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What is auto finance company loans? What are the advantages and disadvantages

      at present, the field is a common phenomenon in the form of car loans auto finance companies lend directly, GM, Toyota, Volkswagen and Ford all have their own auto finance companies, consumers can directly through car dealerships to auto finance company to apply for a loan.
advantages: faster approval process
auto finance company loan to buy a car easier than bank loans, property identification and proof of income.
a short approval process, the fastest car of the day. Followed by flexible modes of repayment, loans provided by auto finance company interest rates depending on the loan term, and also according to buyers down payment of, interest rate adjustment. General rule is: the higher the shorter loan term, down payment, loan interest rates lower.
cons: high loan interest rate
high repayment rate compared to other ways, General lending rate now stands at more than 9%. Also, selection of auto finance company loans, unavoidable in the 4S shop of car loan to buy car insurance, and 4S shop auto insurance tend to have higher insurance prices alone. In addition, the selection of auto finance company loans, price concessions and preferential interest rates can not have both.

 

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