Joke Collection Website - Mood Talk - Is car loan a scam? Car loan scam
Is car loan a scam? Car loan scam
Borrowing money to buy a car is the practice of many consumers now. Then, buying a car with a loan actually costs more than the full amount. In fact, this is some "traps" for buying a car with a loan! So what are the pitfalls of buying a car with a loan? I hope everyone can have a look.
Handling fee: Maybe people who borrow money to buy a car know that many loan methods are interest-free loans, but is this really the case? In fact, there will still be a certain handling fee, which is a way for 4S shops to make money, but the handling fee and interest rate are not much different.
Compulsory auto insurance: It is estimated that many consumers have encountered it, that is, some auto insurance is obviously unnecessary, but the car shop has forced it on you. This is also to obtain a certain profit, which is also one of the conditions of the loan. You still have to do it, so read the insurance policy carefully.
Original price: Some financial institutions may give you loans that are really interest-free, but in fact, there is no preferential car price at the original price, so you can only buy a car at the original price, that is, a car bought at 654.38+0.7 million, and an extra fee of one or two thousand. It's too pit.
Of course, loans are not all bad. Only you have enough money to buy a car, I suggest you buy it in full. If you don't think it is necessary, you can also choose a loan. This is your personal preference.
What is a car loan? What are the pitfalls of buying a car with a loan?
What is a car loan?
Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new type of loan issued by banks to car buyers who buy cars at their special dealers. The interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal of a car (non-profit family car or commercial vehicle for 7 years or less) that the bank buys for the consumer, that is, the borrower. The higher the interest rate, the greater the repayment amount of consumers.
The borrower must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.
The term of automobile consumption loan I is generally 1-3 years, and the longest is no more than 5 years. The loan period of second-hand car loan (including extension) shall not exceed 3 years, and that of dealer car loan shall not exceed 1 year.
According to the regulations of the central bank, the benchmark interest rate is implemented for auto loans, but financial institutions can float within a certain range of the benchmark interest rate. The term of auto loans in major banks is generally less than five years, and the interest rate of auto loans directly determines the cost of people's loans and becomes an important factor in determining whether people lend.
Several pitfalls of buying a car with a loan
0 1 When we borrow money to buy a car, we must go to a formal institution or find a special way to borrow money to buy a car. Don't trust strangers or street propaganda casually. Generally, there will be some small or big deception in street advertisements.
Under normal circumstances, there is still a problem with car loans, that is, insurance. At this time, the insurance cost will be particularly high, and it is generally bought by insurance companies. Everyone must pay special attention.
When buying a car with a loan, be careful not to have a second mortgage. So you should be familiar with every process of the loan to avoid being cheated by others' second mortgage.
In the process of handling automobile mortgage, car buyers may encounter unsuccessful or delayed approval. If they want to cancel their subscription at this time, some dealers refuse to refund the deposit. Therefore, it is best for buyers and sellers to negotiate in advance.
Is it reliable to buy a car with zero down payment loan? Most pies have become traps!
In recent years, more and more people buy cars. Many people are short of money when they dream of driving home. What shall we do? It is a general trend to buy a car with a loan. Many people want to borrow money to buy a car, or even zero down payment. So is it really reliable to buy a car with zero down payment? What's the catch? Let's take a look.
What's wrong with buying a car with a zero down payment loan?
In fact, criminals really pretend to be auto financing companies under the guise of buying a car with zero down payment. Generally, bank loans only provide 70% loans, while the so-called auto finance company will pay you 30% down payment.
When you go to pick up the car, take it away on the grounds of installing GPS or going through formalities. During the period, the car was pushed off with the requirements of "unfinished procedures" and "GPS installation". When you received the short message of repayment from the bank, the "auto financing company" could not be contacted, and the building was empty, but your new car was sold.
How to prevent the scam of buying a car with zero down payment loan?
These scams often use the mentality of being in urgent need of funds to implement loans, and there are extremely harsh conditions when signing contracts. In order to avoid this scam, we need to do the following two things:
1, don't be greedy and cheap. Generally, the zero down payment loan on the market will charge you in other ways, and the loan interest will be higher, which is actually not cost-effective.
When signing a contract, you must read the terms of the contract carefully. Before handling the "zero down payment", the company signed a harsh entrusted mortgage contract with the victim by means of shielding and deception, which led to his entry.
About "Is it reliable to buy a car with a zero down payment loan?" Here is an introduction for everyone. I hope to arouse everyone's vigilance, don't trust the so-called financial institutions easily, and choose a compliant channel to make loans.
What are the scams of car loan?
In recent years, with the increasingly hot financial market, more and more car owners have borrowed money to buy cars. Moreover, there are various preferential policies for car loans, such as zero down payment, zero interest rate and so on. However, buying a car with a loan is not as simple as you think. As the saying goes, "it is better to buy than to sell", but some seemingly good preferential policies are hidden and "deep pits". If you are not careful
What are the scams of car loan?
In recent years, with the increasingly hot financial market, more and more car owners have borrowed money to buy cars. Moreover, there are various preferential policies for car loans, such as zero down payment, zero interest rate and so on. However, buying a car with a loan is not as simple as you think. As the saying goes, "it is better to buy than to sell", but some seemingly good preferential policies are hidden and "deep pits". If you are not careful, you will be caught.
What pits are there in car loan?
1. Most down payment is a scam.
Deception is to use "zero down payment" as a gimmick to lure customers to take the bait, and then defraud them to finance with vehicle mortgage loans, while withholding the car purchase money. When you realize that you have been cheated, you will eventually find that your car is gone and you have a large bank loan on your back. In fact, the minimum down payment for new car loans is 20%, and new energy vehicles can be as low as 1.5%. The down payment for buying a car is not in line with the regulations at all.
