Bank loans are more cost-effective;

Suppose Bian Xiao wants to buy a car with 654.38 million yuan, with a down payment of 30% and a loan period of 3 years.

One: Bank loans

A car with 65,438+10,000 yuan needs a down payment of 30,000 yuan, and if the remaining 70,000 yuan is borrowed from a bank, it needs to pay an interest of 7,400 yuan (the benchmark interest rate of bank loans: 1 year 6.56%; 2-year 6.65%; 3-year 6.65%; 4-year 6.90%; 5-year 6.90%; ), the monthly payment is 2 150 yuan, and the total cost of buying a car is 107400 yuan, which is 7400 yuan more than buying a car in full.

Two: credit card loans

Because credit card loans do not require interest, you only need to pay a handling fee of 12% of the total loan amount in the first month. Therefore, if the loan is 70,000 yuan, the handling fee is 8,400 yuan, and the monthly payment is 1944 yuan. The total cost of buying a car is108400 yuan, which is 8400 yuan more than buying a car in full.

Three. Finance company loan

The annual interest rate of finance company loans 1-3 years is generally around 8%- 12%. If the median value 10% is taken as the annual interest rate and the loan is 70,000 yuan, the interest to be paid is113/3 yuan, and the monthly payment is 258.7 yuan.

Extended data:

What are the ways to buy a car with a loan?

One: Bank loans

Buying a car with a bank loan is a way that most car owners will choose. The down payment is generally 30%, the loan term is generally 1-3 years, and the longest is no more than 5 years. The loan interest rate is low and the repayment period is long. The difference between bank loans and other ways of car purchase is that banks can apply for car loans, not limited to car models or car dealers, which greatly increases the choice of car buyers with loans. However, the formalities are more troublesome, the loan review time is long, and the down payment ratio is relatively high. Generally, you can only apply for 70% loans.

This kind of loan is suitable for cash-rich car owners.

Two: credit card loans

Car purchase by credit card installment is a credit card installment business launched by banking institutions. Credit card loan procedures are relatively simple and the approval time is fast. Generally, the down payment is 30%-40%, the loan period is within 3 years, and some banks are within 2 years. The loan amount is linked to personal credit, and the biggest advantage is zero interest rate. Although the bank does not charge interest when handling the installment, it will charge a certain fee. The amount of fees varies according to the number of installments, and each bank has specific regulations, which are generally about 12% of the total loan amount. This method also has restrictions on the purchase of models. Generally, it can only be purchased in a 4S shop that cooperates with the issuing bank!

Three: auto financing company loans

Auto financing company loans refer to loans directly provided by auto financing companies of this brand when customers buy cars. The characteristics of this method are that the lender does not need to provide any guarantee, the procedure is relatively simple and the approval speed is fast. However, the loan interest is high, the term is short, generally not more than three years, there are few models to choose from, and other businesses will be bound, such as all kinds of insurance and compulsory decoration that don't have to be purchased.

Which is the most cost-effective car loan?

Nowadays, the traffic in the city is more and more convenient, and many people will choose to buy a car as their own means of transportation. It is also very convenient to buy a car now. There are various types and brands of cars, and you can also choose a loan to buy a car. As long as we pay the down payment, there is not much pressure on the monthly payment. It is not difficult to buy a slightly more expensive car that we like.

Now there are several forms of loan to buy a car, such as credit card loan, bank loan and auto financing company loan. But at this time, someone will ask, which car loan is the most cost-effective? Let's take a look together.

I. Credit card loans

I believe many people will have a credit card now. The advantages of buying a car with a credit card loan are fast, simple and low threshold. When we apply for a credit card, the procedures are relatively simple and the threshold for examination is not particularly high. Many credit card products have an interest-free period, so car buyers will repay their monthly bills in full and on time, so there is no need to pay interest.

However, it should be reminded at this time that the interest-free period and the handling fee are two different charges. When handling the installment, although the bank does not charge interest, it will charge a certain fee. The handling fee varies according to the number of bills, and the expected annualized interest rate and collection method of each bank are also different.

I would also like to remind car buyers that many banks have bought their own car credit cards and car joint credit cards, and they can enjoy greater discounts and discounts when handling car loans with these credit cards.

Second, bank loans.

The minimum down payment of bank loans can be reduced to 20%, so it is called the choice of prospective car owners who buy cars with loans. In addition, the amount of loans that banks can apply for is large, the expected annualized interest rate is low and the repayment period is long. The most important point is that banks can handle car loans without the restrictions of car models and car dealers, which greatly increases the choice of car buyers. There are many benefits, but it is not so easy to approve. Not to mention the need to prepare a lot of materials, and the most terrible thing is that you still can't apply for a loan after spending most of your time going through the process.

Three. Auto finance company loan

Not all auto brands have their own auto financing companies. There are no more than fifteen auto financing companies in China. For example, Dongfeng Nissan. The biggest advantage of auto financing companies is that they don't need to provide any guarantee from car buyers, as long as they have a fixed occupation and residence, stable income and repayment ability, and good personal credit. The loan amount is basically the same as that of the bank, and the procedures are relatively simple and the approval speed is fast. At the same time, individual auto financing companies are now flexible in repayment, and can choose the loan method that suits them according to their own financial situation.

