The procedures for handling bank car loans are the most complicated and there are many conditions. Because of the high risk of car loan, bank approval is very strict, which often takes about a week. Moreover, the buyer is also required to provide a series of proof materials, including the buyer's household registration book, marriage certificate, ID card, education certificate, copy of real estate license, residence certificate, original income certificate, etc. Even in some areas, if you are single, you cannot apply for a car loan. Marriage certificate and proof of spouse's identity must be submitted, as well as the guarantee and pledge of the car dealer or the third party.
Auto financing companies have the simplest car loan, the simplest approval process and very low threshold, so that many people who buy cars can meet the requirements of car loans, and the approval of car loans is fast, so they can pick up the car as soon as possible. Auto financing companies only provide loan services for self-owned brand cars. Moreover, car buyers are required to have good personal credit and stable income. However, car buyers do not need to provide collateral other than vehicles like bank loans, and non-local accounts can also become unsecured car lenders. However, in order to control the loan risk, auto financing companies have the requirement of "home visit", that is, to investigate the situation at the buyer's home and workplace.
The approval procedures for credit card installment car purchase are relatively simple and the processing time is relatively short. Generally, it can be completed in 3 working days, but the loan period shall not exceed 2 years. When approving credit card installment payment, in addition to basic materials such as identity certificate and income certificate, the most important thing is to require the cardholder to have a good credit record, and only the cardholder with a good credit record can obtain installment qualification. To buy a car by credit card in installments, the cardholder needs to pay the down payment with cash or debit card instead of credit card. In addition, the installment fee should be charged in one lump sum at the first deduction.
Different departments have different car loan requirements, different entry thresholds and different interest rates. The credit card installment interest rate is the lowest, and the auto financing company has the lowest loan threshold, but the interest rate is also the highest. You can't eat cake at the same time. I believe you will find a car loan method that suits you.
Million car purchase subsidy