What does the two-year interest-free car loan mean?

The two-year interest-free car loan means that there is no loan interest for two years and only the principal needs to be repaid. Auto dealers' introduction of zero down payment and zero interest rate for car purchases is not a free lunch but a way of promotion. In fact, this move by the car dealer is not much different from cutting the price of the car. More information on car loans is as follows: 1. Introduction: Car loans refer to loans issued by lenders to borrowers who apply to purchase cars. Car consumer loans are a new type of loan issued by banks to buyers who purchase cars at their authorized dealers. Way. 2. Advantages and disadvantages of two years of interest-free: Buying a car in a car dealership may seem like you have paid less loan interest for two years, but consumers cannot enjoy the price discounts for that model. Steering wheel covers, seat cushions, reversing radars, and sunshade films The high-quality products waiting for gifts cannot be obtained for free. In addition, consumers cannot buy car damage insurance, theft insurance, commercial third party insurance, compulsory traffic insurance, excluding deductibles and other insurances when they buy a car with a loan. They must buy them through car dealers. In actual terms, consumers benefit from the zero interest rate, but other benefits make up for the merchants' interest losses.

Is a two-year interest-free car loan a good deal?

Is a two-year interest-free car loan really interest-free? First of all, whether it is a car loan or other types of loans, as long as it is a loan, banks or financial companies must charge interest. No one can do business without funds. It can only be said that the interest on the car loan is paid for you by the car manufacturer or 4S store. To put it bluntly, it is also a promotional activity of the car manufacturer, which is equivalent to interest-free for consumers.

What is certain is that the two-year interest-free car loan policy of many 4S stores is true. Generally speaking, these interest-free policies or preferential policies of 4S stores are activities directly carried out by the manufacturers. In other words, the interest on the two-year car loan is borne by the automobile manufacturer, and the 4S store is responsible for publicity and promotion. For 4S stores, of course they are also happy to promote it. Moreover, there is a lot of extra profit in it. Let's do the next calculation.

We use a vehicle worth 100,000 yuan as the calculation object. The down payment is 30, and the loan is 70, which means the loan is 70,000 for two years. Calculated based on the current bank loan interest rate of 3.75, the total interest in two years is 37,527 = 5,250 yuan. This interest is paid by the car manufacturer, but the 4S store basically does not need to bear it or bear part of it. For consumers, it feels like a real discount, but friends who have car loans to buy cars know that the additional cost of the entire car loan process is higher than this interest rate, which is actually not an advantage. What are the additional costs? Let's see.

First of all, when you apply for a car loan, the 4S store will charge you a loan processing fee, also called a financial service fee. The cost is generally more than 3,000~4,000. This fee is all collected by the 4S store, with a profit of 100. A GPS locator costs about 2,000 yuan. When you apply for a car loan, you will be asked to install this GPS locator to prevent you from finding the location of your vehicle in time when you cannot afford to repay the car loan. In fact, the cost of this GPS is only a few hundred yuan.

Insurance rebate commission, if you loan for two years, you must buy car insurance at the 4S store as early as possible within those two years. If you look at the cost of the insurance that must be purchased in the car loan, it will be about 4,000 yuan. The insurance cost is 8,000 yuan for two years. In these two years of premiums, 4S stores can get at least 2,000 yuan in insurance commission rebates. Vehicle mortgage fees, the charging standards in the automobile industry are generally calculated based on the loan amount of 1,100 yuan, and the loan is 70,000 yuan. The mortgage fee is 800 yuan. In fact, the real charge was 70 yuan, which means that more than 700 pieces were sold to 4S stores.

The authorization fee charged by 4S shopping malls is at least 500 yuan. After all, it is a matter of conscience. Some 4S stores, especially those of luxury brands, can receive more than 2,000 yuan. In fact, the license fee charged by the DMV is 130 yuan.

As mentioned above, there are additional charges for applying for a car loan. We will pay the total cost of the same level, 30020080080500=14,300 yuan. This is the additional fee that consumers need to pay to the 4S store. The profit earned by the 4S store is at least 7,000 yuan. It can be seen that the loan is 70,000 for two years.

Although you received an interest subsidy of 5,250 yuan on your car loan, you paid more than 10,000 yuan for it, so you did not get any benefits. The real benefit comes from the 4S store, which makes a profit of at least 7,000 yuan, and the car loan interest does not need to be paid by the 4S store, or a small part of it. It can be said that 4S stores make money while lying down. This is why many 4S stores only sell cars to loan customers. If you don't take out a car loan, they won't sell it to you.

To sum up, the two-year interest-free car loan is indeed interest-free on the surface, that is, you do not have to bear interest charges, but there are still many tricks and hidden additional costs. You must make careful calculations, weigh the gains and losses based on your actual situation, and make the right consumption pattern.

Is a two-year interest-free car loan a good deal?

It is not a good deal compared to buying a car in full, but it is a good deal compared to a general interest-bearing loan. The two-year interest-free loan is actually a car purchase and sale discount launched by the car manufacturer's finance or dealers. The purpose is to promote model sales, and car sales are the basis for manufacturers to survive in fierce competition.

Who would choose to buy a car with a loan if the budget is sufficient? Isn't this also a hopeless solution? As long as you take out a loan to buy a car, handling fees and in-store insurance cannot be covered, and other expenses other than these two items can be basically ignored. Generally speaking, a two-year interest-free car loan is very cost-effective, and it is very cost-effective for automobile manufacturers, dealers and There are benefits for consumers, which is why you can see slogans such as "two-year interest-free loan to buy a car" everywhere now.