies and banks. The lender's application for approval is put forward by the auto financing company. In addition to the down payment, the lender pays the monthly payment and interest, and there are no other expenses. But the situation of auto financing companies is different, and the interest rate is different from that of banks. For example, the three-year interest rate of public finance is 6.88%. Compared with the bank's preferential loan interest rate, it is much more expensive.