What is the two-year interest-free routine for car loans?
The interest-free loans of most financial institutions are not really interest-free. Since the two-year interest is borne by the 4S shop and the manufacturer, in order to make profits, the 4S shop will naturally find profits from other places. For example, if you charge a lot, even if the owner thinks that the loan still needs to pay so much, you have to pay it back after two years of interest-free.
In addition to unwritten regulations in the industry, there are also requirements for car owners to buy insurance, and they must buy insurance in 4S stores. Besides the necessary insurance, there are other suppliers.
In addition, when choosing an interest-free loan, for many models, a two-year interest-free loan may require a down payment of 40% or 50% instead of a simple down payment of 30%. The rest of the money needs to be paid off within two years. In fact, the rest of the loan does not mean that the bank does not charge the interest of the owner, but it has become borne by the manufacturer and 4S shop.
Generally speaking, a two-year interest-free loan is not really interest-free in nature. Moreover, interest-free loans need to pay fees and other fees, which may be more than the interest on car loans.
The above is "What is the two-year interest-free routine for car loans?" I hope it will help everyone!