What are the differences between buying a car in full payment and with a loan?

[StBrooklyn]

The differences between buying a car in full payment and with a loan are as follows: 1. Different payment methods. When buying a car in full payment, the entire car price is paid to the 4S store at once, and then the vehicle purchase invoice is issued. However, when buying a car with a loan, you only need to pay a part of the car's base price. The specific amount depends on the proportion you want to pay, usually a 30% down payment, and now the minimum can be as low as 10%. The remaining amount is paid through installments. It's similar to buying a house with a loan, where you deposit money into the bank every month, and it will be automatically deducted. 2. Different required documents. If you buy a car in full payment, generally only an ID card is needed, which is required for issuing the invoice and registering the license plate. However, buying a car with a loan usually requires more documents, typically including an ID card, driver's license, bank card, and sometimes bank statements and proof of residence may be needed if going through a bank.