He should consider what you do with the loan. The credit score is very low and the interest will be high. The specific maximum depends on the bank or economic company you contact.
How can the United States borrow money to buy a car if its credit is not enough?
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Do I need a green card to apply for a car loan in the United States?
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Buying a car with a loan in the United States is generally divided into two situations: buying a car with a credit history and buying a car without a credit history. If you have a SocialSecurityNumber (SSN), you can apply for a credit card, and you can have a credit history of half a year. Pay attention to the repayment on time, apply for one or two more credit cards gradually, and then you can apply for a car loan at the dealer in another year to a year and a half.
Can I buy a car in the United States with China's credit card? Is there a handling fee for the full amount?
There is no handling fee, but you can't buy a car with a credit card. Last time I went to buy a car, I could only use a credit card of $5,000. You can use cashier's check or cash check, preferably a personal check from Bank of America. Cash is not accepted.
Do you really understand "car down payment 10%"?
"10% down payment to buy a car" and "zero down payment to buy a car" ... I believe many people have seen such advertisements when building elevators or online. Buying a car with low down payment or even zero down payment greatly lowers the threshold for buying a car, which is full of temptation, but is it really a pie? What is the difference between "car purchase 10% down payment" and ordinary loan car purchase? Is the cost low or high? What are the risks in the business process? In this article, let's take a look at the commercial essence of "10% down payment to buy a car".
Times are changing, and people's thinking is also changing. A few decades ago, the general idea in China was to buy a car in full with money, but not without money. Few people can accept a loan to buy a car. Nowadays, with the rapid development of Internet finance and the high penetration of inclusive finance, people's understanding and acceptance of financial products are quite different. Don't say that large purchases such as buying a car will take the form of loans. Many young people tend to solve the problem in stages even if they buy a mobile phone, rent a house or travel.
Compared with buying a car in full, buying a car with a loan can better meet two needs. First, it can meet the "just-needed" demand, that is, there is no car under the name, and it is necessary to buy basic funds to solve traffic problems, and the funds at hand are insufficient. At this time, the loan to buy a car is the only choice; The second is to meet the "improvement demand". The funds on hand are only enough to buy low-priced ones in full. With a loan, you can pursue a higher configuration and even a more luxurious brand.
The essence of "10% down payment to buy a car" is not "buying"
Many advertisements buy a car under the banner of "10% down payment". Some advertisements may be obscure and do not use the words "buy" or "buy", but few advertisements directly point out the commercial nature of "10% down payment", which is not buying but renting. The essence of the so-called "10% down payment to buy a car" is the car financing lease business.
What is car financing lease? Special car refers to the trading activity that the lessor purchases the vehicle designated by the lessee from the dealer designated by the lessee according to the lessee's application, and transfers the ownership, use right and income right of the vehicle to the lessee under the condition that the lessee pays the rent.
To put it simply, auto financing lease is a form of car purchase in which consumers first obtain the right to use and possess the vehicle through "purchasing by rent", then pay the rent every month and obtain the ownership of the vehicle after the lease expires. From the mode point of view, it is mainly divided into two modes: direct rent and leaseback. No matter which mode, during the lease period, the ownership of the vehicle belongs to the leasing company, that is, the vehicle on the driving book is registered in the name of the leasing company.
At present, the "10% down payment" in the market is mostly direct rental business. According to the common business model, consumers pay about 10% down payment, go through the formalities of picking up the car, pay the agreed rent every month in the first year, and then transfer the ownership at the end of the year. The transfer can continue to be purchased in installments, or the balance can be settled at one time.
The difference between "10% down payment to buy a car" and ordinary loan to buy a car
In terms of business essence, financial leasing is rent, and loan to buy a car is a loan. Financing is a tripartite contract, and two contracts need to be signed. Consumer credit refers to the signing of contracts between borrowers and lenders.
The application threshold is different. Buying a car by loan generally requires the loan applicant to have a stable job and income source and good personal credit information, such as applying for a bank car loan, and some require the lender to provide guarantee or mortgage; However, the threshold of financial leasing business is relatively low, and some customers who cannot apply for car loans can choose to apply for financial leasing business. In addition, the number of cars is different. In financial leasing, the ownership of the car belongs to the lessor, while in car loan business, the ownership of the car belongs to the consumer.
From the details, the source, price and follow-up maintenance cost of financing lease and loan car purchase are different. Loans to buy a car generally go through the 4S shop channel, and the sources of 4S shops mostly come from automobile manufacturers; In the financial leasing business, the vehicle source is purchased by the lessor in the designated channel according to the lessee's requirements, and the designated channel is often the lessor's cooperative dealer, not limited to 4S stores.
