Car Loan: Practical Financial Management Tips

When it comes to buying a car, many people will encounter similar confusion, whether to buy a car in full or with a loan? If you take a loan to buy a car, which way is more suitable for you? How should we reasonably arrange car loans? Full payment or loan to buy a car At present, the car loan interest rate in the auto market is maintained at an annual interest rate of 6%-10%, which is much higher than that of home purchase loans and provident fund loans. Although the loan interest rate is higher, it has the following advantages: Loan to buy a car can reduce the loss caused by inflation. In recent years, domestic prices have continued to rise, and currency depreciation has become more serious. If a loan is used to buy a car, financial institutions can bear this part of the loss. Automobiles are consumer goods, and buying a car with a loan can reduce losses due to depreciation. A new car is not a house and lacks investment properties. As a consumer product, the depreciation rate of a car in one year is about 20%. The longer the time, the greater the depreciation rate. If you pay 150,000 for a car at a time, only 70,000 yuan will be left after three years. Therefore, it is better to owe the bank first and use the funds to invest and make money. Buying a car with a loan will not affect your cash flow. It will cost a lot of money to buy a car, and a lump-sum payment may affect the liquidity of funds, which means that you may not have enough money to buy other cars for a period of time. Something needed. However, because there is no interest on borrowing money and discounts when buying a full-size car, the overall car purchase cost is lower, and it also has certain advantages: The full price of the car will enjoy a car discount. The discount range is generally between 20,000 and 50,000, depending on the total price of the car. Generally, cars with higher prices have a higher total discount, and cars with lower prices have a lower discount. This part of the discount is often not available for buying a car with a loan. There are more models available for the full purchase. As long as you are within the budget, you can freely choose the model and configuration, and the loan to buy a car is generally subject to certain restrictions in the choice of model. The full purchase of a car has the right to dispose of it freely, and the car can be sold at any time and exchanged for cash. And because the vehicle is used as collateral to mortgage the loan in the financial institution of the loan, the car loan must be paid off in advance when it is sold. The full amount of the car purchase will not be required to require additional harsh terms. The purchase of a car with a loan may require a one-time payment of the full insurance and other insurance for the corresponding period of time according to your loan period. For example, a loan for 2 years is required to pay the full cost of the full insurance for 2 years. Therefore, it is more appropriate to buy a car with full payment, if there is no large capital demand within 1 to 2 years, and there is no suitable investment and financial tool that has higher returns than car loan interest and expenses. Conversely, you can choose to borrow money to buy a car. https://www.autofun.co.id/alat/simulasi-kredit-mobil