Car loan: Car consumption loan is a new loan method that banks provide RMB-guaranteed loans to car buyers who buy cars at special dealers. Loan to buy a car refers to the loan issued by the lender to the borrower who applies for buying a car. In fact, it is to borrow money from financial institutions to buy a car. However, financial institutions require car buyers to pay a certain percentage of down payment and provide proof of repayment ability. They have no bad credit records and must meet the requirements of financial institutions before they can apply for loans to buy a car.
Buy a car by installment: installment payment is mostly used for some product transactions with long production cycle and high cost. It is more economical to choose credit card installment payment than bank car loan and auto financing company. Usually, credit card installment payment is free of guarantee and interest, and only charges a handling fee. At the same time, when buying a car by installment with a credit card, there is no mandatory requirement for insurance and renewal when buying a new car. Generally speaking, you only need to buy major insurance and theft.