Which loan is the best loan to buy a car

Generally speaking, there are four kinds of loans to buy a car, each with its own advantages and disadvantages.

The first is a traditional bank car loan, its advantage is that the loan interest rate is low, but its disadvantages are high threshold, cumbersome procedures, and long disbursement time.

The second is the commercial bank credit card installment, its advantage lies in the low threshold of application, easy repayment, but its disadvantage is that the models and limits are limited, there are handling fees and limit restrictions.

The third is the auto finance company, which has the advantage of a fast approval process and a wide range of financial products, but its disadvantage is that the interest rate is relatively high and often tied to other businesses with dealers.

The fourth is the P2P financial platform, which has the advantage of a low threshold, convenience and coverage of all models, but its disadvantage is high interest rates. So whether it is cost-effective or not, you still have to decide according to your own actual situation.