What is the most cost-effective way to buy a car with a Spring Festival loan?

The Spring Festival is coming, and some friends who want to buy a car are also anxious to add a mount for their New Year. There are three common forms of personal automobile consumption loans in the market: auto finance company loans, bank loans and credit card installment car purchases. So, what are the advantages and disadvantages of different car loan methods? What kind of car loan can save costs more?

I. Bank auto loans

Generally speaking, most people choose bank loans when buying a car. Bank car loans require car buyers to provide household registration books, real estate licenses and other information, generally with the house as collateral, and find a guarantee company to guarantee, pay a deposit and handling fees. The bank's down payment is 30% of the car price, and the loan period is generally 3 years. Need to pay a deposit of about 10% of the car price and related handling fees. The expected annualized interest rate of bank car loan is low, which is determined strictly according to the expected annualized interest rate of the bank, so it has become the first choice of many people.

Second, the auto financing company loans

Auto financing company is established with the approval of China Banking Regulatory Commission, and provides financial services related to car purchase for car buyers. Compared with consumers who borrow money from banks to buy cars, auto financing companies have the advantage of low threshold. General car buyers don't need to provide any guarantee, as long as they have a fixed occupation and stable income, can guarantee a good repayment ability and have a good personal credit status. Generally speaking, the loan amount of auto financing companies is similar to that of banks, with simple application procedures, fast lending speed and many concessions. However, the disadvantage of auto financing company loans is that the expected annualized interest rate of loans is relatively high compared with banks.

Third, credit card installment loan.

Now there are credit card installment products on the market, which are the credit card installment business of banking institutions. The credit limit that the cardholder can apply for is 200,000-200,000; There are three stages: 12 months, 24 months and 36 months. There is no expected annualized interest rate for credit installment car loans, and banks only charge fees, with different installment rates. Due to the limited credit limit of general credit cards, the issuing bank will generally require the cardholder to provide financial proof. The financial certificates recognized by the bank include real estate license, credit card installment car purchase or commercial housing sales contract, and purchase invoice. Some banks require credit card overdraft limit of 6.5438+10,000-200,000 yuan, and some banks allow cardholders with good credit to apply for car purchase by installments.

How to borrow money to buy a car is the most affordable? What's the difference between two years and three years or five years?

First of all, different interests:

The three-year interest rate is generally low. The five-year interest rate is relatively high. The monthly repayment amount is different. If it is also interest-free, the pressure of three-year repayment is much less.

Second, the repayment calculation formula is different:

There is a formula for calculating the monthly repayment amount of car loan, which is mainly based on the loan method and repayment period selected by consumers, and the bank gives a suitable repayment plan according to the economic situation.

Taking a bank's automobile consumption loan as an example, the repayment formula is: repayment amount per installment = loan principal/repayment period (principal-accumulated repayment principal) × interest rate (monthly interest rate).

Loans to buy a car are generally based on the total amount of the first loan and calculated according to the bank's loan interest rate when signing the contract. If the bank interest rate changes during the repayment period, it will be adjusted with the interest rate in a certain year.

Third, the total loan amount is different:

Since it is a loan, there must be interest, and the shorter the time, the more cost-effective. However, the normal car purchase is calculated according to the three-year period. If you have sufficient funds, you can repay in advance, but you need to pay liquidated damages in advance, but the liquidated damages are definitely less than the later interest. Generally speaking, it is more appropriate to pay in advance.

Extended data:

Matters needing attention in buying a car

1. Check the appearance: whether the white film is complete, whether there are scratches after washing the car, whether there are scratches on the car paint, whether the fetal hair is neat and dense, and whether the interior is in good condition (seat, center console, steering wheel, doors and windows, sunshade, etc.). ).

2. Check the air conditioning system: turn on the air conditioner and check whether the button is flexible and can be cooled quickly.

3. Check the sound system: USB, radio and CD are faulty, the sound system is defective and the navigation is normal.

4. Check the display of the central control instrument: the general mileage is less than 60 kilometers, and the screen display is normal.

information needed

1: personal loan application;

2. Personal valid identity documents. Including identity cards, household registration books, military officers' cards, passports, and travel passes for compatriots from Hong Kong, Macao and Taiwan. If the borrower is married, the identity certificate of the spouse shall be provided;

3. Household registration certificate or long-term residence certificate;

4. Personal income certificate, family income or property certificate when necessary;

5. Certificate of intention to buy a car issued by the car dealer;

6: Loan to buy a car down payment certificate;

7. If the purchased vehicle is secured by other means than mortgage, the relevant materials of the guarantee shall be provided, including the pledge certificate, the ownership certificate and evaluation certificate of the mortgaged real estate, and the letter of intent for third-party guarantee, etc.

8. If the vehicle purchased by the loan is a commercial vehicle, it is also necessary to provide proof that the purchased vehicle can be legally used for operation, such as the affiliation agreement and lease agreement for the vehicle to be affiliated with the transport fleet;

9. The vehicle purchased by the loan is a second-hand car, and it is also necessary to provide proof of intention to buy a car and a vehicle evaluation report issued by an evaluation agency recognized by CCB; Vehicle ownership certificate of vehicle seller, motor vehicle registration certificate of trading vehicle, annual inspection certificate of vehicle, etc.