Nowadays, as people’s demand for car purchases increases, the promotion of loan purchases can be seen everywhere, and even some lending institutions put forward slogans such as “zero interest” and “zero fee”. These loan promotions look very attractive, but do they really have such a big discount?

Loans to buy cars need to be carried out according to certain procedures, such as determining how much money they have, what kind of car they want to buy, how much they can afford, and so on. Because when applying for a loan to buy a car, individuals must first prepare a down payment, plus taxes, insurance, etc., all of which need to be thought ahead. For example, if you want to buy a car with 100,000 yuan, you need to prepare 30% of the first payment, that is, 30,000 yuan, plus other expenses, to be nearly 50,000 yuan.

After calculating the above fees, it is time to apply for a loan. This is also the time when problems are most likely to arise. Here, Ping An Pratt & Whitney reminds car buyers that applying for a loan must not be blind. In particular, they should not only listen to the lending organization's propaganda, but must learn more about the relevant terms. For example, some lending institutions offer so-called “zero interest” services in order to attract loans from car buyers. At first glance, these loans are indeed very affordable. After careful consideration, it may not be so cost-effective.

"Zero interest" car loans generally appear in 4S shops and provide loans through auto finance companies. This type of loan is first restricted by brand or car model, and it is not that you can lend it when you want to lend it; secondly, there may be other trickery hidden behind “zero interest”. Some 4S stores have reduced or increased interest rates, but have increased or increased other expenses, such as so-called handling fees. Sometimes these fees are higher than the loan interest, which is a clear trap for car buyers. In addition, when you borrow a car, you may also encounter bundled sales, and the forced purchaser purchases a certain insurance. All these are issues that need attention.

What should we do if we don’t spend these money? Ping An Pratt & Whitney suggests that car buyers can change the idea of ​​a loan, that is, buying a car after lending. For example, you can apply for a full amount of consumer loans through Ping An Pratt & Whitney, and then use the money to buy a car. The advantage of doing so is to be able to avoid all sorts of tricks in car loans and prevent them from falling into traps. Moreover, it is easier to apply for a loan first. For example, Ping An Pratt & Whitney greatly simplifies the loan process and reduces the loan conditions with the help of financial technology. At the same time, the loan products have detailed descriptions, and there are no hidden charges.

Although loans and purchases of cars are a trend, there is a lot of lending to learn. Car buyers need to carefully measure and understand the details in order to spend less money and avoid falling into a loan trap.

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