Like buy a house loans, car loans also Jiancheng fashion. If the purchaser does not have sufficient funds to buy a car loan can ease the funding pressure on the car, the dream of an early round on the car if there is enough funding, car purchase loans to buy a car can help to increase the flow of funds to produce more money Money.
It is understood that a major domestic car loans Auto Financing Bank, auto finance company loans, finance leases in three ways, then, consumers choose what kind of loans will be more cost-effective, let us Bibi Kan.
Bank Auto Financing $:% of low interest rates, complex procedures, high costs
Banks to offer personal automobile consumption loans is the most traditional of the Auto Financing a model, the Auto Financing provided by the banks now can be divided into "straight off" and "between passenger and" two, "Inter-off" means that borrowers can Contributing first bank to buy cars, automobile dealers, loan applications submitted to the relevant information, and by automobile dealers to bank loan applications.
Bank survey approving the agreement, signed loan contracts, guarantee contracts, and legalization, and insurance procedures. "Straight-off" means the borrower went banks for loans, the banks agreed to our distributors after the car purchase. Such loans life in general for three years, the longest of not more than five years (inclusive). Lending rates in accordance with the provisions of the same period the People's Bank loan rates.
Advantage: Auto Financing Bank has the advantage of relatively low interest rates, although the central bank to raise rates again, the Auto Financing Bank interest rates also will increase 1-3-year interest rate from 6.03 percent transferred to 6.30 percent, 3-5-year interest rates 6.12% transferred to 6.48 percent, compared with an automobile financing company as much as 8 percent more than the interest rate, many low. Some banks in order to attract customers, according to the integrity of qualifications, will reduce the ratio of down payment, long-term loans, the lending rate to float downward, and other concessions.
Disadvantages: But, overall, banks Auto Financing complicated application procedures, the need to provide a series of car buying information and prove that banks can be effectively recognized the rights of pledge or collateral or with the compensatory ability of third-party guarantee. If the "inter-off" loans, and our distributors need to hold the signing of the purchase agreement or purchase contract, and so on. If not need a guarantor of local household registration, the process is cumbersome, the margin was not high. With the recent number of banks in the case of Auto Financing unsuccessful, the banks will increase Shendai, and presumably more difficult loans increased. In addition, some banks Auto Financing need to pay a variety of other costs, such as security fees, inspection fees, legal fees, mortgage fees, low-interest loans in the car than at the same time have to pay the company a much higher financial charges. It is understood that the security companies for car owners to provide loan guarantees business loans amount to be charged 1% to 1.2% of the security staff on-site service rates and the processing fee. If the purchaser to buy 15 million cars, 100,000 loans, loans for three years, then have to pay 100,000 (loan amount) × 1% (in the secured rate) × 3 = 3,000 yuan from 3,600 yuan or The amount of the guarantee, and 600 yuan or 800 yuan a processing fee. Some dealers have an agreement with the banks, although do not need the guarantee fee, but the condition is very high, such as cars, 200,000 yuan to buy the car loans were no other loans, the monthly income of 8,000 yuan, 40 percent down payment required.
+ Auto finance company: high interest rates, procedures simple, low-cost
October 1, 2004, the auto finance company engaged in automobile financing business has the right, then GM, Ford, Volkswagen, Dongfeng Citroen, Toyota, and other foreign auto giants in China have opened a vehicle finance company. Automobile loans through finance companies have gradually become the purchaser to select the way, and its simple procedures such advantages to the faster speed of development. It is understood that the general auto finance company down payment of 20% to 30% loan period not exceeding five years. Car buyers who intend to purchase selected models, which can be vehicle to the dealer to buy the company, of course, has to be run automobile financing business of brands and dealers. As long as the integrity of good, generally agreed loan.
Advantage: auto finance company more professional and humane. For example, GE Capital's smart loans and the financial flexibility to public loans, consumers can be part of the loan amount (usually no more than 25%) as a flexible balance due, in the last month loan period of one-time payment, rather than to calculate the amount of pay This will enable the car, was significantly lower than for traditional credit for the month. The contract expires, consumers can have a variety of options: a one-time settlement of the balance payment due flexibility, and gain full ownership of the vehicle, or the flexibility to apply for the balance payment due for a period of 12 months of the second loan, or with the assistance of the dealer to the secondary New car replacement, the balance payment due from the old discount deducted. Overall, automobile financing provided by the Auto Financing Company, its advantage lies in loans flexible, simple procedures. It is understood that in terms of loans, auto finance companies focus on car loans compared to the personal credit, education, income, and so are the reference standard, and the bank did not like to pledge, the field will not become a household registration to obtain loans Obstruction. In addition, the auto finance company lending loans faster, usually within a few days can be done.
