Full payment does not need to pay any interest, but it will occupy consumers' funds. Although the cost of buying a car by installment (mortgage) seems to be higher, it is helpful for investment and financial management.
Under the current diversified forms of financial management, it is not difficult to find financial products with higher annualized rate of return. If you are too lazy to toss, there is nothing wrong with paying in one lump sum, and paying less interest is also a means of financial management.
What is the price difference between buying a car in full and buying a car in installments?
1. Although buying a car by stages needs to pay extra interest and formalities, it reduces the pressure on consumers to buy a car and can also help consumers with tight funds to manage their finances reasonably. For example, if you can apply for a mortgage loan from the bank, you don't need a guarantee fee to apply for a car loan from the bank. Assuming the loan term is 3 years, you only need to pay about RMB 6,543,800+0.6 million at the loan interest rate of 5.4%.
Need to be reminded that the general mortgage loan to buy a car requires a three-year full warranty. A new car with a car price of 1.3 million yuan is about 5,000 yuan per year, and the three-year premium is 1.5 million yuan. But you must pay the insurance premium for three years at a time. This is also a great pressure on the owner.
2. If consumers can't get bank loans because they don't have mortgage loans or their work units are not fixed, they can get loans through auto financing companies, that is, they can only get loans after being guaranteed by financial guarantee companies. In terms of cost, the car takes 654.38+0.3 million yuan, 50% loan, and the guarantee cost is about 3,000 yuan, plus the bank interest for three years is about 654.38+0.6 million yuan, which is obviously higher.
In this way, although the bank mortgage loan fee is relatively low, if you can pay the car loan in full, you'd better not mortgage it. In addition to the cost and interest, it will take some time to pick up the car after paying the money, and it will take a lot of effort in the formalities. You can usually pick up the car on the spot if you pay in full.
What are the fees for buying a car by installment?
At present, in addition to the down payment and interest, the car installment payment also needs to pay the following fees:
License fee -300 (for the license, those who choose to do it themselves will be exempted).
Vehicles below 300,000 yuan will be charged with a performance bond of 3,000 yuan (which will be fully refunded after the mortgage is completed).
Down payment for car purchase-(generally 40% of the car price, which can be appropriately relaxed to 30% for high-income customers of institutions or large companies).
New car insurance costs-(specifically including compulsory insurance, third party liability insurance, vehicle loss insurance, vehicle theft insurance, seat insurance and auto-ignition insurance).
Notarized mortgage fee -800 yuan (notarized vehicle mortgage).
Credit guarantee fee-generally charged at 1% of the loan amount, with appropriate differences in different regions.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.