In addition to compulsory insurance, commercial insurance can be purchased by itself, which can save premiums. Because the loan to buy a car is mortgaged, the use of the car is risky, because the lender stipulates that the car damage insurance and theft insurance protect the interests, and the relative premium is relatively high.

Second, what is the difference between buying a car in full and buying a car with a loan?

Lawyer Ren Yuan: Hello, people who buy a car in full are usually free to choose insurance companies and insurance items for commercial insurance. People who borrow money to buy a car are subject to many restrictions, and usually have to be fully insured for the first three years.

3. What is the difference between buying a car in full and buying a car with a loan?

1, the handling fee is different.

When manufacturers don't provide zero-interest financial policies, consumers need to bear two additional expenses: loan interest and handling fees (everywhere); In the process of buying a car, there is no charge for the full amount.

2. The car purchase time is different.

Buying a car with a loan will make many people who have confidence in future income spend money to buy a car in advance, which will significantly increase car sales; Many people can't spend a lot of money to buy a car at one time, and it takes some time to deposit.

Step 3 Pay different fees

You don't need a mortgage to buy a car in full, but you must pay: purchase tax, listing fee, compulsory insurance and travel tax. The insurance is purchased by the owner voluntarily.

Buying a car with a loan requires full insurance, which is required by banks all over the country. Because the property right of the car does not belong to the owner during the loan period, the owner uses the car as a mortgage. During the loan period, the property certificate, car purchase invoice and all-insurance policy must be placed in the bank, and the mortgage will be released after the loan is paid off.

4. Different interest rates

It takes 1-3 years to repay the loan, and interest is paid during the loan period; Buying a car in full is much less than buying a car by loan, saving a lot of time and energy, and there is no need to pay financial service fees and loan fees.

5. Different insurance costs

Many 4S stores will have insurance companies to cooperate with them for a long time. Usually, when buying a car with a loan, 4S stores will ask customers to buy all insurance in the store, but not all insurance is suitable for everyone, so it is not cost-effective.

When buying a car in full, customers can buy insurance by themselves without going through a 4S shop, which also reduces the chances of making money in a 4S shop.

6. Different maintenance costs

If you buy a car with a loan from a 4S shop, the subsequent maintenance costs are basically tied to the 4S shop, and the 4S shop can earn maintenance fees from it; Buying a car in full, the basic first insurance is in the 4S shop, and the owner of the follow-up maintenance can choose at will.

Extended data

Basic knowledge of buying a car with a loan:

1, credit card loan is the most economical way to buy a car.

It is more economical for customers who borrow money to buy a car to choose credit card installment payment than bank car loans and auto financing companies. Usually, credit card installment payment is free of guarantee and interest, and only charges a handling fee.

At the same time, when buying a car by credit card, there is no mandatory requirement for new car insurance and renewal. Generally, you only need to buy major insurance and burglary.

However, in the way of credit card installment payment, banks will have higher requirements for applicants, generally requiring local accounts, stable income, no bad credit history, real estate, and high-quality bank customers are preferred.

2, the way to repay the loan in advance

Pay attention to the repayment time in advance. Usually, if the loan term is less than one year, banks and auto finance companies will charge a certain amount of liquidated damages. The amount of liquidated damages is calculated according to 5%-8% of the remaining loan amount, and the overall loan cost is much higher than the normal repayment. Therefore, there is no need to consider prepayment for cars with a loan term of less than one year.

If you want to repay a car with a loan time of more than one year in advance, you generally need to make an appointment with the original lending institution about half a month in advance, and different lending institutions have different requirements. At the same time, before prepayment, you need to prepare all relevant materials, including personal identity card, loan contract, prepayment agreement, previous repayment bill, repayment application form, etc.

After the appointment is successful and the formalities are fully prepared, the repayment can be made at the appointed place according to the appointed time.