In terms of car maintenance, the car maintenance cost after the loan purchase is borne by the car buyer himself; In the financial leasing business, the car maintenance expenses that are still in the lease period are borne by the lessor, that is, the leasing company.
Who is suitable to choose "10% down payment to buy a car"?
Car financing leasing business is relatively new in China, and its business penetration rate is much lower than that of developed countries such as Europe and America. The penetration rate of financial leasing in new car sales in the United States has exceeded 30%, while the penetration rate of domestic financial leasing is only 3%-4%, and there is still a lot of room for development.
I asked a few friends around me who have plans to buy a car, mainly the working class after 80 s and 90 s. Most of the opinions are "buying a car through financial leasing, the ownership of the car does not belong to me, and there is no sense of security" "Some people who don't own it are afraid to drive, and it will be more troublesome if they crash" "I feel ashamed to buy a car like this" and so on. However, some friends are willing to choose this way to buy a car. "The budget is not much, but you have to use the car. This way is very convenient and the choice of vehicles is very wide. Brands such as finidi and Lexus can also be considered. "
The car financing leasing business has obvious advantages and is suitable for the following groups:
Calculate, how much is "10% down payment to buy a car"?
What is the total cost difference between financing, loan to buy a car and a full-price car? We might as well calculate an account, which is more intuitive. Take "Audi A4L 20 19 40TFSI Fashion Country V" as an example, the manufacturer's guide price is 335,800 yuan, plus purchase tax, license fee, vehicle and vessel use tax, first-year compulsory insurance, etc. And the full car purchase cost is about 3,665,438+0.5 million.
Generally speaking, the cost of car financing lease is generally higher than the cost of buying a car with a loan.
What are the risks of "buying a car 10% down payment"?
Although car financing lease can enjoy the convenience of low down payment and easy application, we should fully understand the business operation mode and pay attention to risk prevention in the actual process. When handling auto financing leasing business, we should pay attention to the following potential risks:
1. According to the Contract Law and other relevant laws and regulations, in financial leasing, if the lease item does not meet the agreement or the purpose of use, the lessor shall not be liable, except that the lessee relies on the lessor's skills to determine the lease item or the lessor intervenes in selecting the lease item. Therefore, in the case of consumers choosing their own cars, if the cars are defective, consumers cannot advocate rent reduction or rent-free.
2. During the lease period, the ownership of the vehicle belongs to the lessor, that is, the leasing company, and the consumer only enjoys the right to use the vehicle. The leasing company owns the ownership of the vehicle, that is, the leasing company has the right to exercise the possession, use, income and disposal of the vehicle. Once the consumer breaches the contract, the leasing company has the right to take back the vehicle and ask the consumer to bear the liability for breach of contract. In reality, similar phenomena occur from time to time, such as consumers' default and the seizure of cars by leasing companies.
3. When the leasing institution is enforced by the judicial authorities, the vehicles leased by consumers are at risk of being sealed up, detained and auctioned.
4. The risk of high rental cost. Because financial leasing is not a loan business, there is no relevant industry agreement and supervision on the rent collection standard, which leads to the high rent of some auto financing leasing companies, and the rent rate of many financing leasing companies is equivalent to 10%- 18%, or even higher.
In order to prevent risks in car financing leasing, the editor has the following suggestions:
1. Choose a regular large car rental platform for business. Pay special attention when choosing a car model and picking up a car offline. Check the car several times before you confirm to pick it up.
Second, when signing the lease agreement, we should clearly see the terms of breach of contract, question the more demanding terms or give up the transaction. Once the agreement is signed successfully, it is necessary to strictly perform the contract and repay the loan on time during the subsequent lease period.
Third, in addition, don't take advantage of convenient conditions such as low down payment to handle high-rent leasing business and bear unnecessary losses. In short, we should keep our eyes open, calculate more than more, and choose the best financial car purchase plan.
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Can I pay my car loan by credit card every month in America?
You can't.
Credit cards can't repay loans. Credit cards can't be directly used to repay loans, because it is a cash-out behavior and a taboo for banks. Once this behavior is discovered, the card will be directly locked and blacklisted, and it will be very difficult to apply for a card or loan in the future. However, you can withdraw money directly from your credit card, or you can repay it by transfer. Both methods are allowed by the bank.
The introduction of American loan to buy a car credit and American loan to buy a car ends here. I wonder if you found the information you need from it?