Because the loan needs to pay more interest, I don't think I should borrow money to buy a car. Because the more down payment, the less the loan amount, so I think it is more appropriate to pay more down payment and get a loan.
Is it advisable to borrow money to buy a car?
One is your ability to pay. Most customers who borrow money to buy a car are just entrepreneurs or white-collar workers. Choosing a loan means that the monthly fixed expenditure will increase in the future. Parking fee, gas fee, maintenance fee, etc. All of them are at least 65,438+0,000 yuan per month. If the saved funds are used for business turnover, we must consider the success or failure of the business. In case of failure, the car will not be able to repay the monthly payment and may be forcibly taken back.
The second is the cost and expected annualized expected income. Many people are attracted by low down payment, low expected annualized interest rate and low monthly payment, but no matter how low the cost, it is not completely free. "My friend's car was bought in full, and there was no discount. I originally wanted to buy it in full, but the salesman of the car dealership introduced me to borrow money to buy a car for one year, without paying interest, and I only had to pay a down payment of more than 4,000 yuan per month, and of course I had to pay a handling fee of 3,000 yuan, "said Mr. He, who had the experience of borrowing money to buy a car. In fact, the loan to buy a car is nothing more than saving a lot of capital expenditure. For white-collar workers, this money can be used as an emergency reserve fund to deal with possible large expenditures, or part of it can be used as investment and wealth management, and the expected annualized expected income will be some; For business people, if necessary, a loan to buy a car can alleviate the cash pressure.
The third is the strength of preferential treatment. In case of zero expected annualized interest rate, zero monthly payment and low handling fee, car buyers can take the form of loans. After all, the remaining funds can be used for other purposes. In addition, if there is no discount for one-time payment, car buyers can also consider which payment method is more suitable for them.
As for why sellers are keen to let consumers borrow money to buy a car, the reason is that they can earn some handling fees from it. Nowadays, automobile competitive sales is very fierce. If the profit of the car price is not high, the seller will definitely make some money from other aspects, such as licensing fees, loan fees and so on. Generally speaking, the loan fee is the fastest. For car loans, the fees range from 2000 yuan to 5000 yuan.
Is it appropriate to borrow money to buy a car?
Hello, car loans are very common nowadays. The way to buy a car by loan can be much more favorable, mainly reflected in the loan interest. The lower the interest, the less you pay and the more you save.
Share the knowledge of auto loan with you:
Object of loan: The borrower must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.
Loan conditions: the borrower has a stable job, the ability to repay the principal and interest of the loan, and good credit; Can provide recognized assets as collateral or pledge, or a third person with sufficient compensatory ability as a guarantor to repay the principal and interest of the loan and bear joint liability.
Loan amount: The maximum loan amount generally does not exceed 80% of the price of the purchased car.
Loan Term: The loan term for automobile consumption is generally 1-3 years, and the longest is no more than 5 years.
Loan interest rate: uniformly stipulated by the People's Bank of China.
Repayment method: you can choose one-time repayment method of principal and interest and installment repayment method (equal principal and interest, equal capital).
The above is the relevant knowledge about car loan. If you need money to buy a car urgently, I recommend you to use the big platform. For example, the money spent by Xiaoman Finance has a high loan amount, low interest rate and fast loan, which does not affect the car purchase process. Click on the link to test the quota, and you can get up to 200,000 yuan.
I would like to share with you the application conditions for consuming products with money: it is mainly divided into two parts: age requirements and information requirements.
1. Age requirement: 18-55 years old. Special note: if you have money to spend, you refuse to provide installment loans to students at school. If you are a student at school, please give up the application.
Information requirements: You need to provide your second-generation ID card and your debit card during the application process.
Note: the application only supports debit cards, and the application card is also your loan bank card. My identity information needs to be the second-generation ID card information, and cannot be processed with temporary id card, expired ID cards or first-generation ID cards.
This answer is provided by Youhuahua. Due to objective reasons such as the timeliness of the content, if the answer content is inconsistent with the actual interest rate calculation method of Youhuahua loan products, the display on Xiaoman Financial APP- Youhuahua Loan website shall prevail. I hope this answer is helpful to you.
Why not take out a loan to buy a car?
Reasons for not lending money to buy a car:
Users need to install GPS when they borrow money to buy a car, and this fee needs to be paid by the users themselves;
If you buy auto insurance in the first year, you will be required to buy all insurance, and the cost of all insurance is much higher than the optional cost;
4S stores charge financial service fees, which are fees other than interest;
If a loan to buy a car is inevitable, the cost of buying a car will increase a lot.
Therefore, whether users want to borrow money to buy a car depends mainly on their own economic situation. If they can't buy a car in full, it's ok to borrow money to buy a car.
Never borrow money to buy a car.
Never borrow money to buy a car.
A car, from tens of thousands to hundreds of thousands, is hundreds of thousands or even millions of expensive. Many people can't get the money at once, so they will choose a loan to buy a car. However, you should pay attention to the trap when buying a car with a loan, otherwise it will cause extra expenses or losses after falling into the trap. Let's look at the 13 trap of buying a car with a loan:
Trap 1: it is difficult to distinguish between true and false
Many people don't have a good grasp of vehicles, and even some consumers lack basic knowledge of automobiles and have no effective grasp of buying a car. This makes it easy for poor car dealers to make money and sell a novice car as a luxury class. So it is very important to choose a large and reliable trade market when buying a car.
Trap 2: price increase
When the formalities have been completed and the car can be picked up, the car dealer makes a request. For various reasons, consumers have to pay a certain amount of credit on the original car purchase price in order to pick up the car.
Trap 3: use contracts to deceive consumers.
