At present, there are three mainstream loan way in auto finance loans, one is the traditional bank loans, two is the bank credit card payments, three is the business of automobile financial company loan. In the three approach, the traditional bank loans due to cumbersome procedures and other reasons have been gradually fading, credit card installment loans and financial business in the process gradually, more and more convenient purchase a car preferential conditions, gradually favored by the u.s..

 

The financial company loan  Shoufu low High interest

At present, like Volkswagen, GM, Ford, Dongfeng Citroen, Toyota and other enterprises have set up a financial company, and launched the car loan business. On the whole, the automobile financial company loan generally have interest, but interest than ordinary bank mortgage much higher. But it is the advantage of simple application, with respect to the commercial banks on the car loan applicants in the account, the vehicle license, mortgage and other aspects of the restrictions, the automobile financial company relatively flexible, and can also change in repayment methods, like General Motors financial company Buick "5050" lending model, the customer can choose to pay the car paragraph 50%, the remaining 50% by auto finance company loan.

In addition, the financial company held special credit activities, often can provide a very cost-effective for customers to purchase a car policy. In addition, an auto financing company, the first payment of the minimum requirements for only 20% of the price, the maximum loan period of 5 years, the advantage is obvious, of course, the minimum Shoufu and the longest repayment period are often aimed at teachers, civil servants and other income stability and the establishment of the general population, the ordinary consumer most will be recommend the use of 3 into a down payment, loan 3 years plan.

 

The public finance company: elastic tail section is very flexible

The public is one of the earliest manufacturers of financial business, so the financial loan business is relatively the most mature. First of all, its fees are relatively cheap, in addition, the public financial loans and a personal "elastic tail section" system. That the repayment period, the remaining 25% of the tail section can choose a one-time payment, can also choose 12 months installment. And if replacement car, can also change with the second-hand car money to pay off the payment.

Buy cars are

The purchase of vehicles	The new Bora 1.6 manual comfortable type
The market price (yuan)	130800
The first phase of the price (yuan)	40800
The loan amount (yuan)	90000
Fee (yuan)	1500
The first payment (yuan)	54390 (the first car purchase tax 5590+ 40800+ insurance 5500+ licensing fees 1000+ charge 1500)
Repayment period (month)	12	24	36	48	60
The total amount of interest (yuan)	5433	10344	16668	23520	32400
Repayment amount (yuan)	95433	100344	106668	113520	122400
For the month (yuan)	7341	4181	2963	2365	2040

Note: the above prices are for reference only, specific costs please contact the local dealer.

If you follow the dealers said to choose "car loan scheme elastic tail section", then the monthly repayment will also lower

The new Bora elastic tail section
The loan amount (yuan)	90000
Loan period (month)	36
Million in January for coefficient	276
Also on the amount (yuan)	2484
The tail section (yuan)	22500 (can be divided into 12 period or a repayment)

 Note: the above prices are for reference only, specific costs please contact the local dealer.

 

General financial company:Interest rates are relatively low

General financial loan interest rates are relatively low, but the fees are not cheap, 2000 yuan. In addition, according to the two and three year loan, general finance can provide the same as public financial loans elastic tail section, a period of three years the highest 20% of the tail section can be repaid in three ways, and choose the "wisdom" loan words, Shoufu low to 25%.

Buy cars are

The purchase of vehicles	Cruze 1.8SX tiptronic Deluxe Edition
The market price (yuan)	148900
The first phase of the price (yuan)	44900
The loan amount (yuan)	104000
Fee (yuan)	2000
The first payment (yuan)	69077 (the first car purchase tax 12727+ 44900+ insurance 7950+ licensing fees 1500+ charge 2000)
Repayment period (month)	12	24	36	48	60
The total amount of interest (yuan)	6161	11165	16789	23521	29748
Repayment amount (yuan)	110161	115165	120789	127521	133748
For the month (yuan)	8474	4799	3355	2657	2229

Note: the above prices are for reference only, specific costs please contact the local dealer.

 

Ford financial company:The interest rate the most transparent

In China, one of the Ford is earlier in the financial services firm. Relatively speaking, Ford financial loan period as public or general financial company is long, the longest 4 years only. However, taboo to inform consumers of specific loan interest rates in other financial issues, Ford financial was very generous, therefore, it has become so far all domestic auto manufacturers financial companies, only without taboo marked their lending rates.

