What kinds of car loans are there?

What are the common ways to buy a car with a loan? Mainly these kinds!

It is not difficult to own a car now. As long as you pay a certain down payment and repay it on time every month, you can easily get the car. So what are the common ways to buy a car by loan? Let's get to know each other.

I. Bank loans

This is the most traditional loan method. The advantage of bank car loan is low interest rate, but the disadvantage is complicated examination and approval procedures, high qualification requirements for lenders and complicated loan process.

Second, credit card loans.

Compared with bank loans, credit card loans do not need to mortgage vehicles, and vehicles can buy and sell their own transactions without loan restrictions.

Three. Automobile manufacturer finance company loan

Generally speaking, the finance companies of automobile manufacturers lend money to users through the finance companies established by automobile brands. Compared with traditional bank loans, the interest rate is slightly higher, but the approval speed is fast and the qualification requirements for lenders are not high. In addition, auto brand finance companies will do some activities from time to time, and the manufacturers will lend money after discounts. In this case, the interest rate will even be lower than that of traditional banks.

Fourth, Internet financial loans.

Internet finance is one of the popular loan methods in recent years. Compared with other channels, their credit process is the simplest and the approval speed is the fastest, but the disadvantage is also obvious, that is, the interest is higher.

Verb (abbreviation of verb) financial lease

Auto financing lease means that the user signs a lease contract with the financing leasing company, and the full amount of the car purchase is borne by the financing leasing company. Therefore, the ownership of the car belongs to the financing leasing company, and the user needs to pay the rent for the car used by the financing leasing company every month, and then transfer the vehicle to the user after the lease expires.

How many ways are there to buy a car with a loan?

The first type: bank car loan is actually a financial source. Com experts said that there are two main types of car loans that banks can provide: one is direct customers, that is, individuals take the initiative to apply for loans from banks, which are personal consumption loans; The other is guest-style, that is, car buyers choose banks that cooperate with 4S stores to apply for loans, which can generally be obtained through car loans or credit card car loans. This kind of loan is mainly suitable for borrowers with good personal credit, stable work and income, and guarantees and collateral. Experts say that car loans are made through banks. Usually, for new cars, the maximum loan amount does not exceed 80% of the car price. If it is a bank car loan or personal consumption loan, it will require certain proof of the borrower's income, collateral and other assets. The longest loan period is 5 years. In addition to credit card car loans, banks usually have no requirements for loan models and support multi-model and multi-brand loans. The interest rate of buying a car through bank consumption loans is basically the same as that of car loans, and most of them fluctuate on the basis of the central bank's personal loan benchmark interest rate, generally between 0-30%. Credit card car loan is pure credit, without guarantee, and the loan procedure is simple, but there are restrictions on cooperative models. Credit card car loans usually do not require loan interest, but they have to pay a considerable handling fee. The second type: auto financing company loans According to reports, auto financing company loans are a new way of auto loans in recent years, and auto financing companies are mostly established by auto manufacturers in cooperation with financial institutions. General auto dealers will provide customers with auto financing company loan services. Loans can often be handled in 4S stores, which is very convenient and the lending speed is relatively fast. Under normal circumstances, a loan of 80% of the car price can be provided. Auto financing companies have various repayment methods, which are suitable for different groups of people. At the same time, there are more flexible ways of credit granting and installment repayment. However, since auto financing companies are initiated by automobile manufacturers, most auto financing companies are limited to a single automobile brand. The third way: In addition to the above two ways, there are other ways of car loan, including companies, guarantee companies, pawn shops, P2P loans and so on. General car buyers will use it in the following three situations: (1) an auto financing company without a small brand car; Personal credit does not meet the application conditions of banks or auto financing companies; People who buy cars don't have enough down payment. However, these methods all have access fees, and the loan interest rate is higher than the above two main methods.

What are the common car loans? There are four main ways!

As a means of transportation, cars are favored by many people. With the improvement of social economy, it has become a very simple thing to buy a car now, as long as you pay a certain down payment and repay it in installments. So what are the common car loans?

1, bank car loan

Most banks will have auto loan products. Take China Construction Bank as an example. If the purchased vehicle is for personal use, the loan amount shall not exceed 80% of the price of the purchased vehicle, and the longest loan period shall be 5 years. If the purchased vehicle is a commercial vehicle, the loan amount shall not exceed 70% of the price of the purchased vehicle, of which the loan amount for commercial vehicles shall not exceed 60% of the price of the purchased vehicle, and the longest loan period shall be 3 years.

2. credit card installment payment

If you have a bank credit card, which is in good condition and can provide proof of identity, you can apply to the bank for a credit card to buy a car in installments, which is lower than the bank car loan threshold. However, many credit cards are purchased by banks and related 4s stores in installments. In addition to the interest of the credit card itself, you also need to pay a certain installment fee to the 4s shop.

3. Auto Finance Company

Go directly to the 4s shop. There are many financial companies in the market now, such as SAIC-GM Finance, Volkswagen Finance and Dongfeng Motor Finance. Take SAIC General Finance as an example. The borrower only needs to bring his ID card, household registration book, work certificate, property certificate and other related materials.

This kind of loan has simple conditions, and usually only needs an ID card and a bank card. If you catch up with the event, there will be an interest-free discount, but the installment fee must be paid.

4. Internet car loan

New edamame car, car riding, etc. They are all popular internet car loans now. I suggest that this kind of loan is risky, so we must choose a formal platform.

There are several ways to get a car loan.

Loans to buy a car include bank car loans, credit card installment loans, unsecured credit loans and auto finance company loans.

Let's stop here for some introductions about car loans.