What is the difference between buying a car in full payment and installment?

[LeJameson]

Those with sufficient funds can pay in full, while installment car purchases are beneficial for both the car owner and the 4S dealership. For the owner, it reduces the financial burden, allowing them to avoid spending a large sum of money at once. For the dealership, it can improve sales efficiency and even generate additional fees during the installment process. Below are the specific differences: 1. Insurance difference: Full payment requires payment of purchase tax, registration fee, compulsory insurance, and vehicle tax, while insurance is optional. For loan purchases, full insurance coverage is required nationwide as mandated by banks. 2. Mortgage issue: During the loan period, the vehicle's ownership is not in the owner's hands as it is used as collateral. The mortgage is lifted only after the loan is fully repaid. For loan purchases, the vehicle's title, purchase invoice, and full insurance policy are held by the bank until the loan is repaid. Full payment does not require any mortgage.