Buy cars are

The purchase of vehicles	Fawkes hatchback 1.8 automatic fashion
The market price (yuan)	134900
The first phase of the price (yuan)	40470
The loan amount (yuan)	94430
Fee (yuan)	800
The first payment (yuan)	59800 (the first car purchase tax 11530+ 40470+ insurance 5500+ licensing fees 1500+ charge 800)
Repayment period (month)	12	24	36	48
Interest rates	9.95%	10.95%	11.25%	12.50%
The total amount of interest (yuan)	7555	12514	19438	27730
Repayment amount (yuan)	101985	106944	113868	122160
For the month (yuan)	7845	4456	3163	2545

Note: the above prices are for reference only, specific costs please contact the local dealer.

 

 

 

Credit card installment  Procedures to facilitate Without collateral

In contrast, credit card payment procedures is the most convenient, without a mortgage or other objects, as long as the cardholder credit is good, have a stable income, the bank will make a judgment based on individual circumstances, examination and approval procedure very quickly. In addition, the credit card installment purchase a car's bare car is based on the actual price after discount dealers shall prevail, very affordable. However, we take this approach before it is best to call the issuing bank, check your credit card to purchase a car loan credit.

At present, there are three major credit card installment purchase a car project, one is China Merchants Bank "car purchase easy", two is the Minsheng Bank "purchase a car", the three is the construction bank Longka installment purchase a car activity.

 

Car purchase easy: the procedure is simple

Relatively speaking, China Merchants Bank "car purchase easy" procedure is very convenient, but the drawback is with another two credit card fee higher than. Loan in the amount of 30000 yuan to 200000 yuan between (different types of installment amount range, please consult your local dealer), and, the loan amount must be a multiple of 5000 yuan. In Shoufu ratio, in addition to its Honda and Dongfeng Citroen models can be a minimum of 30% outside, other schools have the lowest Shoufu into 4.

At present, participation in "car purchase easy" car brand some models - Honda, Volvo, Dongfeng Citroen, Skoda, Beijing modern, Changan Suzuki, Dongfeng Peugeot, Volkswagen's.

Buy cars are

The purchase of vehicles	Fit 1.5L manual Elite Edition
The market price (yuan)	106800
The first phase of the price (yuan)	36800
The loan amount (yuan)	70000
Repayment period (month)	12	24
Fee (yuan)	2450 (3.5% of the loan amount)	4900 (7% of the loan amount)
The first payment (yuan) (the first phase of the price and purchase tax + insurance + licensing fee +)	49814 (36800+4564+5000+1000+2450)	52264 (36800+4564+5000+1000+4900)
For the month (yuan)	5834	2917

Note: the above prices are for reference only, specific costs please contact the local dealer.

 

Purchase a car: the repayment period is longer

With the other two credit card comparison, Minsheng Bank to open the "purchase a car through" the biggest advantage is the repayment period is long, when necessary, may be extended to 3 years. But can it be the loan amount is less, not more than 150000 yuan. Integer loan amount to 5000 yuan, down payment shall not be less than the full amount of the 40% vehicles.

Through the "purchase a car loan purchase a car through" model with modern Beijing, FAW Volkswagen, with Volvo's Yue, the Elantra, accent, Tucson, Sagitar, MAGOTAN, Bora, Jetta, S40 etc..

Buy cars are

The purchase of vehicles	Beijing Hyundai Elantra 1.6 GL AT
The market price (yuan)	106800
The first phase of the price (yuan)	46800
The loan amount (yuan)	60000
Repayment period (month)	12	24	36
Fee (yuan)	0 (12 period without fee)	3594 (5.99% of the loan amount)	5994 (9.99% of the loan amount)
The first payment (yuan) (the first phase of the price and purchase tax + insurance + licensing fee +)	57650 (46800+4650+5000+1200+0)	61244 (46800+4650+5000+1200+3594)	63644 46800+4650+5000+1200+5994)
For the month (yuan)	5000	2500	1667

Note: the above prices are for reference only, specific costs please contact the local dealer.

