I believe that everyone has found a phenomenon of buying a car: now almost all car buying is to promote financial loans, "two years zero interest rate", "zero down payment", "30% down payment, driving a new car home". So the question is, is it better to buy the car in full or to borrow money? After reading these details, you will understand them all!
First of all, let's take a look at an example of buying a car with a financial loan. It can be very intuitive to find the difference between the final consumption of buying a car with a loan and buying a car in full. (all at minimum cost)
Details of financial loans
Take a car with a naked car price of 300000 as an example. The down payment is 30% of the price of the naked car, that is 90000 yuan, plus the purchase tax of 25641 yuan, 500 yuan of the licensing fee, 300 yuan of the vehicle and ship use tax, 950 yuan of the compulsory insurance fee, and 9253 yuan of various insurance fees. The total down payment is 126644 yuan, plus the monthly supply of 6427 yuan for three years, the total cost of buying a car is 358016 yuan.
Full purchase details
In the same way, let's take a look at the full purchase price of 300000 yuan, plus 27511 yuan of purchase tax, licensing fee, vehicle and ship use tax, and compulsory insurance expenses, plus 9253 yuan of various insurance expenses, the total purchase cost is 336764 yuan. It's 21252 yuan cheaper than the financial loan. Which way do you say is better?
Financial loans have advantages and disadvantages
There are certain advantages in buying a car by loan. When you want to buy a car but don't have funds, the financial loan comes. When you can't borrow money from your friends when you buy a car, the financial loan is convenient for you. When you want to buy a car and want to invest, but the funds are limited, there is no money to invest when you buy a car, waiting for a loan to buy a car is a good choice.
There are two sides to everything. Financial loans are the same. If they are good, they are bad. If there is one more loan procedure for a financial loan, you will pay more fees; and with the pressure of monthly supply, you will think about it day by day and have dreams at night; another point is that if you use the financial loan to purchase a car, it will be many days slower to pick up the car than to purchase the car in full, which makes you impatient.
What has the final say is that financial loans can only be used before buying the loan. Most of them are buying the insurance. The car buying is car buying in addition to strong insurance.
Full payment is also a double-edged sword
Many people choose to pay in full if they don't want to be in debt. Let's see what are the advantages and disadvantages of buying a car in full?
The biggest advantage of buying a car in full is that there is no interest of financial loan, which saves a lot of money to a large extent, and you don't need to worry about the monthly supply, so you can enjoy the fun of the car easily. And it doesn't need to wait for the credit approval of the loan company, which saves the time of car purchase and driving.
But full payment needs to transfer all the funds into the merchant's account at one time. Such a large amount of funds can be used for investment or in fact, we can generate money. If we use full payment to purchase a car, we will lose a great opportunity.
Summary: there are advantages and disadvantages of financial loans and full purchase of cars
In the end, what kind of car purchase method should be used or should be combined with its own economic situation. If you work stably but don't have enough funds, financial loan is a good choice, but you need to ensure that you can repay normally every month and keep a good credit; if you are rich in funds but want to apply for loans, you must choose a regular and legal loan company to avoid being cheated. For the rich, Xiaobian advised you to pay in full!