It is true to apply for a special loan from a finance company, and the loan charges 14% service fee. The intermediary said that it is unreasonable to give special approval to the bank and manage the fee after receiving the loan. As long as the information is complete and there is no problem with the credit investigation, you can go through the normal approval process and pass the approval. However, if the intermediary can succeed and solve the urgent need, it is normal to pay a little interest. Intermediaries can cooperate with banks through certain channels, and it is also possible to handle this matter relatively quickly, so they need to charge a certain service fee, but it is unreasonable for the service fee to be too high.
Advantages and disadvantages of Fuzhou auto finance company's loan to buy a car
With the improvement of living conditions, everyone wants to own their own car. In Fuzhou, buying a car with a loan is the most common way. Some people will borrow money from banks to buy cars, while others will borrow money from auto financing companies to buy cars. So what are the advantages and disadvantages of getting a loan from an auto financing company to buy a car? Give everyone a little cleaning.
First, advantages
1, the program is simple and quick.
If you apply for a loan from an auto financing company to buy a car, the whole procedure is very simple and fast. As long as you have a fixed occupation and residence, you can apply for a loan from an auto financing company to buy a car without guarantee. Usually, auto financing companies pay more attention to personal credit and education, rather than needing all kinds of information or collateral like banks.
2. Diversification of repayment methods
Different from bank consumer loans, auto financing companies generally have two loan methods: standard credit and flexible credit, which can be suitable for different consumer groups and make repayment methods more flexible and diverse.
3. Lending speed is relatively fast.
It's faster to buy a car with a loan from an auto finance company, and it usually takes several hours to several days to get the loan.
Second, shortcomings.
The expected annualized interest rate and handling fee are higher.
Buying a car with a loan from an auto financing company is expected to have a relatively high annualized interest rate and handling fee. Even if it is repaid in advance, there are certain restrictions. If it is to be repaid in advance, it may be necessary to pay the corresponding liquidated damages.
Do I have to pay a loan fee to buy a car? Its own interest rate is very high.
The handling fee must be paid. Car loan fees include performance bond, notarization mortgage fee, credit investigation fee, installment fee, etc. However, there is no uniform standard for handling fees, and the regulations on car loan handling fees are different from family to family.
1.4S stores and state-owned stores do not charge handling fees. Most 4S stores have cooperation agreements with banks, which are guaranteed by 4S stores or third-party companies to help consumers borrow money from banks. State-owned enterprises can guarantee those who have checked the fees themselves; Private enterprises need to find a third-party company to guarantee. Third-party company guarantees require handling fees, and most of them need to be mortgaged with real estate.
2. The loan procedure through financial companies is expensive. "If you borrow from an auto financing company, you will generally charge a handling fee of 10%. Various brands use different names, but the total cost of various projects is almost 10%, and the interest rate is the same as the bank loan interest rate.
3. Bank consumer credit needs real estate mortgage. There will be a series of expenses such as evaluation fees when mortgage loans are made.
According to the way people buy a car loan, there are roughly three kinds of handling fees:
1, bank loan interest
Bank car mortgage loans, different banks and loans with self-checking limits, the interest rate is different. The benchmark interest rate of 3-year loans is 6. 15%, and the actual loan interest rate is usually higher than the benchmark interest rate, most of which have checked themselves on the benchmark.
2. Credit card fees
If you buy a car by installment with a credit card, there is no loan interest, but there will be an installment fee (except for a few designated models). Different banks have different credit card installment fees, and the payment methods of credit card installment fees include one-time payment and installment self-inspection. General 12 total cost is above 10%.
3. The others have been self-checked.
Some car loans need to be secured. If it is guaranteed by a guarantee company, it is generally necessary to pay a certain deposit, which generally costs several thousand yuan. If the borrower repays the loan on time, the guarantee company can refund a certain amount of deposit as agreed. If you use real estate as a mortgage loan, there will be real estate assessment fees, mortgage registration fees and other fees.