2. Charge interest under various pretexts.
Behind the 0% interest rate, some manufacturers directly lend car buyers a discount in order to promote sales, which is no problem. But some people pass the interest on to other expenses. There are many ways to inherit, and there are several common means: the car price is high, and the discount range of the car is obviously smaller than that of other 4S stores; Fees, deposits, assessment fees, examination fees and other items add up to more than ordinary interest.
Do you want your deposit back?
What are the disadvantages of car loan?
With the rise of car loan in society, most people will apply for mortgage to buy a car. What are the disadvantages of car loan? Take the familiar bank loan as an example: the application threshold of the bank's automobile consumption loan is high and it is difficult to apply. To apply for a car loan from a personal bank, you need to provide a series of proof materials, and you also need a car dealer or a third party to guarantee and pledge.
However, bank car loans have many advantages, such as: consumers can choose in the air, no matter what brand or model they buy, they can apply for bank loans, and the repayment method of bank loans is flexible. At present, the bank car loan interest rate is the benchmark interest rate of the People's Bank of China, which is generally lower than the loan interest rate of auto financing companies and can enjoy the preferential treatment of auto dealers. To apply for a car loan, the following conditions must be met: (1) The car buyer must be a China citizen who has reached the age of 18 and has full civil capacity. (2) Car buyers must have a stable job, a stable economic income or assets that are easy to realize before they can repay the loan principal and interest on schedule. The realizable assets here generally refer to securities, gold and silver products, etc. (3) During the loan application period, the car buyer will deposit the down payment for car purchase lower than that stipulated by the bank into the bank savings counter account. (4) Providing banks with bank-approved guarantees. If the personal account of the car buyer is not local, it is necessary to provide joint and several liability guarantee, and the bank does not accept the mortgage set by the car buyer with the loan. (5) Car buyers are willing to accept other conditions deemed necessary by the bank. What are the pitfalls of car loans? What are the disadvantages of auto loan @20 19?
Is it true that it is said that the loan to buy a car is a pit?
With the continuous development of economy, it can be said that many people's consumption concepts have changed greatly. It is common to borrow money to buy a house, a car and big items. Many people say that borrowing money to buy a car is a pit. What are the precautions for buying a car with a loan? Let's talk about the pitfalls and precautions of buying a car with a loan.
First, the loan cannot be repaid and the deposit is not refundable. Generally speaking, after we choose a car, the dealer will ask us to pay a part of the deposit first. Speaking of deposit, if you don't buy a car, you must discuss with them in advance how and when to pay it back.
Second, don't be ashamed to borrow money to buy a car. You should know how to do what you can. Many friends will choose to borrow money to buy luxury cars to save face, even if they don't have enough ability to afford this repayment. The consequence of this is that the pressure of life in the future is getting bigger and bigger, and life is quite embarrassing except for the so-called face.
Third, being asked to borrow money to buy a car requires going to a designated place to buy insurance. Loans to buy a car are often signed in advance, and one of the contracts may be assigned to his designated insurance.
This company is insured with car insurance. At this time, you should pay more attention, read the terms clearly before signing the contract, and then negotiate to solve it.
Fourth, repay the loan on time. Loans are related to personal credit information. If you don't repay on time, you will leave a bad credit record, which will have a great impact on the bank credit line in the future. Therefore, if you want to borrow money to buy a car, at least make sure that you can repay the loan on time.
Fifth, the zero interest rate trap. Many times, in order to attract consumers to buy cars, dealers will launch zero interest rate activities. This zero interest rate actually requires you to pay according to the manufacturer's guide price and no longer enjoy other preferential policies. So this combination is not necessarily cost-effective.
The above points let us pay attention to when we borrow money to buy a car. I hope they can help you.
Is there an interest-free loan for car loans? Don't be blinded by interest-free loans.
More and more friends want to apply for car loans, especially many banks have interest-free loans to buy cars, but many online lending institutions are also involved. Many friends are asking if there is an interest-free loan for car loans. Is there really an interest-free loan for buying a car? I'll give you a summary today.
1. What does it mean to buy a car with an interest-free loan?
Interest-free loan refers to a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them, in which the interest rate is provided by banks free of charge or paid by the government or corresponding institutions under agreed conditions.
Buying a car with interest-free loan means that the lender makes a loan for the purpose of buying a car, and the loan does not need to pay interest.
Second, the conditions for buying a car with interest-free loans
1. China citizens with permanent residence, local permanent residence or valid residence certificate in China and full capacity for civil conduct.
2. Have a proper occupation and a stable source of income, and have the ability to repay the loan principal and interest on schedule.
3. Abide by laws and regulations, and have no illegal acts and bad credit records.
4. Being able to provide effective rights pledge or collateral or a third-party guarantee with compensatory ability.
5. If it is an "individual" loan, you also need to hold a car purchase agreement or a car purchase contract signed with a special dealer.
6. Open a personal settlement account with the loan bank, and agree that the bank will deduct the loan principal and interest from the personal settlement account designated by it.
3. Is there really an interest-free loan for car loans?
There are interest-free loans for car loans, and all major banks have interest-free loans for car purchases. But many online interest-free loans to buy a car are scams. The main scams are:
1. Car loan is interest-free, but it requires a high handling fee.
2. Car loan is interest-free, but car insurance is compulsory.
Car loan is interest-free, but you can't enjoy preferential price.
4. The car loan is interest-free, but you have to buy expensive car accessories.
The above is the relevant answer about interest-free car loan, and I hope it will help everyone.
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