What does it mean to buy a car with a down payment

Buying a car with a down payment should be the most attractive advertising slogan that all car owners have heard. For more cash-strapped consumers, it is irresistible to spend the least money to buy a car now. However, the 0 down payment may not be the 0 down payment that everyone imagined, but there are still many routines. If you are not careful, consumers will need to spend more money and take fewer detours. So what else do you need to buy a car with a down payment? What is the routine for car loan 0 down payment? Let's have a look. What does it mean to buy a car with a down payment

Buying a car with zero down payment is a brand-new way to buy a car. It refers to the auto loans provided by banks, auto finance companies and other institutions for specific models without down payment within a certain activity period. It has the characteristics of high loan amount and no down payment.

Application conditions for zero down payment to buy a car

1, a natural person with full capacity for civil conduct, aged between 18-60.

2. Stable income and strong repayment ability.

3. Have a local hukou and can provide proof of identity and residence.

4. There are property certificates or other financial certificates.

Application materials for buying a car with zero down payment

1. Identity cards and household registration books of both husband and wife.

2. Proof of valid income of both husband and wife.

3. Marriage certificate of both husband and wife, divorce certificate for divorced, and single certificate issued by the civil affairs bureau where the household registration is located for unmarried.

4. Property certificate:

(1) The original property ownership certificate is required for the full purchase.

(2) Purchase contract, loan contract, purchase invoice, details of house loan repayment, repayment plan and balance certificate shall be provided for loan purchase.

What else do you need to buy a car with a down payment?

0 down payment doesn't mean you can get the car without paying at all. In addition to the monthly payment, insurance and purchase tax are also required at the beginning. Take the vehicle of about 6.5438 million yuan as an example. The cost of buying insurance in the store is about 6000 yuan, and the purchase tax is about 8500 yuan. Plus the authorization fee in 350 yuan, at least 6.5438+0.5 million yuan should be prepared.

What is the routine for car loan 0 down payment?

1, raising interest rates

Many car dealers "cooperate" with lending institutions to buy cars with zero down payment, which may actually raise interest rates when implementing interest rates. Although the down payment is gone, the interest rate has increased. For car buyers, the pressure of repayment after loan is very great, and the monthly payment may be unbearable for ordinary office workers.

2. Raise the price of cars

This is also a relatively common means. The car price with zero down payment is likely to be much higher than the full car price, which is also quite uneconomical. Therefore, before buying a car with a loan, the car buyer can clearly understand the car price of the model he wants to buy and go to several 4S shops, so it can't be said that it is a loan to buy a car, so the car price is more real.

Step 3 increase the handling fee

Buying a car with a zero down payment loan will be very risky for car dealers. Nobody wants to do anything risky. If you do, there must be a certain return. Therefore, some car dealers will increase the handling fee in order to prevent and control risks. Often, the handling fee charged for buying a car with a zero down payment loan is higher than that charged for ordinary car loans.

4. Raise the insurance premium

Car owners are required to buy insurance in our store, but the insurance cost in our store is more expensive than that outside.

Step 5 cut back on gifts

Exquisite gifts such as steering wheel cover, seat cushion, reversing radar and sunshade film are not available for free, and car owners need to buy them in our store.