There are different answers to this question according to different regions, dealers, auto financing companies and guarantee companies. The trial scheme is as follows: 1. The auto finance company is a professional auto finance service company, which only deals with cars (including passenger cars and non-passenger cars). Usually affiliated to the automobile (automobile factory) production and operation group, it is a subsidiary of the automobile company or a joint venture company of its subsidiaries. Such as SAIC General Motors Finance Co., Ltd. (SAIC Finance Company, American General Motors Finance Company and an American consortium), Toyota Motor Finance Company, BMW Auto Finance Company (BMW China and BMW Brilliance), Mercedes-Benz Auto Finance Company, Dongfeng Peugeot Citroen Auto Finance Company (Dongfeng, Peugeot and Citroen joint venture), Volkswagen Auto Finance Company, Dongfeng Nissan Auto Finance Company (Dongfeng Nissan joint venture), Fiat Auto Finance Company and Guangzhou Automobile Exchange. There are two main businesses of auto financing companies: one is the inventory financing wholesale business of auto dealers (that is, the corporate business generally defined by banks); The second is to provide retail loan services for customers who buy designated brands (usually independent brands, and some auto finance companies such as SAIC-GM also have non-independent brands); Third, derivative businesses such as car leasing (including operating leasing and financial leasing) (at present, their business is immature). The car loan you mentioned should be the second kind of retail loan business, and you can directly deal with auto financing companies to get loans without the participation of third parties. Second, the essential function of a guarantee company is to "provide guarantee" for legal persons or natural persons who cannot meet the risk control requirements of financial institutions, so as to reduce the loan risk of financial institutions. The main source of income is the guarantee fee. To put it bluntly, the guarantee business is parasitic on the banking business. The service targets of guarantee companies are mostly small and medium-sized enterprises (some also provide guarantees for high-risk large projects). At present, there are relatively few guarantee companies engaged in personal business, and more are involved in reliable guarantees such as houses, and even fewer are involved in auto loans. If your qualifications meet the requirements of loan financial institutions (banks), there is no need to use guarantees. Perhaps in some areas, banks must have the intervention of guarantee companies before they are willing to lend money to lenders who lend money to buy cars, so there is no way out. Therefore, specific problems need to be analyzed in detail, otherwise the guarantee cost is not worth the loss. In addition, the bank that signed the loan contract with you lent you money, whether to repay it or return it to the bank; The transaction relationship between the guarantee company and you is guaranteed by the additional guarantee contract. Under normal circumstances, the guarantee fee is paid to the guarantee company in one lump sum when lending money. Third, the question you should consider: 1, interest rate In the absence of subsidies from auto manufacturers, the annual interest rate of auto financing companies in the market is between 8%- 18%, and the average may be around 13%. For some slow-moving or promotional models with zero interest rate, you can pay attention to it and see if you apply for a zero-interest loan, the car price will be less favorable, or if other parties will enjoy less products and services. If so, it loses the meaning of zero interest rate. After all, pure zero interest rate is still rare in the market. Another situation is that auto finance companies have designed many strange products, such as two big repayment plans and a small repayment plan, with a monthly payment of tens or hundreds of yuan. In fact, if you have mental arithmetic, the comprehensive interest rate is still quite high. If the salesman only tells you how much to pay back every month and doesn't even mention the interest rate at all, then you should be extra careful, calculate the overall interest rate and cost of the loan in advance, and wait until you calm down before signing the contract. Different guarantee companies have different rates, and the guarantee fee is charged according to a certain proportion of the loan amount (please consult the guarantee company for details). The interest rate of banks is much cheaper than that of auto financing companies, and even the benchmark interest rate of the central bank has been lowered. Different banks have different interest rates. I believe that the annual interest rate of bank car loans in China will be below 10%. You calculate the guarantee fee plus interest and compare it with the loan cost of the auto financing company. Some banks will deal with lenders directly, and there will be no guarantee fee without going through the guarantee company. Personally, I think it is of little significance for guarantee companies to make car loans. For example, there are no guarantee companies in Guangzhou's car loan market, but there are some mortgage consulting companies, which are equivalent to the outsourcing units of banks to do basic business, help banks earn labor costs and undertake the function of banks to give discounts to car dealers. Tip: Auto financing companies don't bargain. Familiar local banks may apply for low interest rates. Basic comparison of the above interest rates. 2. Efficiency It is generally believed that the acceptance, approval, mortgage and lending processes of auto financing companies are usually faster than those of banks, but in some areas, local banks are ridiculously fast and complete the whole loan in just a few days. Because the cases are different, under normal circumstances, it takes one to two weeks for both auto financing companies and banks to submit loan application materials and drive their cars back. 3. The stability of macro-financial policies also has an impact on car loans. It is necessary to ask whether lending institutions can lend stably. The most common situation is that all the formalities have been completed, and suddenly the lending institution says that all the money in the current month (or quarter or year) has been released, and there is no loan quota, or the loan task has been completed, so it is impossible to lend money. That's worse. It is really unclear when they will lend money. Although it's only a month's time, there is really no music. 4. Barter refers to the approval conditions. No matter whether you choose an auto financing company or a guarantee company (bank), you are required to conduct a comprehensive investigation and evaluation of the basic information of the loan applicant, such as real estate, age, gender, marital status, work unit, income level, and even the basic information of the enterprise (if it is like the business owner), and then decide whether to lend you a loan, whether to unconditionally meet your requirements or reduce part of the amount, or add additional conditions such as asking you to open a credit card and pledge deposits. If you are a quality customer, it doesn't matter; If the conditions are average, it is better to ask which one is easier to get a loan first, and there are not so many rules. 5. The service quality needs no explanation, right? Ask the person in charge first. I've met people who handed in a pile of materials, spent a lot of time and didn't lend them out at last. He was upset not because he didn't get the loan, but because he didn't get the respect of the lending institution. 6. Is it mandatory to buy insurance and other additional conditions at the dealership? How much is the handling fee? Who received it? What's the difference between the service and the price of a one-time payment car purchase? Is there a penalty for prepayment? How to collect it? Wait a minute.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.