1. Bank loan. Advantages: There are no restrictions on the types of car loans from banks, and the repayment time can be flexibly selected between 2-5 years in theory, which is especially suitable for high-quality or high-end customers. Disadvantages: From the perspective of credit development, automobile consumption loans first started from banks. However, at present, banks are facing the pressure of tightening credit scale, and consumer loans such as car loans have shrunk sharply, and the loan doors of some middle and low-end cars have been temporarily closed. Therefore, this is also a difficult way to operate in several major car loan channels. In addition, the approval is troublesome, the loan period is long, and most of them need real estate pledge, so it is difficult for individual users to handle car loan business. Second, financial loans. Advantages: The convenience of auto financing company loans is not only reflected in the direct application through 4S stores, but also in the fact that it does not need too many hard conditions such as hukou and real estate, which is one of the most obvious advantages of auto financing companies compared with bank car loans and other channels. This auto financing auto loan method is usually flexible and can be used in stages to meet the needs of customers. Generally, it is not easy to apply for a car loan with a three-year repayment by credit card, but it is relatively easy for an auto financing company to apply for a longer repayment period, usually around three years, which relieves the pressure on car owners to some extent. Disadvantages: The loans of auto financing companies basically only provide the business of designated models of this brand and related brands. Compared with buying a car by installment with a credit card, its loan period is longer. More than that, its car loan interest is higher than that of bank loans in the same period, and the approval is stricter. At the same time, there are a lot of hitchhiking fees, and it has not yet entered a benign model based on promotion. Generally, people who fail to approve bank loans can consider this way. There is also a commonly used loan method: credit card loan. Advantages: The most obvious advantages of credit card car loan are fast approval and relatively simple procedures. If consumers use a credit card loan to buy a car, they only need to use a credit card with a good credit record within the validity period, provide their ID card and apply to the card bank for car purchase by installments. Even if you don't have a credit card, you can go through the formalities of buying a car with a credit card at the car dealer, which usually takes 3-7 working days. Disadvantages: it is necessary to specify the cooperative brand and model, which has certain restrictions on the applicant; The longest installment is 36 (3 years), and the actual operation is controlled at 12-24, paying more attention to the credit of cardholders or applicants. If the credit information is not so good, don't choose this method.

Second, what is the difference between auto financing company loans and ordinary bank loans, and which one to choose? ...

The two are different in nature. Guarantee companies only play the role of guarantee, or let banks lend; Auto financing companies will directly approve and lend money directly if they pass. Compared with the two, it is definitely convenient for auto finance companies. Generally, some big auto brands can have their own finance companies, such as General Motors Finance, which will be more formal and trustworthy if it is directly supervised by the banking regulatory bureau. The guarantee company is uncertain and its reliability is poor.

Three. Advantages and disadvantages of auto financing and bank loans, details

Vehicle loans issued by banks are consumer loans, which are generally above the benchmark interest rate set by the central bank.

A lot of auto financing is set up by auto companies themselves. The purpose is to let more people choose their own brands of cars. For example, Audi's auto finance company gave Audi a 9% interest rate, which is impossible for commercial banks to lend.

4. What's the difference between car loan, bank loan and financial loan?

The difference between financial loans and bank loans is that the interest rate of financial loans is high, and bank car loans are strictly implemented according to the central bank's interest rate, which is basically around 6%, and fluctuates with the adjustment of the central bank's interest rate. The loan interest rate of auto financing companies is obviously higher. For example, the car loan interest rate of Volkswagen Finance Company with a down payment of 35% is about 3 percentage points higher than that of banks. The car loan interest rate of Shanghai General Motors Finance Company is 7.94%, which is about 1.9 1% higher than the bank interest rate. If the interest rate is higher, it will reach 10%- 12%, which is generally a fixed interest rate. \ \ Although many brands have also introduced interest-free concessions, they are all based on non-negotiable car prices. So consumers don't get much discount. Taking the loan of 6,543,800 yuan as an example, the total interest expenditure of auto financing companies is generally 20,000-30,000 yuan. Of course, some financial companies will also take interest-free loans to increase the sales of some unsalable models, such as the interest-free loans of Ford Financial Company. \ \ The threshold for bank loan application is high \ \ The lending standards of auto finance companies are relatively loose, and the loan procedures are simpler. Under normal circumstances, the whole process only takes two or three days, and customers can get the car without paying fees such as handling fees and mortgage fees, which is convenient and fast. In the whole process of applying for loans, consumers' personal credit is an important factor to determine whether they can successfully apply for loans. The applicant's education, income, work, residence and even whether he has a driver's license affect his credibility. The higher the credibility, the smoother the loan. \ \ The bank car loan review procedure is complicated, which usually takes five working days or a week, and it has high requirements for the lender's occupation, income, credit and so on. When a car buyer applies for a car loan from a bank, the information to be submitted and the bank's audit process are very strict. However, the strict examination of customers by banks does not mean that customers cannot apply for loans at banks. Generally speaking, professional groups with stable incomes such as civil servants, teachers and employees of well-known enterprises are more likely to be recognized.