3 Common Loan Programs, Do You Know Them?
Nowadays, buying a car with a loan is the main way of purchasing a car for most young people, and there are all kinds of loan programs available in 4S stores, which they will market according to the actual situation of the car buyer. But in the convenience at the same time also increased the difficulty of their choice. Many friends who want to buy a car do not know much about auto loans, and can only listen to the 4S store when buying a car, they are always in a very passive position. Today, the division and your friends talk about how to choose a loan to buy a car program? What are their advantages and disadvantages?
1, interest-free loans
4S stores manufacturers finance only interest-free loans, other loan companies are not, from the side of the car buyer's requirements is relatively high. So what exactly are the conditions that must be met in order to qualify for an interest-free loan from the manufacturer's finance?
The first point, there must be good qualification conditions, can pass the audit of the financial company. The second point, the car price down payment amount to reach the provisions of the interest-free loan (manufacturers of financial for interest-free loans are clearly defined, the down payment amount must be 50% -70% of the car price in order to enjoy, and interest-free time is generally 1 ? to 2 years). For interest-free loans, you must have a sufficient budget and can choose if you need money for working capital in the near future.
Advantages: For some moderately priced and high models is a very good choice, interest-free loans can save 10,000 - 20,000 interest money. You can save interest money and still come up with money for investment turnover.
Disadvantages: the audit is difficult, the down payment amount accounts for more, the repayment cycle is shorter than the ordinary loan time, for the average person is slightly more pressure.
2, subsidized loans
Subsidized loans, as the name suggests, is that you pay a portion of the interest yourself, and the financial company then pay a portion of the interest. This type of loan in the manufacturers of financial and various types of bank finance, but the division suggests that the choice of manufacturers of financial subsidized loans the most cost-effective, the policy is more powerful than the bank.
Loan programs in the discount loan is also a very popular one, but it is also the second most difficult to review after the interest-free loan. Discounted loans can be as low as 15-40 percent down, and the minimum loan period is always three years, which can give consumers enough time to work out their money.
Subsidized loans are a good option for those who are short on budget but in a hurry to use a car, but it is important to choose the best down payment percentage and loan period within your means.
Pros: Discount loans are slightly less difficult to qualify for, less stressful in terms of down payment amount and monthly payments, and longer loan periods.
Disadvantages: The subsidized loan still has some interest, and the longer the loan period, the higher the interest rate. Although the subsidized loan can be the lowest down payment, it is difficult to pass.
3, fast loan
fast loan in the manufacturers of finance, bank finance, leasing companies widely available, they all have a *** with the same characteristics is the loan audit difficulty is low, fast release. The main service object of quick loan is the people who are poorly qualified and cannot meet the requirements of interest-free and discounted interest in some aspects. They are purely want to buy a replacement car, the car purchase budget is generally in the 30,000-100,000, and the down payment of the quick loan can be as low as 20% of the price of the car, and the repayment time is 2 years -3 years.
Advantages: The low requirements, fast audit speed and small down payment amount of quick loan are very suitable for the people who are not qualified but want to buy a common mobility scooter.
Disadvantages: fast loan interest is high, and choose fast loan vehicle will be forced by the loan company to install GPS.
Last nagging sentence, new and old drivers please get on the car. Now there are many types of auto loans, in the loan to consult the sales consultant in detail, buy a car within their means, and combine their actual situation to choose the loan program.
Follow the division, later there are more car maintenance class knowledge to share, thank you!
Note: The picture is from the network, the rights of the original author, and thank you!
This article comes from the author of the automobile home car family number, does not represent the views of the automobile home position.
Want a loan to buy a BMW? Finance programs are available for these!
Generally purchase a car loan will choose the bank loan, but in fact, in the round trip between the bank and the 4s store is also time-consuming and laborious. In fact, you can also choose the car finance company car loan, BMW car finance can provide this service, so what are the specific financial programs? Let's take a look.
Yue loan financial plan
You can choose 0%-30% flexible tail, reduce a lot of pressure on the monthly payment, the down payment ratio from 20% (new energy vehicles from 15%), the loan period can choose 12, 24 or 36 months, at the end of the period, you can pay off the tail, but also can be the amount of the tail for rollover.
YoLoan Financial Program
Minimum down payment of 20% saves you the first expense, 36-month or 48-month loan period, annual repayment ratio can be selected, to share the pressure of one-time repayment of the final balance at the end of the period, and at the same time to enjoy a lower monthly payment. Helping you to operate funds flexibly and optimize the use of cash.
