- 1.What are the conditions for a car loan?
- 2.Car loan required materials
- 3.Car Loan Application Steps
- 4.Car loan considerations
- 5.Everbright Bank Auto Loan
- 6.Minsheng Bank Personal Auto Consumption Loan
What are the conditions for car loans?
(1) The car buyer must be at least 18 years of age and a Chinese citizen who has full civil capacity.
(2) A car buyer must have a relatively stable career and a relatively stable economic income or have assets that are easy to realise, so that the loan principal and interest can be repaid on time. The easy-to-realize assets here generally refer to securities and gold and silver products.
(3) During the period of applying for a loan, the purchaser of the car deposits a down payment in the account of the bank's savings counter.
(4) Banks are provided with bank-approved guarantees. If the car buyer’s personal account is not in the local area, joint liability guarantees should also be provided. The bank does not accept the mortgage set by the car purchaser on the loan purchased vehicle.
(5) The car buyer is willing to accept other conditions that the bank considers necessary.
Car loan required materials
1. Have valid identification and have full civil capacity;
2. Can provide fixed and detailed residential certification;
3. Have a stable career and the ability to repay loan principal and interest on schedule;
4. Personal social credit is good;
5. Hold a lender approved car purchase contract or agreement;
6. Other conditions stipulated by the cooperative agency.
Car Loan Application Steps
1. Car loan procedures for auto company loans:
2. Choose products that require car loans;
3. According to their own circumstances, on-site application for general car loan packages and services;
4. Staff members approve loan approvals;
5. The store signed a contract to mention the car;
Car loan considerations
inWhat are the conditions for car loans?On the issue, banks will also implement "concessional terms" for some people. In addition to traditional methods such as mortgages, pledges, guarantees, etc., banks also provide certain creditworthy credit lines for certain creditworthy customers. They can use the credit method to apply for a loan.
Everbright Bank Auto Loan
Personal auto consumption loans refer to RMB loans issued by China Everbright Bank to buyers for their purchase of personal non-operating first-hand passenger vehicles. Passenger cars are vehicles designed to carry passengers and their carry-on baggage and/or temporary objects primarily in terms of their design and technical characteristics, including up to 9 seats including the driver's seat.
• loan amount: The maximum personal auto loan quota does not exceed 70% of the actual transaction price of the car (excluding various types of surcharges, fees, premiums, etc.), and new energy vehicles may be appropriately increased to 80%.
• Loan period: The maximum loan term is no more than 5 years. When the loan is due, the borrower's age must not exceed 65 years.
• Guarantee method: Vehicle Mortgage
• Repayment: Monthly repayment and other monthly repayment methods.
Minsheng Bank Personal Auto Consumption Loan
feature of product
1. Long loan term and high credit limit;
2. Loans are flexible and can be applied through our cooperative dealers or our branches;
3. Less loan procedures, quicker approval, timely lending;
4. Normal repayment for more than one year, no fees will be charged for early repayment.
Borrower basic conditions
1. Natural persons 18 years of age or older;
2. Have a stable career and income;
3. Personal credit is in good condition;
4. The models purchased are mainly personal and family-owned vehicles.
Shanghai Pudong Development Bank Auto Consumption Loan
Refers to personal loans issued by banks to borrowers to purchase new non-operating cars under their own names.
feature of product
1. Flexible application time: Apply before car purchase, car purchase, car purchase
2. Repayment flexibility: If the loan period is less than 1 year (inclusive), the repayment method may be the monthly repayment of interest or the repayment of monthly repayment of interest. If the term of the loan is more than 1 year, the repayment method of repayment of interest and interest may be adopted on a monthly basis; a variety of repayment methods may also be adopted according to the characteristics of the borrower's income and expenditure.
3. SMS notification: “Timely” message reminder to avoid penalties and credit damage caused by forgetting to pay due to busy work.
Apply for loan conditions
1. A natural person who has reached the age of 18 (inclusive) and has full civil capacity, and the loan due date does not exceed 60 years of age (inclusive).
2. Has a permanent urban residence or valid residence status.
3. Have legal and stable economic income, good credit, and the ability to repay principal and interest of loans.
4. Has signed a car purchase agreement or contract.
5. Can provide bank approved guarantees.
6. Other conditions required by the bank.
Shanghai Bank Personal Auto Consumption Loan
FingerShanghai Bank loanThe RMB loans issued by the bank to individuals for the purchase of cars for personal use.
Loan amount: Loans can be up to 70% of car purchases.
Loan period: Loan period up to 5 years.
Lending rates: According to the People's Bank of China's announcement of the benchmark interest rate for the same period of the same period, the benchmark interest rate will be floated and implemented.
Guarantee method: Borrowers applying for car loans must provideShanghai BankThe valid guarantees approved by the loan handling bank include the purchase of auto mortgages, real estate mortgages, pledges with deposit receipts or government bonds, and third-party guarantees. The specific guarantee method is determined by both the lender and the borrower.
How to apply for a car loan?Car loan processing process: 1. The customer to the car shop to determine a good model, car prices and related equipment, etc., and submit personal information to the car dealer; 2. The car dealer faxes the customer's information to the bank; 3, customers and cars The dealer signs the purchase agreement; 4. The customer and dealer and the bank
How about Evergrande Auto Loan?The Everbright Bank Auto Loan The Everbright Bank Auto Loan is an auto consumption method provided by Evergroin Bank. An individual can purchase a car at a dealer designated by Evergrande Bank, which can be mortgaged with real estate, pledged with valuable securities, The tripartite approach to car loans. 1, the loan target: with the city's permanent residence
How to calculate the car loan interest?Car interest calculation General consumers choose loans to buy a car The first thing to consider is the down payment and interest issues, car loan interest is calculated as follows: loan interest = loan amount * loan interest rate * loan term day rate = annual interest rate / 360 month interest rate = annual interest rate / 12 There are two types of calculation: (1) Regular interest rate determination
What are the ways to apply for a car loan?There are three main ways for a loan to buy a car: bank loans, credit card installments, and auto finance companies. All three ways have their own characteristics. It is understood that credit card installment services refer to bank credit card customers. They apply to banks and are approved. After paying the corresponding fees, they purchase cars at designated car dealers.
Why can't I refinance a loan after my car loan is paid off?Why can't I refinance a loan after my car loan is paid off? It is understood that individuals need to apply for car mortgage loans. If an individual’s car is a car that is used to apply for a car mortgage loan, it is necessary to pay off the car’s debt before it can be processed. But because the interest on car loans is sometimes and must be an integer, some people may be repaying
What is a zero down payment car loan?Zero down payment car loans In fact, businesses say that zero down payment does not really need to spend money to mention the car, in fact, the car dealer's move, and its price cuts on the car is not much difference. The car dealers introduced a zero down payment, but they divided the down payment into several monthly installments. It looks like you didn't make a one-time payment, but actually you