First of all, compared with banks, auto financing companies have a much lower threshold for handling cars, and usually have looser requirements for borrowers, more flexible loan methods and faster loan speed. However, it should be noted that there will be certain restrictions on the choice of models.
Secondly, the loan period for auto financing companies to handle auto loans is usually long, up to five years, and borrowers can apply for loans with only a down payment of 30%.
Finally, when a borrower applies for a car loan in an auto financing company, it usually does not need the borrower to provide any guarantee. As long as the borrower has a stable job and income, strong repayment ability and good personal credit, he can apply for a loan and pick up the car as soon as possible.
2. What are the well-known auto financing companies in China?
Car buyers can choose auto financing companies to handle car loans. When car buyers apply for car loans, they should weigh the expected annualized interest rate of loans, loan speed and other factors. Compared with small auto financing companies, big and well-known auto financing companies are more trustworthy for car buyers.
Top Ten Auto Finance Companies in China
1 Beijing Hyundai Motor Finance Co., Ltd.
2 Mercedes-Benz Auto Finance Company Limited
3 Chongqing Automobile Finance Co., Ltd.
4 FAW Automobile Finance Co., Ltd.
5 GAC Huili Automobile Finance Co., Ltd.
6 Ruifude Automobile Finance Co., Ltd.
7 SAIC General Motors Finance Limited
Volkswagen Finance (China) Co., Ltd.
Toyota Motor Finance (China) Co., Ltd.
10 Shenlong Automobile Finance Co., Ltd.
3. Introduction of auto financing company loans:
CreditEase-Cheyi Loan is a loan provided by CreditEase Pratt & Whitney Information Consulting (Beijing) Co., Ltd. for car buyers. It has the characteristics of no parking, 0 expected annualized interest rate and high quota (up to 500,000).
Xinhe Huijin-Cheyi Loan is an automobile loan product of Xinhe Huijin Information Consulting (Beijing) Co., Ltd., which provides mortgage and mortgage loans for car buyers.