 

Jianxinglongka: high loan line

Overall, business with China Merchants Bank jianxinglongka purchase a car "car purchase easy" almost. Installment amount up to a maximum of 200000, single loan amount is also required to 5000 yuan integer times. In Shoufu ratio, only the Beijing modern and FAW Volkswagen models need a minimum payment of 4, in addition to the GAC Honda, Dongfeng Citroen and Dongfeng Yueda KIA will only need to pay 3 as you can.

Buy cars are

The purchase of vehicles	Dongfeng Yueda KIA Ferretti 1.6GL automatic type
The market price (yuan)	108800
The first phase of the price (yuan)	38800
The loan amount (yuan)	70000
Repayment period (month)	12	24
Fee (yuan)	0 (12 period without fee)	4900 (7% of the loan amount)
The first payment (yuan) (the first phase of the price and purchase tax + insurance + licensing fee +)	49250 (38800+4650+5000+800+0)	54150 (38800+4650+5000+800+4900)
For the month (yuan)	5834	2917

Note: the above prices are for reference only, specific costs please contact the local dealer.

 

 

Edit summary: loan purchase a car need to actuarial account

In addition to bank credit card way of staging and corporate finance company, car loans and other options, such as traditional bank loans. However, because of the traditional bank loans procedures more trouble, and validation procedures strictly, Shoufu ratio is higher, so it has rarely been used. In addition, there are some signed an agreement with the car maker's mortgage intermediary, also introduced many different kinds of access to credit, some of which are tied together with the insurance, some is to mortgage property etc..

Overall, with part of the loan purchase a car is the most complex, any a small part of miscalculation may draw different prices, and a multitude of names, in the loan projects, many projects did not in fact the surface propaganda so "affordable". Therefore, in the purchase a car when you must be detailed consultation with local dealers, and ask where all links and possible costs, put to count.

In addition, also need to consider their own intention models of the preserve and increase the rate of car loans before, some models and high rate, a few years can still maintain a high value, the value will be greatly reduced and some possible car over a period of time, if you choose is the loan instalments, then you may feel not too value. And if you take the financial company loan, fee plus hundreds of million of interest, it is easy to make you feel The loss outweighs the gain.

 

 

Purchase a car loan notes

Should have a loan purchase a car, the human condition

1, Guangzhou registered permanent residence, domicile, no local accounts for local accounts to guarantee.

Natural person 2, 25 to 60 years old.

3, can provide the lender approved pledge, mortgage or guarantee of the third party.

4, have a stable occupation, stable income, have the ability to repay the principal and interest of the car.

5, willing to accept the lender that other necessary conditions.

 

Two, the loan purchase a car should provide material

1, my ID card, residence booklet, driving license, the housing housing, two photos, income and labor certificate, parking permits.

　2, to purchase a car and the guarantor shall provide information in the purchase a car first, 2, 4, 6.

 

Three, operation process

1, to the dealership and advisory network consulting

2, the information provided by the dealer to pay the first instance

3, the selected models, with the dealer to sign the "contract" purchase a car

4, the first payment will be deposited in the designated accounts, and submit to the bank "auto loan application"

5, according to the "loan contract" provisions, scheduled to return directly to the bank loan interest

6, for vehicle dealers formalities and delivery vehicles

7, insurance, mortgage registration, the notary procedures

8, bank acceptance, approval, and signed the "loan contract"

 

Four, other matters needing attention

1, the vehicle insurance is to be handled in accordance with the agency designated by the insurance company, will ensure that categories are: car damage insurance, third party liability insurance, funded rescue, non deductible insurance and installment purchase a car credit insurance and guarantee insurance.

2, notary fees shared by both sides of purchase and sale, one half.

3, people still need to purchase a car loan period, a guarantee fee shall be paid. The standard rates on loans for the base, a term of 1% years, two years 2%, three years 3%.

4, the all in one service, but for all the costs borne by the vehicle households purchase a car, the user is required to pay the service fee. "Parking" requires the user to prove oneself handle.

 

Text / Yang Yuchi

(this article appeared in "quality of life StyleWeekly" car edition, reprint please specify the media and the author of the source.)