In addition, whether it is car loan or credit card installment, if it is handled through a car dealer, it may be necessary to pay a certain agency fee to the dealer.
Is it legal for borrowing companies to charge high service fees?
Illegal, it is illegal for the borrowing company to charge a high service fee. China has clear regulations on the loan platform, and the annual interest rate of loan products should be lower than 36% except repayment of principal. Moreover, the loan platform may not raise the loan interest rate for any reason, including setting up insurance and charging service fees. Therefore, if the lender encounters the behavior of charging high service fees and refuses to repay, it will be implemented.
Is it legal for loan companies to charge high fees in loans?
Borrowing companies cannot charge high service fees. Borrowing companies like this are very afraid of going to court if they don't know these things before borrowing. However, after the loan, these loan companies have forced everyone to pay high service fees, so they must choose to call the police. Many people have just borrowed thousands of dollars. And this service fee is more than the money I borrowed, which is also impossible. Generally speaking, in addition to interest, follow-up fees need to be paid, that is, someone leads to overdue. Like many formal platforms, if the borrower is overdue, there will be overdue fines.
It must be reasonable and legal for the contract, and the issue of extra charges is definitely out of the question. There are certain routines. For example, if the bank gives you 80,000 yuan, if you don't give the intermediary a benefit fee, people won't do it for you. You can't do it yourself without this way, but once you have to let the intermediary handle it and sign the contract because you are in urgent need of money, it means that you agree, so the contract will take effect, even if people charge you money. However, if Party A can come up with the contract, you can only pay back the money, and it is useless to find anyone. So be sure to ask clearly before signing any contract, and don't be too hot-headed, and it will be too late to regret it later.
First, it will lead to a decline in your personal credit information. Personal credit information refers to the activities of personal credit information institutions established according to law to collect and process personal credit information and provide personal credit information inquiry and evaluation services according to users' requirements. If you don't pay back the money you owe the bank, your information will be uploaded to the credit information system. General financial institutions will inquire about your personal credit information when handling loans and credit cards. If your credit rating is low, it is easy to be rejected when handling credit cards and loans. Small ones will affect your credit card limit, while large ones will prevent you from making commercial loans or mortgage loans.
Second, all your assets will be frozen, and you will be listed as an executor of bad faith, that is, "Lao Lai" will enforce the deposits, stocks, vehicles, land, real estate and other real estate of the executor, restrict high consumption and restrict entry and exit. Once enforced, not only will your deposit be forcibly deducted, but all your subsequent income will also be forcibly frozen and deducted. Even your pension and your spouse's property will be enforced.
Third, you will be arrested by the bank for breaking the law. If you lose the lawsuit, you will not only be fined, but also face jail.
Is there a handling fee for the loan to buy a car?
It is reported that at present, the handling fee of bank auto loans is 3%, while the handling fee standard of auto financing institutions and 4S shops with convenient approval is relatively high.
Generally speaking, the loan to buy a car requires vehicle mortgage, insurance and other procedures, so the handling fees included in the loan to buy a car are mainly compulsory insurance, vehicle and vessel use tax, commercial insurance, licensing fees and so on. In terms of commercial insurance, there are no relevant mandatory regulations, but 4S stores often require car buyers to buy them.
If you want to know how appropriate this handling fee is, you can inquire about some different brands of cars when you buy a car and see how their handling fees are charged, so that you can know the local market. Next, according to experience, if you use a car with a loan of about 654.38+10,000 yuan, the handling fee is about 300-5,000 yuan, and if you use a car with a loan of 20.3 million yuan, the loan amount is also more than 1.5 million yuan, generally speaking, it is about 60-8,000 yuan (the above is the average level, which fluctuates according to the actual situation of local car purchase);
For the question of cost, you must inquire in advance, not only to ask the staff of 4s shop, but also to know more about relatives and friends. Don't trust 4s stores too much. Some expenses are actually collected by themselves. Some 4s stores provide both interest and handling fees, some only provide interest without handling fees, and some only provide handling fees without interest. We must distinguish between them.