카카오뱅크 중고차대출A financial sector official said, “Internet-only banks, including Kakao Bank, are gaining a foothold in the auto finance market,” and “Kakao Bank is attracting consumers’ attention with its low interest rates and high service convenience, not only among secondary financial institutions such as Capital, but also among primary financial institutions.”
Kakao Bank is rapidly gaining ground in the used car purchase loan market among banks.
The high growth of ‘Kakao Bank Used Car Purchase Loan’ was due to its high convenience and accessibility.
The product allows you to check the expected interest rate and limit with just the vehicle number without submitting complicated documents, and you only need to submit a car sales contract when executing the loan.
In particular, unlike existing bank auto loans that were restricted by business hours, it received a lot of attention for allowing loan applications and executions on weekday evenings or weekends.
Loan application hours are from 6:00 AM to 11:30 PM, and document review is from 9:00 AM to 8:00 PM on weekdays and from 9:00 AM to 6:00 PM on Saturdays and Sundays. In addition to high convenience and accessibility, competitive interest rates are also special features of ‘Kakao Bank Used Car Purchase Loan’.
Kakao Bank is the only bank that maintains a minimum annual interest rate of 4% for used car purchase loans.
As of today, the minimum interest rate (1-year financial bond) for Kakao Bank’s used car purchase loan is 4.662% per annum.
It is significantly lower than the average minimum interest rate (6.098%) for automobile purchase loans (new or used cars) in the banking sector (1st financial sector).
By product, KB Kookmin Bank’s ‘Magic Car Loan’ has the highest minimum interest rate (6-month financial bond) at 7.78% per annum, followed by Woori Bank’s ‘Woori Dream Car Loan’ (minimum annual interest rate of 5.72%), Shinhan Bank’s ‘Shinhan My Car’ (minimum annual interest rate of 5.29%), and Hana Bank’s ‘1Q Auto Loan’ (minimum annual interest rate of 5.603%).
In addition, the long loan period (up to 5 years) and 100% exemption from early repayment penalty also contributed to its popularity.
A Kakao Bank official said, “From the perspective of used car buyers, we simplified the documents and implemented it so that it can be used on weekends to resolve inconveniences and increase convenience.”
Meanwhile, Kakao Bank plans to expand into a financial + lifestyle platform, starting with used car purchase loans and launching new car purchase loans, auto loan, and insurance comparison services in the future.
Reporter Jeong Su-jin financial@greened.kr
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