Relatively speaking, the auto finance company than bank lending conditions relaxed. If SAIC GM Auto Financing for financial companies, does not account restrictions, do not need real estate, only need to provide valid proof of residence or residence booklet, one of the recent water / electricity / coal / telephone bill payment, marriage certificate or divorce certificate , The designated banks charge of bank cards, the borrower my driver's license, the borrower (a spouse or a guarantor) the effective identification documents, the borrower (a spouse or a guarantor) the effective proof of income.
Minuses: Auto Financing auto finance company's disadvantage is that higher lending rates, the 5-year interest rate to be close to some 9% Auto Financing interest rates than banks, auto finance company's lending rate to be higher by more than 2%.
Financing - rent. Dian /: for the low, low down payment, the total expenditure high
At present, the rent after the first buy, rent-buy side also is becoming a way to buy a car. It is understood that a number of specialized leasing companies and dealers and banks jointly by finance lease means selling cars. That is, from bank loans, personal use as a rental, loan payment to the personal property after all. At present, the rent to buy the consumer by way of security guarantees, including deposit, credit rating, property, security, mutual guarantees. Hire up to 10 years.
Advantage: rent to buy consumer services of loan interest by lending rates, banks Auto Financing required down payment and 20 percent to 30 percent compared to buy consumer can choose to rent, down payment, licensing, insurance, purchase tax, motor vehicles and other decorations Can also hire-purchase costs, from high-income car buyers are significantly reduced in terms of pressure, and this form is not limited to the household registration requirements. Once the rent paid on time and failed to buy gold, to advance from the deliberations, the car will not recover the vehicles were facing the risk of disposal. In addition, their instalments up to 10 years, the monthly car loan also reduce the pressure.
Disadvantages: But, in addition to payment for long, the advantages of zero down payment, lease financing and bank loans and there is not much difference from the cost point of view, because there is no interest rate cut 10 percent of the concessions, therefore, finance lease rather than banks The new Auto Financing product, the total cost may be even more.
It is understood that a major domestic car loans Auto Financing Bank, auto finance company loans, finance leases in three ways, then, consumers choose what kind of loans will be more cost-effective, let us Bibi Kan.
Bank Auto Financing $:% of low interest rates, complex procedures, high costs
Banks to offer personal automobile consumption loans is the most traditional of the Auto Financing a model, the Auto Financing provided by the banks now can be divided into "straight off" and "between passenger and" two, "Inter-off" means that borrowers can Contributing first bank to buy cars, automobile dealers, loan applications submitted to the relevant information, and by automobile dealers to bank loan applications.
Bank survey approving the agreement, signed loan contracts, guarantee contracts, and legalization, and insurance procedures. "Straight-off" means the borrower went banks for loans, the banks agreed to our distributors after the car purchase. Such loans life in general for three years, the longest of not more than five years (inclusive). Lending rates in accordance with the provisions of the same period the People's Bank loan rates.
Advantage: Auto Financing Bank has the advantage of relatively low interest rates, although the central bank to raise rates again, the Auto Financing Bank interest rates also will increase 1-3-year interest rate from 6.03 percent transferred to 6.30 percent, 3-5-year interest rates 6.12% transferred to 6.48 percent, compared with an automobile financing company as much as 8 percent more than the interest rate, many low. Some banks in order to attract customers, according to the integrity of qualifications, will reduce the ratio of down payment, long-term loans, the lending rate to float downward, and other concessions.
