Nowadays, loan to buy a car has become the main way for most young people to buy a car. 4S shops also have various loan schemes, which they will promote according to the actual situation of car buyers. However, it is convenient and fast, and it also increases the difficulty of their choice. Many friends who want to buy a car don't know much about car loans. When they buy a car, they can only listen to the 4S shop. They are always in a very passive position. Today, Brother Shi talked with his friends about how to choose a loan to buy a car. What are their advantages and disadvantages?
1, interest-free loan
Interest-free loans are only for 4S shop manufacturers' finance, but not for other loan companies, which shows that their requirements for car buyers are relatively high. So what conditions do you need to meet to enjoy the interest-free loan from the manufacturer's finance?
First, you must have good qualifications and pass the audit of the finance company. Second, the down payment of the car price should meet the requirements of interest-free loans (the manufacturer's finance clearly stipulates interest-free loans, and the down payment must be 50%-70% of the car price to enjoy, and the interest-free time is generally 1.5 to 2 years). Interest-free loans must have sufficient budget, and those that need capital turnover in the near future can choose.
Advantages: It is a good choice for some middle and high-priced models, and interest-free loans can save 1, 000-20,000. You can save interest money and take out funds for investment turnover.
Disadvantages: the audit is difficult, the down payment accounts for a large proportion, the repayment period is shorter than that of ordinary loans, and the pressure on ordinary people is slightly greater.
2. Discounted loans
As the name implies, a discount loan means that you pay part of the interest yourself and the financial company pays part of the interest. This kind of loan exists in both factory finance and various bank finance, but Brother Shi suggested that the discount loan for factory finance is the most cost-effective and the policy is more powerful than that of banks.
Discounted loan is also a very popular loan scheme, but its audit difficulty is second only to interest-free loan. The minimum down payment of discount loans can be 15%-40%, and the loan time is at least 3 years, which can give consumers enough capital turnover time.
For people who have insufficient budget but are in a hurry to use the car, discount loans are a good choice, but they must do what they can and choose the best down payment ratio and loan cycle.
Advantages: the difficulty of checking discount loans is slightly lower, the pressure of down payment and monthly payment is small, and the loan time is long.
Disadvantages: it still has some interest on discount loans. The longer the loan time, the higher its interest. Although the discount loan can make a minimum down payment, it is difficult to pass.
3. Quick loans
Fast loans widely exist in manufacturers' finance, bank finance and leasing companies, and they all have one common feature: low loan review difficulty and fast lending speed. The main target of fast loans is people with poor qualifications who can't meet the requirements of interest-free discount in some aspects. They simply want to buy a scooter, and the car purchase budget is generally around 3-6.5438+ 10,000 yuan. The down payment for quick loan can be at least 20% of the car price, and the repayment time is 2 -3 years.
Advantages: low requirements for quick loans, fast review speed and low down payment, which is very suitable for people with poor qualifications who want to buy ordinary scooters.
Disadvantages: the interest rate of fast loan is high, and choosing a fast loan vehicle will force the loan company to install GPS.
Finally, new and old drivers please get on the bus. At present, there are many kinds of auto loans. When making a loan, you should consult a sales consultant in detail, buy a car according to your ability, and choose a loan scheme according to your actual situation.
Pay attention to disciples, and there will be more knowledge sharing about car maintenance later. Thank you!
Note: The pictures are from the Internet, and the rights belong to the original author. Thank you!
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.
Advantages and disadvantages of discount loans
There are three differences between loans and discount loans:
First of all, they have different meanings:
1. The meaning of loan: loan is a form of credit activity that banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds.
2. The meaning of interest-subsidized loans: interest-subsidized loans refer to special bank loans subsidized by the state or banks for specific purposes.
Second, their roles are different:
1, the role of loans: Banks put concentrated monetary and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.
2. The role of discount loan: discount loan is a kind of preferential loan to encourage the construction of a cause or project. The loan interest can be fully subsidized or partially subsidized. Generally speaking, the principle of who arranges and subsidizes the loan spread is implemented. The subsidized loans arranged by the state are subsidized by the central government; Low-interest loans approved by the People's Bank of China are subsidized by the People's Bank of China; Specialized banks are responsible for low-interest loans.
Third, the application process is different:
1, loan application process:
(1) accepted. The handling personnel introduce the application conditions, term, interest rate, guarantee, repayment method, handling procedures, default treatment and various expenses that the borrower needs to bear to the customer, and conduct a preliminary examination of the loan conditions, qualifications and application materials of the borrower.
(2) investigation. According to the relevant regulations, investigators take reasonable measures to investigate the authenticity of the materials submitted by customers and evaluate the applicant's repayment ability and willingness.
(3) approval. Authorize the approver to finally approve and determine the comprehensive credit line and the validity period of the line according to the customer's credit rating, mortgage, pledge and guarantee.
