Bank loans are more cost-effective;

Suppose Bian Xiao wants 0% and the loan period is 3 years.

One: Bank loans

For a car with a price of 65,438+10,000 yuan, a down payment of 30,000 yuan is required. If the remaining 70,000 yuan is borrowed from a bank, the benchmark interest rate for bank loans will be 6.56% 1 year; 2-year 6.65%; 3-year 6.65%; 4-year 6.90%; The five-year period is 6.90 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 don't need interest, they only need the first month's handling fee, so if the loan is 70,000 yuan, it needs to pay the handling fee of 8,400 yuan, and the monthly payment is 1944 yuan. The total cost of buying a car is 1084 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:

Loan to buy a car

One: Bank loans

Buying a car with a bank loan is a way that most car owners will choose. The down payment is usually 1-3 years, and the longest is not more than 5 years. Loan interest rate is low. The difference between bank car loans and other loan methods is that car loans can be not limited to car models and car dealers, which greatly increases the loan procedures, takes a long time to review loans, and can only apply for 70% loans at most.

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

Two: credit card loans

Car purchase by credit card installment is a kind of credit card installment industry introduced by banking institutions, which is relatively simple. The approval time is less than 3 years, and some banks are less than 2 years. The loan amount is linked to personal credit, and the biggest advantage is zero interest rate. Although there will be a certain handling fee, the amount of handling fee varies according to the number of installments, and each bank has specific regulations, which are generally around 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: steam

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.

Second, what is the most cost-effective loan to buy a car?

For many office workers, owning a car is really a good thing, but because of the tight salary, many people choose loans when buying a car. Generally speaking, there are three common ways to buy a car by loan: credit card loan, bank loan and auto financing loan. So, among the three ways, which one is more cost-effective? Today, let's take a look. First, credit card loans to buy a car The advantages of credit card loans to buy a car are low application threshold and quick review. Credit card loan procedures will be relatively simple, and the audit will be much lower than that of banks. Moreover, 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. In addition to the handling fee, the down payment of credit card loans to buy a car is generally higher than that of banks. Credit cards are generally 30~40%. In banks, it is generally 30%, and it can be as low as 20% for high-quality customers with good reputation and stable income. Secondly, if you buy a car by credit card, the credit card limit cannot exceed the credit card limit. Generally speaking, the overdraft limit of a credit card is within 5W, and the maximum overdraft limit does not exceed 20W. Second, the minimum down payment for bank loans to buy a car can be reduced to 20%, so it is called the choice of prospective car owners for most loans to buy a car. 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. Although there are so many advantages in choosing a bank car loan, you should know that the application threshold is not low. Not to mention a lot of materials to prepare, and the most terrible thing is that after you spend most of your time going through the process, the bank is likely to say, "I'm sorry, your qualifications don't meet the relevant regulations of our bank." Third, auto finance companies borrow money to buy cars. 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.

Third, how to borrow money to buy a car?

At present, there are three ways to buy a car by loan, namely credit card loan, bank loan and auto financing company loan. These three methods have their own characteristics and are suitable for different people. You can choose according to your own situation.

4. How can banks get the most cost-effective loan to buy a car?

At present, there are two kinds of "personal car loans" that can be handled by our one-card card:

① Consumer loan is used to buy a car, and it is necessary to apply for mortgage of the property with full property rights;

(2) Personal car loans need to be mortgaged with the purchased vehicles;

Note: For both kinds of car loans, you need to buy a brand-new non-operating car in your name (second-hand cars are not accepted for the time being), and generally you need to pay more than 30% down payment yourself (down payment is not allowed).