How to apply for a car loan from a 4S store? Analysis of hot topics across the Internet
In the past 10 days, discussions about car purchases through 4S store loans have continued to rise. Young people, in particular, are paying more attention to car purchase methods with low down payments and flexible installments. This article will combine the hot spots across the Internet to provide you with a detailed analysis of the 4S store loan car purchase process, precautions and the latest industry data.
1. The basic process of buying a car with a loan from a 4S store
Buying a car with a loan is mainly divided into the following 6 steps:
| step | Specific content | Materials required |
|---|---|---|
| 1. Choose a car and order a car | Determine the model, configuration and color | Copy of ID card |
| 2. Submit application | Fill out the loan application form | Proof of income, bank statement |
| 3. Qualification review | Bank/Financial Institution Review | Credit report (some are required) |
| 4. Sign a contract | Loan contract + car purchase contract | down payment receipt |
| 5. Apply for mortgage | Vehicle registration certificate mortgage | Car purchase invoice, insurance policy |
| 6. Pick up the car | Complete vehicle inspection procedures | provisional license |
2. The latest hot spot data for loan car purchases in 2023
According to recent statistics from major platforms:
| Data dimensions | numerical value | Year-on-year change |
|---|---|---|
| Proportion of car purchases with loans | 62.7% | ↑3.2% |
| average loan term | 36 months | Extended by 4 months |
| Minimum down payment ratio | 15%-20% | Same as last year |
| New energy vehicle loan rate | 71.5% | ↑12.8% |
3. Three hot issues you must know when applying for a loan
1.Changes in credit reporting requirements: Many banks have recently adjusted their policies, and the pass rate for credit scores below 600 has dropped by 23%.
2.interest rate fluctuations: The average annual interest rate since August is 4.5%-6.8%, up 0.5-1 percentage point from the first half of the year
3.Hidden fees: GPS fees (about 1,500 yuan), financial service fees (1%-3% of the loan amount) and other additional fees have become hot spots for complaints
4. Comparison of loan options that are hotly discussed across the Internet
| Plan type | Advantages | Disadvantages | Applicable people |
|---|---|---|---|
| Manufacturer finance | Low interest/no interest | Strict approval | quality customers |
| bank installment | Interest rate transparency | Cumbersome procedures | homeowners |
| finance lease | Lowest down payment | High total cost | short term car |
5. Professional advice: How to avoid loan traps
1. Confirm"Comprehensive annualized interest rate"Rather than monthly interest rate, avoid being misled by word games
2. Request the 4S store to issuedetailed list of expenses, the law clearly stipulates that unknown fees are not allowed
3. Pay attention to the contractEarly repayment terms, some institutions will charge a penalty of 3%-5% of the remaining principal.
4. Preference is given toFiling with the China Banking and Insurance Regulatory Commissionfinancial institutions and avoid informal channels
Recently, consumer associations in many places issued car loan warnings, specifically reminding people to be wary of the "zero down payment" promotional trap. In fact, zero down payment still requires payment of purchase tax, insurance and other expenses, and the loan amount cannot exceed 80% of the actual selling price of the vehicle.
It is recommended that you check your personal credit report for free through the official website of the Central Bank's Credit Reference Center before buying a car, and keep your business records 1-3 months in advance, which can effectively increase the loan approval rate. If you encounter forced bundle sales, you can keep the evidence and file a complaint to 12315.
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