Comparison of characteristics of common car loan methods
2) loan quota: generally no more than 8 of the purchase price.
2) the loan amount of new mortgage loans generally loan purchase price 8 into.
Also want to remind you, whether it is to handle bank consumer loans / special Car Buying loans or credit card installment purchase business, if it is to find the car dealer to handle the case, the dealer may charge a commission fee. So, if not really can not move out of time, it is recommended to run their own banks to submit procedures for handling.
3) guarantee: as we all know, the bank loan threshold is high, in addition to the higher requirements for applicants, but also on the applicant’s income, higher requirements of assets, security procedures are more complicated.
1) loan interest rate: auto finance loan application procedure is simple, loan speed is fast, and corresponding is the interest rate is higher. Generally around 10%, relative to the bank benchmark interest rate is much higher.
5) repayment methods: matching principal and matching principal and interest of two.
Right now, loans to buy a car has become the norm, many young people in this way ahead of time to have their own car. However, there are many auto loan agencies on the market, mainly including banks, auto financing companies, small loan companies and Internet lending platforms. I believe many of my friends are on the car loan institutions have a certain understanding, but when it came to apply for loans will be more tangled, choose which lenders better? Small series specially compiled characteristics of different loans car loan institutions, it would like to share with you.
4) repayment methods: matching principal, matching principal and interest, flexible credit, segmented repayment, etc., repayment methods flexible and diverse, the applicant may choose in accordance with their own circumstances.
Believe that small partners see here, for choosing which car loan institutions should have the answer. Xiaobian personal comparison of banks, and auto financing companies, if you want to save interest, take the bank car loan; if the map saves trouble, take the car finance loans.
3. other channels
Although there are many auto loan agencies on the market, the bank is still the majority of car buyers loans. There is no reason for him, but the interest is low. Bank car loan products mainly include personal consumption loans, special car loans and credit card installment purchase 3 categories. Among them, the car buyers directly to the bank to apply for loans belonging to personal consumption loans, such as Agricultural Bank of the individual car loans. Of course, if you choose the 4S store and the bank have cooperative relations, go is the most special Car Buying loans or credit card installment car, such as jianxinglongka Car Buying stage etc.. Generally speaking, bank auto loan products have the following characteristics:
General 4S shop or car manufacturers have cooperative relations and auto finance company, to buy a car 4S shop, by default are taking the auto loan. Automobile financial loans have the following characteristics:
1. bank car loan
4) loan maturity: Bank personal consumption loans or special car loans, the duration of 5 years; credit card staging is generally 3 years long.
1) the loan interest rate will fluctuate in the benchmark interest rate, different banks for different customers have different floating standards: such as the Bank of China for quality customers, in the benchmark interest rate to fall 10%; while the bank is in accordance with the provisions of the central bank benchmark interest rates go up 10%.
2. Automotive Finance Corporation
In addition to banks, auto finance companies, some small loan companies, Guarantee Corporation and P2P network lending platform also provides mortgage car purchase services. Compared with the first two car loan agencies, small loan companies, Guarantee Corporation, P2P net loans under the car business, higher lending rates, in addition will receive certain fees (security fees or assessment fees).
3) mortgage / guarantee: General requirements of the car buyer can provide property, such as collateral or provide security.
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