What Does 0 Interest Car Loan Mean?
1 Answers
Buying a car with a zero-interest loan means applying for a car loan without paying interest. However, it's important to note that an interest-free car loan ≠ fee-free. Below is an introduction to relevant content about car loans: 1. Reasons for inability to sell: When the car loan is not fully repaid, the vehicle is mortgaged to the bank. Vehicles with mortgage registration cannot be freely bought or sold. 2. Timing for buying/selling: When buying or selling a car with an outstanding loan, you can choose to complete the transaction after the loan is fully repaid, or request the buyer to settle the outstanding amount in advance. Below is extended information about car loans: 1. Loan space: For a car with an existing loan, applying for a secondary mortgage loan requires that the vehicle must have remaining loan space. 2. Definition of secondary mortgage: It refers to using an already mortgaged asset as collateral again, allowing the borrower to obtain additional loan funds.