It is not cost-effective compared with buying a car in full, and it is also cost-effective compared with most interest-bearing loans. Two-year interest-free loan is actually a kind of automobile purchase and sale discount introduced by automobile manufacturers' finance or dealers, which aims to promote the sales of automobile models and is the basis for manufacturers to survive in fierce competition. Who can choose a loan to buy a car if the budget is enough? There is a way. As long as you buy a car with a loan, you can't run away from the handling fee and in-store insurance, but other expenses are basically negligible. Generally speaking, two-year interest-free car loan is very cost-effective, which is basically beneficial to car manufacturers, dealers and consumers. This is why the slogan of "two years interest-free loan to buy a car" can be seen everywhere at present.

Which is more cost-effective, an interest-free loan or a full car purchase?

Interest-free loans are cost-effective Because interest-free loans refer to loans without interest and handling fees, in fact, interest-free loans will still increase the price of cars, because wool is on sheep. It is very cost-effective for many people who want to buy a car but don't have enough money. Interest-free loans make their money more flexible, so now many young people choose interest-free loans to buy cars. But if you have enough money, you can buy a car in full.

Interest-free loan is a kind of credit activity that banks or other financial institutions lend at a certain interest rate and must return. Under the agreed conditions, the interest can be paid by the bank free of charge, or by the government or the corresponding institutions. Applicants for interest-free loans must be at least 18 years old, but not more than 45 years old. In addition, they must be China citizens with full capacity for civil conduct. Applicants for interest-free loans must also have good credit and repayment ability, a stable job and income, and no bad credit record.

Conditions for bank interest-free loans:

/kloc-China citizens aged 0/8 to 45 with full capacity for civil conduct;

Proof of fixed residence and business premises. The certificate of fixed residence can be the real estate license (or the real estate license of parents' names), and the certificate of business place should hold the business license issued by the administrative department for industry and commerce and the business license of related industries, indicating that it is engaged in normal production and business activities.

Proof of funds. The loan applicant's investment project requires that he already has some self-owned funds. This is an important condition for banks to measure whether to lend, because the amount of venture loans generally does not exceed 70% of the total amount of funds needed by lenders for normal production and business activities and for purchasing (installing or repairing) small equipment and franchising.

Settlement account. The loan applicant must open a settlement account with the loan bank, and the operating income must be settled by the bank. Moreover, the purpose of the loan conforms to the provisions of relevant national laws and bank credit policies, and shall not be used for other speculative investment projects such as equity.

Loan guarantee. Loan applicants need to provide certain guarantees, including real estate mortgage, certificate of deposit pledge, third-party guarantee, etc. In addition, they should also provide banks with some information about their credit status, repayment ability and loan investment as much as possible, which will increase the credibility of loans and facilitate the smooth acquisition of loans.

Good reputation and no bad record;

The project conforms to the national industrial policy and regional economic development, and has good economic and social benefits. Entrepreneurs can consult the local labor department if they want to apply. At present, it has not been determined whether individuals pay interest first, then financial subsidies, or financial interest in advance, but the financial discount is certain.

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Is it cost-effective to buy a car with a two-year interest-free loan?

Compared with interest-bearing loans, it is quite cost-effective, but you need to pay attention to the handling fee. Interest-free loans are generated by the formal operation of financial companies owned by large joint ventures. Their purpose is not to borrow money to make money, but to sell cars, so that some consumers who don't have enough cash to buy a car and worry that interest will become a burden on their lives don't have to worry about taking out money boldly. The key is the promotion of major manufacturers, which is also a means of sales. Although the interest-free loan is very attractive, we should pay attention to choosing the car carefully according to our own situation, because if we don't repay the loan, there will still be a handling fee and even the car may be collected. In addition, the company's interest-free policy may be limited to certain designated models, and several models of the same brand can often meet everyone's needs and sell well. At the same time, some models are unpopular, and some interest-free loans are aimed at some unpopular models.

Is it cost-effective to buy a car with an interest-free loan? Let's stop here.