(4) distribution. After the loan conditions are implemented. According to the demand for funds, customers can apply to the bank for withdrawal quota at any time.
(5) Post-loan management. The loan bank shall, in accordance with the relevant provisions of loan management, supervise and inspect the income status, loan purposes, changes in collateral value and performance status of borrowers and guarantors, and the inspection results shall be recorded in writing and filed. Supervise the guarantee or credit of the guarantor or borrower, and ask the borrower and guarantor to provide help.
(6) Loan recovery. According to the repayment plan and repayment date agreed by the borrower and the borrower in the contract, the loan bank deducts it from the agreed repayment account. The borrower can also repay the loan at the business outlets of the loan bank.
2. Discount loan application process:
(1) Voluntary application. Eligible applicants submit written applications (some of which can be directly submitted to the local human resources and social security departments or microfinance guarantee institutions) to the grassroots employment platform where their household registration is located or where they operate, and submit relevant materials, certificates or relevant certificates.
(2) Review and recommend. The human resources and social security departments conduct qualification examination, and those who pass the examination are recommended to microfinance guarantee institutions. A guarantee institution refers to a guarantee institution entrusted to operate a small loan guarantee fund according to relevant regulations.
(3) Commitment. The guarantee institution shall review the applicant's projects in accordance with the relevant provisions, and handle the guarantee procedures for those who meet the conditions.
(4) issuing loans. The loan applicant promised by the guarantee institution shall, after being examined and approved by the handling bank in accordance with relevant regulations, sign a contract and issue loans. The handling bank refers to all kinds of financial institutions at all levels that sign cooperation agreements with microfinance guarantee institutions to carry out microfinance business.
Which is suitable, zero down payment or discount loan? Let's look at their advantages and disadvantages.
As we all know, when applying for a loan, the borrower usually needs to pay a sum of money as a down payment, otherwise it is difficult to apply successfully. After applying for a loan, the borrower usually has to bear the interest expenses. But there are zero down payment and discount loans on the market. With the advice of the borrower, which one is suitable? Let's take a look at their advantages and disadvantages!
Which is suitable, zero down payment or discount loan?
Advantages and disadvantages of 1 and zero down payment loan
The biggest advantage of a borrower applying for a zero down payment loan is that the economic pressure in the early stage is small, and even without any cost, he can successfully apply for a loan and buy what he wants. The disadvantage of zero down payment is that the overall loan interest increases, and the borrower needs to bear great repayment pressure in the future.
2. Advantages and disadvantages of discount loans
The advantages of discount loans are very obvious. The state will subsidize some interest to borrowers. If you meet the requirements, you can even apply for a two-year interest-free discount. If the borrower is a veteran, he can also enjoy the exemption of administrative fees such as management, registration and license, saving a lot of expenses.
The biggest disadvantage of discount loans is that the application process is complicated and can only be applied at a fixed time. Generally speaking, the time to start discount loans is generally from February to March every year, and other loan application times are stipulated, which are more difficult to handle at other times.
In addition to the above advantages and disadvantages, the threshold for applying for discount loans is also higher than that for zero down payment loans. If you want to run a self-employed business, you should prepare employment and unemployment registration certificate, business license, introduction book and so on. Which is more difficult to come down.
Generally speaking, borrowers can judge what kind of loan they are most suitable for according to their current actual situation.
The above is the related content sharing of "which is suitable for zero down payment or discount loan", I hope it will help everyone!
What's the difference between car discount and interest-free?
The difference of Pacific Auto Network lies in the difference of implementers. Discounts are usually provided by financial institutions affiliated to auto companies, and loan interest is charged at a standard lower than the benchmark interest rate. Interest-free means that an auto financing company is exempt from loan interest when it borrows money to buy a car.
Interest-free or discount interest is generally a limited-time discount. Discount refers to car purchase by installment, super-long installment standard and ultra-low down payment. Generally, it starts with 36 issues and can last for up to 60 issues. For consumers, the discount can lower the threshold of car purchase and reduce the pressure of car use stage with extremely low down payment and long installment. For enterprises, there is actually no loss, because it not only activates production and sales, but also obtains reasonable financial benefits, mainly increasing sales and market share.
Interest-free, car purchase by stages will generally provide 24 installments (up to 36 installments), but the down payment is generally required to be half of the car price. There are two main modes of interest-free policies introduced by banks. One is that the government supports macro-control to stimulate the vitality of the automobile market, and the other is that banks and enterprises cooperate to obtain income in non-financial ways. Both modes can be absolutely interest-free, but it doesn't mean that there is no financial service charge for buying cars by stages, or users are not required to insure auto insurance in their stores during the repayment stage. (Photo/Text/Photo: Pacific Auto Network Chen Min 2)