A car is not a rare thing. Nowadays, some white-collar workers believe that since they cannot afford a house, they should consider buying a car first. After all, having a car can greatly facilitate their daily life. Interest-free loans for car purchases are also attracting the attention of car buyers.
The so-called loans for buying a car can be chosen from credit card installments, auto company finance company loans and bank loans, some of which also include interest-free loans for buying a car. What is the difference between these three types of loans? Which method is more suitable for your situation? Let’s do some simple analysis.
Credit card installment car is not a general credit card car purchase, there is a larger limit and repayment rate fees, credit card amount can not exceed the credit card limit, suitable for shortage of a small amount of car purchase funds consumption. The credit card installment car service that has emerged in recent years is an auto financial service jointly developed by the card issuing bank and the car company. Generally no interest, only charge the commission of 3.50%-10% of the installment amount, and some promotional products are even free of commission. This is an interest-free loan for purchasing cars popular with customers. As long as the cardholder has good credit and stable income, some banks can complete the approval within a few hours. There are generally no restrictions on household registration and property. The bare car price for credit card installment cars is generally based on the actual market price, not necessarily on the company guideline price.
Auto Finance Company Loans In recent years, some auto finance companies in the early stage even launched zero interest rate, zero down payment and other auto credit business. Some car companies without finance companies also seek cooperation with banks to carry out a variety of preferential loan business. No-interest loans to buy a car tide continues to be hot. However, if they enjoy interest-free loans to buy a car, consumers usually do not enjoy the dealership’s car price discount.
Bank personal car purchase loans are guaranteed loans with one-time repayment provided by banks and car dealers to car buyers, and are insured and notarized by insurance and notary agencies for car buyers. Loans from banks through store dealers are simpler, but more costly. Direct passenger car loans are more cumbersome but less costly. Through the above introduction and comparison, I believe that you have a certain understanding of loans to buy a car, especially interest-free loans to buy a car, I hope it will help you.