Disadvantages: But, overall, banks Auto Financing complicated application procedures, the need to provide a series of car buying information and prove that banks can be effectively recognized the rights of pledge or collateral or with the compensatory ability of third-party guarantee. If the "inter-off" loans, and our distributors need to hold the signing of the purchase agreement or purchase contract, and so on. If not need a guarantor of local household registration, the process is cumbersome, the margin was not high. With the recent number of banks in the case of Auto Financing unsuccessful, the banks will increase Shendai, and presumably more difficult loans increased. In addition, some banks Auto Financing need to pay a variety of other costs, such as security fees, inspection fees, legal fees, mortgage fees, low-interest loans in the car than at the same time have to pay the company a much higher financial charges. It is understood that the security companies for car owners to provide loan guarantees business loans amount to be charged 1% to 1.2% of the security staff on-site service rates and the processing fee. If the purchaser to buy 15 million cars, 100,000 loans, loans for three years, then have to pay 100,000 (loan amount) × 1% (in the secured rate) × 3 = 3,000 yuan from 3,600 yuan or The amount of the guarantee, and 600 yuan or 800 yuan a processing fee. Some dealers have an agreement with the banks, although do not need the guarantee fee, but the condition is very high, such as cars, 200,000 yuan to buy the car loans were no other loans, the monthly income of 8,000 yuan, 40 percent down payment required.
+ Auto finance company: high interest rates, procedures simple, low-cost
October 1, 2004, the auto finance company engaged in automobile financing business has the right, then GM, Ford, Volkswagen, Dongfeng Citroen, Toyota, and other foreign auto giants in China have opened a vehicle finance company. Automobile loans through finance companies have gradually become the purchaser to select the way, and its simple procedures such advantages to the faster speed of development. It is understood that the general auto finance company down payment of 20% to 30% loan period not exceeding five years. Car buyers who intend to purchase selected models, which can be vehicle to the dealer to buy the company, of course, has to be run automobile financing business of brands and dealers. As long as the integrity of good, generally agreed loan.
Advantage: auto finance company more professional and humane. For example, GE Capital's smart loans and the financial flexibility to public loans, consumers can be part of the loan amount (usually no more than 25%) as a flexible balance due, in the last month loan period of one-time payment, rather than to calculate the amount of pay This will enable the car, was significantly lower than for traditional credit for the month. The contract expires, consumers can have a variety of options: a one-time settlement of the balance payment due flexibility, and gain full ownership of the vehicle, or the flexibility to apply for the balance payment due for a period of 12 months of the second loan, or with the assistance of the dealer to the secondary New car replacement, the balance payment due from the old discount deducted. Overall, automobile financing provided by the Auto Financing Company, its advantage lies in loans flexible, simple procedures. It is understood that in terms of loans, auto finance companies focus on car loans compared to the personal credit, education, income, and so are the reference standard, and the bank did not like to pledge, the field will not become a household registration to obtain loans Obstruction. In addition, the auto finance company lending loans faster, usually within a few days can be done.
Relatively speaking, the auto finance company than bank lending conditions relaxed. If SAIC GM Auto Financing for financial companies, does not account restrictions, do not need real estate, only need to provide valid proof of residence or residence booklet, one of the recent water / electricity / coal / telephone bill payment, marriage certificate or divorce certificate , The designated banks charge of bank cards, the borrower my driver's license, the borrower (a spouse or a guarantor) the effective identification documents, the borrower (a spouse or a guarantor) the effective proof of income.
Minuses: Auto Financing auto finance company's disadvantage is that higher lending rates, the 5-year interest rate to be close to some 9% Auto Financing interest rates than banks, auto finance company's lending rate to be higher by more than 2%.
Financing - rent. Dian /: for the low, low down payment, the total expenditure high
At present, the rent after the first buy, rent-buy side also is becoming a way to buy a car. It is understood that a number of specialized leasing companies and dealers and banks jointly by finance lease means selling cars. That is, from bank loans, personal use as a rental, loan payment to the personal property after all. At present, the rent to buy the consumer by way of security guarantees, including deposit, credit rating, property, security, mutual guarantees. Hire up to 10 years.
Advantage: rent to buy consumer services of loan interest by lending rates, banks Auto Financing required down payment and 20 percent to 30 percent compared to buy consumer can choose to rent, down payment, licensing, insurance, purchase tax, motor vehicles and other decorations Can also hire-purchase costs, from high-income car buyers are significantly reduced in terms of pressure, and this form is not limited to the household registration requirements. Once the rent paid on time and failed to buy gold, to advance from the deliberations, the car will not recover the vehicles were facing the risk of disposal. In addition, their instalments up to 10 years, the monthly car loan also reduce the pressure.
Disadvantages: But, in addition to payment for long, the advantages of zero down payment, lease financing and bank loans and there is not much difference from the cost point of view, because there is no interest rate cut 10 percent of the concessions, therefore, finance lease rather than banks The new Auto Financing product, the total cost may be even more.
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