If consumers don't check the contract carefully, they are likely to hide various traps. For example, it is stated in the contract that the loan repayment method is "equal principal and interest repayment", but the list of my car loan printed by consumers in financial institutions is "increasing capital and reducing interest".
Trap 4: 0 interest rate to buy a car.
There are often various car dealers shouting "zero interest rate" loans to buy cars to attract the attention of car buyers. However, there is a handling fee added to the car loan, which is calculated according to dozens of percent of the car purchase price. These expenses will naturally not be written in the advertising.
Trap 5: 1 yuan auto insurance
1 yuan auto insurance sounds very cost-effective. Although it includes such cost-effective contents as motor vehicle theft and third-party insurance, it actually needs to buy other commercial insurance, plus other messy expenses, which will cost a lot of money.
Trap 6: Special cars and sales cars
This kind of car is very likely to produce non-brand new cars or stock cars, and no one wants to find many new cars as soon as they get it, so pay attention to these conditions.
Trap 7: sign a blank page agreement.
Some car dealers will cheat consumers into signing blank page agreements. When consumers go to the dealer to go through the formalities of buying a car, the dealer will promise the service verbally first, and then let the consumer sign a blank page agreement. As we all know, when consumers see the credit agreement, they find that the loan amount is different from the previously agreed price.
Trap 8: Car dealers have no credit qualification
Some car dealers have no credit qualifications, but they send consumers who buy cars by installments to dealers with credit qualifications to apply for installment repayment.
Trap 9: two mortgage
Although this kind of problem rarely occurs, consumers should also be alert to the second mortgage of their vehicles by dealers, which will lead to loans.
Trap 10: Don't be deceived by daily and monthly offerings.
Sometimes, when some credit companies publicize and plan to open to the outside world, the interest rate of bank loans is not indicated, but only the amount of daily supply and monthly supply is chosen to publicize and plan. Cheap repayment will touch consumers, but when calculating the interest rate of bank loans, the annual interest rate will be particularly high.
Trap 1 1: Overpayment
When consumers go through the formalities of car loan, dealers intentionally deduct more accounts and don't give consumers loan contracts from financial institutions, so consumers can't find out.
Trap 12: Failing to apply for a loan according to the commitment specification.
Some credit companies usually give consumers a lot of service promises when they go through the formalities, but they can't succeed. At this time, consumers are required to refund the fees and bear the damage of the loan interest rate, so the credit company can't handle it.
Trap 13: the cost of default
Dealers use the diversity of loan procedures and calculation forms to "shorten" the repayment period of loan agreement, which leads to consumers "breaking the contract" and then defrauding consumers to add accounts.
Do not modify the remote startup.
At this stage, the name "Never modify, remote start" has appeared in the circle of owners. The fundamental reason is that it is easy to damage automobile parts such as three-way catalytic converter if the hot car is hot for too long. In essence, all normal remote start-up heating is harmless to the car, which is not much different from one-button start-up, but the distance of control space is different.
Although the remote control hot car will be in a waiting situation, the small opening of the cylinder is very easy to form carbon deposit, improve fuel consumption, and will continue to cause damage to the three-way catalyst. However, if the preheating time after remote startup does not exceed 10 minute, there is basically no harm, and there is no need to worry about the above problems.
On the other hand, installing remote startup is also very popular. For the cold northern region, remote starting can start the hot car in advance, improve the temperature inside the car, and get on the bus without shivering. In the south, if the car is parked outdoors, you can feel the gas heating when you open the door. You can start the car early and turn on the central air conditioner to lower the temperature.
How much does it cost to remotely start the installation?
According to the market price, the price of installing a set of remote start function is between 800- 1000 yuan, and the slightly more expensive one is around 2000 yuan, but there will be some differences according to the demand of the car and the local market.
It is particularly important to note that it is best to install the remote start function only when the car has an automatic transmission, so that it can be clear that the car is in the parking gear when driving. In addition, the installation of remote startup may change the original route, and you need to find a technical professional to install it. Never borrow money to buy a car. Never modify the remote start @20 19.
Do you need a loan to buy a car? Find out your situation first.
It is really convenient to buy a car. You don't have to wait for a taxi by bus when you go out. You can drive comfortably, go on vacation, go to go on road trip or something. However, many people have no plans to buy a car in full, and the loan to buy a car is somewhat entangled. After all, buying a car by loan is not suitable for everyone, so do you want to buy a car by loan? I think we should first consider the following situations and get to know ourselves:
Count your income.
Before buying a car with a loan, the borrower needs to carefully check his income and think about his car purchase budget. The monthly payment should not exceed 50% of the family's monthly income. If it exceeds this limit, it is best not to buy a car, so as to avoid the excessive repayment pressure affecting normal life.
Prepare loan procedures
In order to get the car loan smoothly, the borrower should prepare the necessary procedures for the loan in advance, such as identity certificate, residence certificate, marriage certificate and income certificate. In order to avoid being rejected by lending institutions due to incomplete procedures.
Can you repay in full and on time?
Many people think that if they buy a car with a loan, the car is their own, and they will not repay it according to the regulations after getting the loan. You know, your car is mortgaged in the bank, and the contract will generally clearly stipulate that if you don't repay it on time within the prescribed time limit, the bank will take it back for auction, and the proceeds will be used to repay the principal and interest of the bank loan first.
Remember to cancel the mortgage after the loan is settled.
When the borrower settles the car loan, he must remember to go through the mortgage cancellation procedures. If he doesn't follow this procedure, the ownership of the car will always be in the bank, not yours.
Finally, I would like to remind you that although you can get your own car quickly through a loan, you should also consider it clearly and make sure that you can bear the pressure of repayment before lending to buy a car. After all, owning a car is for better enjoyment, and you can't enjoy it if you can't afford the loan. Therefore, we must find out our own situation before deciding whether to borrow money to buy a car.