The 4S shop’s promotion promise of ＂zero down payment for car purchase＂ is illegal and illegal.
Zhengzhou, Zhengzhou, July 24 th (Henan Taiwan reporter Zhou Wenru) According to the Voice of China News Night, "the car loan is zero down payment, and the car drives home". You can drive the car home without spending a penny. Such a "good thing" sounds really tempting. But is there really such a free lunch? In the end, Mr. Xu from Zhengzhou, Henan Province met a businessman who promised to pick up the car with zero down payment. So did he really buy the car without spending a penny? Is buying a car with zero down payment a "pie" or a "trap"?
At the beginning of this year, Mr. Xu, a citizen of Zhengzhou, took a fancy to a car in an automobile sales company in the North Ring Road of Zhengzhou. Mr. Xu said that he chose to buy a car in this sales company precisely because the merchant promised to pick up the car with "zero down payment". According to the regulations, Mr. Xu also paid a deposit of 10,000 yuan. The company promised that the rest of the money would be paid in advance by the company. After picking up the car, he would handle the second loan for Mr. Xu. After deducting the expenses, he could drive away.
After paying the deposit, Mr. Xu waited at home for the car sales company to go through the car installment payment procedures, and then picked up the car, but there was no news from the left and right. Mr. Xu went to the company for consultation, but was told that he had to pay a series of fees such as commercial insurance and purchase tax before picking up the car.
"Zero down payment" literally means that the customer borrows money to buy a car, and does not need a down payment, just needs to repay the loan on a monthly basis. This is actually very tempting for many people, especially young people. The reporter learned that at present, most of the so-called zero down payment car purchases in the car purchase market are made by 4S stores for promotion, but they are actually operated by auto finance institutions and small guarantee companies. A salesperson of a 4S shop in Zhengzhou revealed that the down payment part of the zero down payment is made by the company itself, and the purchase tax and insurance can be funded by a third party. "To put it bluntly, it is a kind of private lending, and then they pay interest."
This mode of operation usually advances the full amount to help customers pick up their cars, buy insurance and get a license. When customers have assets, they can apply for credit cards from many banks, and then cash out their credit cards to recover their investment. Mr. Zhu, who has worked in a 4S shop for a long time, told reporters that in this case, consumers only have the right to use, not the ownership. After the sales company helps customers pay the down payment, the car registration certificate is mortgaged. The name on the certificate is a small guarantee company or a guarantor. It will not be transferred to customers until all the money is paid off.
Auto financing companies will adjust the interest rate according to the down payment ratio of car buyers. The usual rule is that the higher the down payment, the lower the loan interest rate, while the zero down payment interest rate is relatively higher. Moreover, Mr. Zhu told us that when handling zero down payment through auto financing companies, customers are generally required to buy auto insurance in the 4S shop that handles car loans, and also to install a positioning system, so in the end, customers will not get benefits in terms of vehicle prices. After calculation, Mr. Zhu found that the zero down payment car purchase will be repaid in three years, and a car with a price of about 150,000 yuan will cost more than 30,000 to 40,000 yuan in handling fees and interest. The 4S shop also requires a GPS with a price of more than 3,000 yuan. "
In the whole process of zero down payment, auto finance companies have to charge high fees for handling credit cards for customers. The handling fee for a credit card with a limit of 100,000 yuan is 15%, which is 15,000 yuan.
It is understood that Article 22 of the Measures for the Administration of Automobile Loans jointly promulgated by the Central Bank and the China Banking Regulatory Commission stipulates that the amount of loans for self-use by lenders shall not exceed 80% of the price of automobiles purchased by borrowers, that is, "zero down payment" is not allowed and recognized by law, which is illegal. Jiang Gongmin, executive vice president of Henan Automobile Industry Association, pointed out that zero down payment cars are usually mortgage cars in stock, and it is very risky to buy them by this unreasonable and illegal method.
The staff of Zhengzhou Industrial and Commercial Bureau reminded consumers that there is no free lunch in the world, and consumers should not be greedy for petty gains. To buy a car, you should go to a regular car store or exhibition hall. You can consult the bank or apply directly to the manufacturer’s finance for buying a car by stages.