Standard Smart Loan
Products covering the entire vehicle lineup, with down payments starting at 20% and loan terms starting at 24 months, monthly payments are lowered year by year, so that you can plan for your possible expenditures and alleviate future stress in advance.
Official Certified Used Car Loan
1. Standard Financial Plan: 30% down payment, 12, 24, 36 months flexible repayment term
2. Flexible Joy Loan Financial Plan: 30%-60% down payment, 24 or 36 months optional repayment term, 20%-33% flexible final payment
3. 50%, annual repayment ratio of 13%-20% of the loan amount, 24 or 36-month loan term
4. Wise Financial Plan: from 30% down payment, 24 or 36-month loan term, monthly payment can be reduced year by year.
Standard Loan
The standard loan product refers to the payment of a certain percentage of the down payment amount of the purchase amount at the time of purchase, while the loan portion is paid in the form of equal monthly payments during the loan period. This product covers the entire vehicle lineup and can meet the different choices of all customers. By making monthly payments on time, you can enjoy the pleasure of driving in advance.
Standard Flexi Loan
The product covers the whole car lineup, with a down payment of 20%-50%, a 36-month loan term, and a final payment of 40% at the end of the term, which reduces the pressure of monthly payment.
2. Extend the flexible final payment amount to the loan period and continue to enjoy the loan service.
How to get a loan when the age of the house is more than 20 years
Banks approve the loan process, usually the completion date on the real estate certificate as the main condition that affects the borrower to apply for a loan for a period of years, some banks have a policy of "house age loan for a period of years of 45 years," and those who have less than 45 years can be loaned.
So, the age of the house is greater than 20 years, as long as the loan period is less than 25, it is possible to get a loan.
The loan program is as follows:
I. The buyer needs to provide some materials, including local urban permanent residence or valid residence status, proof of marital status, with stable occupation and income have the ability to repay the principal and interest of the loan, the "Housing Sale and Purchase Contract" and the account number of the person who sells the house, the purchase of owner-occupied housing within the local district and county, the evaluation report of the second-hand housing, and so on, and have the ability to purchase a housing contract or relevant supporting documents.
Two, after confirming that the property of their choice is supported by the bank's mortgage, the buyer should learn from the bank or the bank's designated law firm about the bank's regulations on the buyer's access to mortgage loan support, prepare the relevant legal documents, and fill in the Mortgage Loan Application Form.
Three, the bank receives the home buyer submits the mortgage application related legal documents, after reviewing and confirming that the home buyer meets the conditions of the mortgage loan, issued to the home buyer agrees to the loan notice or mortgage loan commitment. The purchaser can then sign the Contract for the Pre-sale and Sale of Commercial Properties with the developer or its agent.
Fourth, the purchaser in the signing of the contract of purchase, and to obtain proof of payment, with the bank's relevant legal documents with the developer and the bank to sign a "building mortgage loan contract" to specify the amount of the loan, the term, the interest rate, the mode of repayment and other rights and obligations. The purchaser, the developer and the bank with the "building mortgage loan contract" and the purchase contract to the real estate management department for mortgage registration and filing procedures.
V. After signing the Building Mortgage Loan Contract, the purchaser shall open a special repayment account in the financial institution designated by the bank according to the contract and sign a power of attorney to authorize the institution to pay the principal and interest and arrears of the loan between the bank and the mortgage loan contract from the account.
Extended information:
Loan term: generally within twenty years, and the maturity date of the loan in principle can not exceed the age of 65 years of age of the borrower. Loan interest rates to implement the provisions of the People's Bank of China. In case of statutory interest rate adjustment, if the term is within one year, the contractual interest rate will be implemented and interest will not be charged in segments; if the term is more than one year, the new interest rate will be implemented at the beginning of the following year.
Loan amount: The loan amount is not higher than a certain percentage of the lower of the actual transaction price of the property or the appraisal price recognized by the bank. The specific ratio is determined by the local bank branch in accordance with the national housing credit policy and the creditworthiness of the borrower applicant.
Loan interest rate: Float proportionally on the basis of the commercial loan interest rate of the same grade in the same period announced by the People's Bank of China. The specific floating ratio is determined by the local bank branches according to the national housing credit policy and the creditworthiness of the borrower applicant.