Advantages: low loan threshold, flexible repayment methods.
Disadvantages: car finance companies are mostly limited to single car brands; lending rates are high.
Flexible credit: such as down payment 50%, remaining loans 50% (adjustable ratio of head and tail), monthly loans equal interest, the end of the loan is also the principal. And when the loan matures, the car buyer can have three options: a one-time payment, maturity, and then apply for deferred payment (that is, apply for second loans), or the replacement of second-hand cars into new cars. This approach is suitable for short-term lack of funds, the need for low monthly supply, income is not fixed people.
2, finance leasing company loans to buy a car procedures: ID card, driver’s license, if necessary, proof of supplementary assets.
Auto finance companies are mostly set up by car manufacturers and banks. General car dealers will provide customers with auto financing company loan services, which generally have the following characteristics of the loan:
Advantage: loan procedures are simple, lending speed.
1, under normal circumstances, banks / financial companies to buy a car loan procedures: identity cards, wages, water, social security or housing property certificate and other assets.
What procedures do you need to buy a cat’s financial loan?
Segmented Repayment: the loan is divided into segments, each containing several periods of repayment, and the total amount of repayment varies in each single segment. For example: the car loan 100 thousand into 3 sections, the first year repayment 20 thousand, second years repayment 30 thousand, third year repayment 50 thousand. There are three options for repayment at maturity (see scenario three). This approach is suitable for people with irregular incomes.
The repayment method is flexible and diverse: it can meet the demand of different car buying groups and different income characteristics
Mortgage / guarantee: a collateral, such as a house, or a guarantor
Matching principal: Monthly loans decreased with time, and the total interest expense is less than the matching principal and interest. A person suitable for accepting initial payments for a loan.
Loan amount: under normal circumstances can provide 80% of the price of loans
Through bank loans and auto financing companies are two main ways to buy a car loan. The use of other means of loan is generally encountered in the following three situations:
Equal principal and interest: monthly repayment amount is the same. A car buyer who is stable in income and expense.
4, P2P borrowing
3, the actual loan to buy a car formalities information, according to different product programs will have corresponding changes, with specific product requirements prevail.
Interest rate: loan facility and fast loan, but the interest rate is high (usually around 10%)
2, personal information, XinDa less than banks or auto finance companies to apply for conditions
For the crowd: car first payment less (only 20% or more); do not meet the conditions of the bank car loan application; need repayment methods more flexible people.
2, Guarantee Corporation
3, car buyers do not have enough down payment
Attention should be paid to: loan guarantee options: you can provide property mortgage, pledge, or by the insurance company to provide credit guarantee insurance, or by the dealer, Guarantee Corporation guarantee.
In addition, there is a way between the banks and these channels, that is, car finance companies to provide car loan business.
Through the above conditions, we can see that these loan channels include:
Car finance companies common repayment methods and suitable for the crowd:
We want to buy a car, but not so much money, will think of the loan to be completed by stages, and “loan” is often the word with the bank appeared, then the loan to buy a car must go to the bank?
1, small brand car, no auto finance company
1, small loan companies
These channels, lending channels and advantages and disadvantages
As we all know, the threshold of bank loans is still a little high, and today a cat Xiaobian for everyone to tidy up, in addition to banks, what are the ways to do ?.
3. Pawn shop
Advantages and disadvantages of applying for loans to an auto finance company
Disadvantages: there are channel fees and loan interest rates higher than those of the other two main modes.
Original article, reprinted please note： ReprintLOAN
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