1. Go to the car shop.
2. Ask about the models that support interest-free loans in the store.
Choose the car you want to buy and apply for an interest-free loan.
4. Car dealers will submit loan applications to cooperative banks.
5. The bank approves the loan application.
6. Sign the loan contract after approval.
7. Bank loans.
Second, is the car loan interest-free loan credible?
There is no accurate value for the credibility of interest-free loans for auto loans. It can only be said that many interest-free loan policies have many traps to pay attention to. Therefore, consumers are advised to do their homework in advance so as to negotiate in advance and avoid unnecessary. Zero-interest loans are not surprising in financial markets. It is an automobile loan business jointly initiated by automobile production enterprises and banks or auto financing companies. However, in practice, in order to make up for the losses, car dealers often ask consumers to pay a handling fee when buying a car or a loan. This is also a way to charge interest in disguise. Just like the graduate student event that is very hot now. Some accidents will inevitably happen in the process of buying and selling vehicles. Similarly, in the process of handling car mortgage, car buyers may also encounter unsuccessful or delayed approval. If they want to cancel their subscription at this time, some dealers refuse to refund the deposit.
How about an interest-free car loan?
At present, many domestic auto dealers have joined forces with some auto finance companies to promote auto loan business, and are pushing the "interest-free auto loan" service. In order to grab more and more market cakes, automobile manufacturers use various marketing methods to win the favor of consumers. Shanghai GM Buick, Cadillac, Chrysler 300C and other models are promoting interest-free loans for cars, with the down payment of 20% to 50% of the car payment, and all the interest generated during the period is exempted. Interest-free loans for cars have lowered the threshold for buying cars, which is very attractive, especially for consumers with advanced consumption awareness and financial constraints.
Among them, car interest-free loans are divided into two ways, one is "1-3 years interest-free loans", which is also the most common mortgage method in the market at present. Consumers only need to pay the principal, and all the interest generated during the period shall be borne by the dealer. However, only within the interest-free period stipulated by the manufacturer, the repayment is zero interest, and the expenses generated by interest will be paid normally in the remaining months.
The other is "13 months interest-free loan method", which has a maximum term of 13 months, with zero interest for repayment within the specified period, and does not support early repayment.
Characteristics of interest-free loans for automobiles
1, saving costs
Under normal circumstances, the interest-free car loan is chosen to save the cost of car purchase and reduce interest expenses. Take a car with a total price of 1.2 million as an example. A down payment of 40% means the maximum loan amount is 72,000 yuan. Generally, according to bank regulations, the down payment is 50,000 yuan, and the total installment amount is 70,000 yuan. According to 12, the monthly repayment is 70,000 yuan/12 = 5,833 yuan, and the handling fee is 700,003.5% = 2,450 yuan. If the car loan is interest-free, the total cost of car purchase is 122450 yuan. If you choose a one-year automobile consumption loan, the total cost plus loan interest is 700007.47%=5229 yuan, then the total cost of buying a car is 125229 yuan. On the one hand, it is not difficult to see that interest-free car loans are more affordable.
2. The choice of vehicle models is limited.
Due to the gradual tightening of bank car loans, the advantages of car loans provided by auto finance companies have been gradually noticed. At present, FAW-Volkswagen applies for a loan to buy a car, and the average loan speed is two weeks, which is much faster than the loan from the bank. As the auto financing company has a stricter audit mechanism, after all the formalities are completed, the ownership of the car will be completely owned by the consumer, and no documents will be seized.
However, at present, the zero-interest car loans launched by car companies are all designated models. If you buy other models with loans, you have to pay higher interest than commercial banks.
3. the handling fee and auto insurance still have to be paid.
Is the car interest-free loan really affordable? Not exactly. In places where consumers can't see, dealers will divert consumers' attention through some other means, such as the amount of handling fees and the amount of auto insurance compensation.
When buying a car with a loan, you should pay attention to the relevant regulations on handling fees. Although many auto financing companies have launched interest-free auto loans, the regulations on handling fees are different, some need to be charged and some don't. If the car you want to buy is interest-free and fee-free, it is still relatively affordable. If you need to charge a handling fee, you must carefully calculate and measure it.
If you plan to get an interest-free car loan, be sure to read the relevant terms in detail. Auto insurance is definitely necessary to buy a car, but because it is an interest-free loan, the car will still be owned by the bank before the loan is paid off. In order to reduce the risk, banks generally require you to buy some auto insurance as a loan condition in the car loan contract. The premium of these insurances may not fully meet your requirements, and may even be too high, so you must read the relevant insurance clauses carefully when applying for a car loan, and you can't ignore this cost.
Generally speaking, if it is an interest-free car loan, then the car price will always rise to a certain extent, and the price of cash car purchase and loan car purchase cannot be the same. In this case, you have to calculate how much the floating amount is, and whether it exceeds the total interest of buying a car with a commercial loan. If it exceeds, you may wish to apply for a commercial vehicle loan. If not, you can apply for an interest-free car loan.
So, how about an interest-free car loan? Users should carefully consider and understand the various costs that will occur in this process, so as not to lose more than gain.
4. Is it worthwhile to buy a car with an interest-free loan?
It is not cost-effective to buy a car with interest-free loans, because there are many unknown procedures hidden in it.
1. Inexplicably "insured by auto insurance" Many seemingly favorable car loan advertisements declare "interest-free and unsecured", with a down payment of 30%, and the remaining loans can be paid off in a few months, and they promise never to charge interest. However, when you pick up the car, the other party will let you apply for your first auto insurance here, which may be much more expensive than the loan interest. Therefore, in the process of auto insurance, the so-called "interest-free" has become "interest-bearing".
2. Hidden handling fee Many people get carried away by the "interest-free loan" when buying a car, and sign the car loan contract in a daze, fearing that they will run away with long legs if they sign the car late. In a daze, they naturally can't see the "handling fee" clearly stated in the contract. When they found it, they found that the annual handling fee was 4% or even higher. At this time, it is useless to cancel the subscription, and finally you can only admit that you are unlucky.
3. Interest-free and car price concessions cannot be enjoyed at the same time. While providing interest-free loans, some 4S stores will stipulate that the same model can only participate in one preferential policy. When it comes to promotional activities, many models have a discount of 65,438+0,000 to 30,000. After car buyers enjoy interest-free, there is little or no discount. So careful calculation, enjoying "interest-free" also increases the cost of car purchase.
4. installment payment with large credit card is very tricky. Many 4S stores require customers to pay by credit card installment at the same time. Applying for a car loan through a bank is called zero interest, but you have to pay a certain handling fee. This handling fee includes the profit of mortgage business and loan interest, but the interest is collected through "handling fee", which may be "more impressive" than interest.
5. High-priced car accessories can enjoy interest-free loans for hard tying, but at the same time, they must accept the requirement of "buying car accessories at the original price". A set of car decoration with a preferential price of more than 5,000 yuan, the original price needs about15,000 yuan, so it is likely to be more expensive than "interest". In addition, there are many other "pits" that need attention in "interest-free loan car purchase". For example, interest-free is only 1 year, and if it exceeds 1 year, the annual interest rate will be very high. The hateful thing is that the sales staff will not take the initiative to mention this. If you don't look at the contract carefully, the car buyer is likely to be recruited. In addition, the "daily repayment amount of handling fees" used in the propaganda language seems to be a very small number, but if you multiply it by 365, you will find that this "pit" is really hidden. To sum up, interest-free loans will not bring us benefits, but will put us under greater economic pressure.