What are the advantages of auto financing company's loan to buy a car?

The biggest advantage of auto financing loan lies in its low application threshold, simple procedures and fast handling process. The down payment is generally 20% ~ 30%, and the loan period can be up to 5 years. The advantages of auto financing loan are mainly reflected in the following aspects: application threshold, procedures and professional knowledge. Details are as follows: 1. The application threshold is lower. To apply for auto financing loan, you only need ID card, driver's license, teacher's qualification certificate, 6-month bank flow and income certificate. Bank car loans and auto financing company car loans are consistent in some basic data audit. The main difference is that banks have stricter policies on consumers' financial resources, real estate and household registration certificates, while auto financing companies are more flexible in car loans. 2. Simple procedures In terms of loan conditions, auto financing companies pay more attention to the personal credit, education, income and work of car buyers. They are all their reference standards, and they don't need to pledge like banks. Foreign household registration will not become an obstacle to obtaining loans. In addition, auto financing companies have a fast loan speed, which can usually be completed within a few days. 3. The handling of general finance is more professional, and mass finance has smart loans and flexible loans. Consumers can pay a part of the loan amount (usually not more than 25%) as an elastic balance, and pay it in one lump sum in the last month of the loan period, without calculating the monthly payment, so that the monthly payment of car buyers can be significantly lower than that of traditional credit. When the contract expires, consumers can have many choices: settle the elastic balance at one time and have full ownership of the car; Or apply for a second loan of 12 months for the elastic balance; Or, with the assistance of the dealer, replace the new car with a used car and deduct the final payment from the discount of the old car.