If you want to buy a car, is it the most economical to apply for a loan from the bank under the condition of insufficient funds?

Insufficient funds, what should I do if I want to buy a car? Teach you the most economical way! ? Hey, you little cuties! Have you ever wanted to buy a car recently, but you ran into a dilemma of insufficient funds? Don't worry, today I want to share with you the most economical solution-apply for a loan from the bank! Come and discuss this topic with me!

First of all, let's see why applying for a loan from a bank is the most economical way. The answer is simple: low interest rate, long term! As a professional financial institution, banks have strong financial strength and a wide range of financial products. Compared with other loan methods, the interest rate of bank loans is usually lower, especially car loans, which generally have a relatively more favorable interest rate policy. Moreover, the bank can also provide a longer repayment period according to your repayment ability, so that your repayment pressure can be alleviated to a certain extent.

So, how do we apply for a loan? Don't worry, I have prepared a guide to applying for a loan:

The first step is to know your credit status. When approving loans, banks will evaluate the repayment ability and credibility of applicants according to their credit records. Therefore, before applying for a loan, you should first check your personal credit report to understand your credit situation. If the credit is good, it will be more conducive to loan application!

The second step is to choose the right banking institution. Different banks may have some differences in loan products and interest rates, so when applying for loans, it is recommended to compare the loan policies of several banks and choose a banking institution that meets their own needs.

The third step is to provide real and effective materials. When the bank approves the loan, it will ask for some necessary materials, such as personal identification, income certificate, car purchase intention certificate, etc. We need to ensure that the materials provided are true and effective and meet the requirements of the bank, so as to improve the pass rate of loan application!

Finally, I would like to remind everyone that when applying for loans, we should pay attention to reasonably controlling the loan amount and duration, and make plans according to our actual situation to avoid unbearable economic pressure caused by excessive borrowing.

Having said that, I finally want to share a little trick with you:

First, choose the appropriate loan method.

Tips: Loans should be based on their own situation, and credit loans or vehicle loans should be rationally selected.

Vehicle loans can be secured by vehicles, and the interest rate is relatively low; If you choose a credit loan, you need to issue an income certificate and a credit report, and the interest is slightly higher.

Second, accumulate down payment.

Tips: down payment plays a very important role in the process of buying a car, helping you reduce the pressure of repaying the loan later!

Suppose you plan to buy a car with a price of 200,000 yuan, the bank usually requires a down payment of 30%, that is, 60,000 yuan. So, in order to save money, remember to save the down payment.

Third, compare the loan interest rates of different banks.

Tips: the loan interest rates of different banks are quite different, and the best loan scheme can only be obtained after comparison among many banks!

Suppose you need a loan of 6.5438+0.4 million yuan, the interest rate at Bank A is 7%, and the interest rate at Bank B is 6.5%, then choosing a loan from Bank B will save about 1000 yuan.

Fourth, give priority to the loan term with low interest rate.

Tips: The loan term is another key factor that affects the amount of interest payment. The shorter the time, the lower the interest.

Suppose your loan is 6.5438+0.4 million yuan, and Bank A can choose a three-year term and a five-year term with interest rates of 7% and 7.5% respectively. If you choose a three-year term, you will pay nearly 4000 yuan less interest.

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Tips: The loan fees may be hidden expenses, so be sure to communicate with the bank!

Suppose you need a loan of 6,543.8+0.4 million yuan, and Bank A charges a handling fee of 654.38+0%, while Bank B delays repayment without paying the handling fee. Choose Bank B, and you will save the handling fee of 1400 yuan.

Six, pay attention to the provisions of extra repayment and early repayment.

Tips: In order to save money, try to choose a loan scheme without extra repayment and prepayment!

Suppose you need to repay the loan 1 1,000 yuan every month. Under the condition that the repayment period is 3 years, Bank A asked for an extra repayment of 1 000 yuan, but Bank B didn't. If you choose Bank B, you will pay 3000 yuan less for the extra repayment.

In addition to bank loans, we can also consider some loan schemes provided by car dealers and manufacturers. Sometimes, they will have some preferential policies and low interest rates, and they can have another choice other than banks.