Why is it cheaper to buy a car with a loan than with full payment?

Since the car is purchased with a loan, the seller can charge loan fees. For sellers, both the loan and the full payment are collected by the seller in full, as well as loan processing fees, so buying a car with a loan is more favorable than buying a car with the full payment. Car consumer loans are a new loan method that banks issue RMB-guaranteed loans to car buyers who purchase cars at authorized dealers. A car loan refers to a loan issued by a lender to a borrower who applies to buy a car. In fact, it means borrowing money from a financial institution to buy a car. However, the financial institution needs to require the car buyer to pay a certain proportion of down payment and provide repayment. The ability shows that you have no bad credit record and you must meet the requirements of a financial institution to apply for a loan to buy a car. Why is it cheaper to buy a car with a loan than to pay in full?

Loan purchase sellers may charge a loan processing fee.

For the seller, both the loan and the full payment are collected in full, and there is a loan handling fee, so buying a car with a loan is more preferential than buying a car with the full payment. Car consumption loans are a new loan method that banks issue RMB-guaranteed loans to car buyers who purchase cars at their authorized dealers. Why does a car loan offer more discounts than a full payment?

It has interest-free, preferential and other policies.

It is more economical for customers to choose the credit card installment payment method when buying a car than using bank car loans, car finance companies, etc. Usually credit card installment payment is free of guarantee and interest-free, and only charges a handling fee. At the same time, when buying a car with a credit card installment payment, there are no mandatory requirements when purchasing new car insurance and renewal. Generally, you only need to purchase the main insurance and theft insurance.

For the credit card installment payment method, banks will have higher requirements for applicants. Generally, they require an account in the city, stable income, no bad credit record, real estate, and high-quality bank customers.

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Things to note when buying a car with a loan

1. The car buyer must be over 18 years old and a Chinese citizen with full capacity for civil conduct.

2. Car buyers must have a relatively stable career and relatively stable economic income or have assets that are easily liquidated, so that they can repay the loan principal and interest on schedule. The easily liquidated assets here generally refer to securities, gold and silver products, etc.

3. During the loan application period, the car buyer must deposit no less than the down payment for the car specified by the bank into the account at the savings counter of the handling bank.