List of loan varieties of auto financing companies

1. Conventional loans The conventional loans of auto finance companies are similar to bank car loans, with a low down payment of 20%, long term, low interest and equal monthly payments. The loan period can be up to 5 years. This kind of loan is very suitable for people with relatively stable income. 2. Flexible loans The biggest feature of flexible loans is that there is a part of the final payment. The amount of the balance varies from 50% to 20%. During the flexible loan period, the customer pays a small amount of money every month, and at the end of the period, there is a higher expected annualized expected income to pay the final payment. At the same time, with the change of economic situation, the final payment can be extended to reduce the pressure of one-time repayment. You can have three options for the final payment: a, pay the flexible final payment in one lump sum; B, second-hand car replacement, then borrow a new car; C. apply for extension of flexible balance payment. The loan period can be up to 5 years. This kind of loan is more suitable for commercial investors. 3. Leap-forward loan is a kind of auto finance loan with very fast approval speed. Usually, you only need to provide a copy of your ID card, and you can complete the loan approval within 2 hours. The term of this wealth management product is generally up to 3 years. This method is suitable for consumers who are upgrading their consumption.