There are no more than fifteen auto financing companies in China. The biggest advantage of auto financing companies is that they don't need to provide any guarantee from car buyers, as long as they have a fixed occupation and residence, stable income and repayment ability, and good personal credit.
Usually, the loan amount is basically the same as that of the bank, and the procedures are relatively simple and the approval speed is fast.
At the same time, individual auto financing companies have also introduced flexible repayment, and can choose the loan method that suits them according to their own financial situation.
The loan interest rate of auto finance companies is relatively high, and the interest rate level is 20%~40% higher than that of banks.
Advantages: many concessions, high loan amount and relatively simple procedures. Disadvantages: the high interest rate is suitable for the crowd: people who buy Mercedes-Benz, GM, Volkswagen, Toyota, Ford, Dongfeng Peugeot, Dongfeng Nissan, Volvo, Chery and other brand cars.
Second, what are the advantages of auto financing loans?
The relative comparison between auto financing loans and general loans is as follows:
Credit card loan
The application process of credit card loan to buy a car is relatively simple. According to the cardholder's consumption and credit history, anyone with good qualifications can apply for car purchase by stages. At present, bank credit card installment generally does not charge interest, and a handling fee is charged in the first month after the bill is established, but the credit card installment is generally 2 to 3 years, and the installment amount is up to 200,000 yuan.
Automobile commercial loan
The threshold of automobile commercial loan is high, and the procedures for applying for automobile loan from commercial banks are complicated, and the threshold is also high. The materials that lenders need to submit and the review process are also strict.
Automobile finance loan
Compared with commercial banks, auto financing loans are more relaxed in audit, more flexible in loan methods and faster in service. Auto financial services are generally "self-selling and self-selling" by auto organizations, and there are not many opportunities to choose models. The biggest disadvantage of auto finance is that the loan interest rate is relatively high, and it is reported that the average level is above 9%.
3. What are the advantages of auto financing loans?
The relative comparison between auto financing loans and general loans is as follows:
credit card
If the qualification is good, you can apply for car purchase by stages. At present, the bank credit card installment bill is established for 2 to 3 years in the first month, and the installment amount is up to 200,000 yuan.
Automobile commercial loan
The threshold of auto commercial loans is relatively high, the procedures for applying for auto loans from commercial banks are relatively complicated, the threshold is relatively high, and the information and review process required by lenders are relatively low.
Automobile finance loan
Auto financing loans are more relaxed than commercial banks in auditing. Auto financial services are generally "self-selling and self-selling" by auto organizations, and there are not many opportunities to choose models. The biggest disadvantage of auto finance is that the profit of loans is above 9%.
4. What are the advantages of auto financing loans?
The relative comparison between auto financing loans and general loans is as follows:
1. Credit card loan
The application process of credit card loan to buy a car is relatively simple. According to the cardholder's consumption and credit history, anyone with good qualifications can apply for car purchase by stages. At present, bank credit card installment generally does not charge interest, and the handling fee is charged once in the first month after the bill is established, but the credit card installment is generally 2 to 3 years, and the installment amount is up to 200,000 yuan.
2. Automobile commercial loans
The threshold of automobile commercial loan is high, and the procedures for applying for automobile loan from commercial banks are complicated, and the threshold is also high. The materials that lenders need to submit and the review process are also strict.
3. Auto financing loans
Compared with commercial banks, auto financing loans are more relaxed in audit, more flexible in loan methods and faster in service. Auto financial services are generally "self-selling and self-selling" by auto organizations, and there are not many opportunities to choose models. The biggest disadvantage of auto finance is that the loan interest rate is relatively high, and it is reported that the average level is above 9%.