IN AN EFFORT TO ATTRACT USERS TO PURCHASE CARS, 4S HAS INTRODUCED A VARIETY OF PREFERENTIAL WAYS OF BUYING CARS, THE MOST POPULAR OF WHICH IS THE ZERO INTEREST PURCHASE LOAN. TECHNICALLY, THIS MEANS THAT THE PURCHASER OF THE CAR, WHILE SEEKING A LOAN, DOES NOT HAVE TO PAY ANY INTEREST. SOUNDS VERY TEMPTING, BUT IS IT TRUE? ARE THERE ANY HIDDEN COSTS

Do you have a fee for zero interest on a car loan? There's a lot to hide behind

Usually, when we apply for loans through individual financial institutions, we encounter problems with handling fees. While costs vary according to the product and platform of the loan, in many cases the amount is not significant and is often overlooked. However, the situation is different with respect to zero interest rate loans. Although such loans do not charge interest, the fees are often surprising. In order to maintain revenue, financial institutions may present the interest that should have been charged as a high handling charge. As a result, Zero interest-rate loans are quite economical on the face, but the actual costs to be paid are not substantial and may even be higher。

IT IS ALSO IMPORTANT TO NOTE THAT 4S STORES OFTEN HAVE COOPERATIVE RELATIONSHIPS WITH THESE FINANCIAL INSTITUTIONS. 4S BY RECOMMENDING A ZERO-INTEREST VEHICLE LOAN. IN ADDITION, IN ORDER TO ATTRACT MORE USERS, 4S MAY OFFER OTHER PREFERENTIAL ACTIVITIES, SUCH AS CAR ACCESSORIES. HOWEVER, IN ADDITION TO FEES, THERE ARE MANY POTENTIAL PROBLEMS WITH THIS TYPE OF LOAN。

THE VEHICLES INVOLVED IN SUCH CONCESSIONAL LOANS ARE USUALLY RESTRICTED AND NOT AVAILABLE TO ALL MODELS, AND MAY INCLUDE SOME STOCK VEHICLES. IN ADDITION, ALTHOUGH THE ZERO-INTEREST-RATE LOANS INTRODUCED BY PART OF THE 4S STORE DO NOT REQUIRE ADDITIONAL HANDLING FEES, THEY MAY REQUIRE THE PURCHASE OF FULL VEHICLE INSURANCE BY DESIGNATED INSURANCE COMPANIES, SOMETIMES WITH A LIMITATION OF YEARS。

IN GENERAL, THE SO-CALLED ZERO-INTEREST VEHICLE LOAN APPEARS TO BE PREFERENTIAL, AND IN FACT “SHELLS COME OUT ON THE SHEEP”. WHILE THESE LOANS APPEAR TO BE INTEREST-FREE, THEY COVERTLY SECURE THE INTERESTS OF FINANCIAL INSTITUTIONS AND THE 4S SHOP ITSELF BY OTHER MEANS. IF OTHER PROBLEMS ARE ENCOUNTERED IN THE PROCESSING OF CAR LOANS, IT IS RECOMMENDED THAT PROFESSIONALS BE CONSULTED。