Not necessarily. You can go to the bank and the car dealer first to find out.
Second, how much can a person borrow to buy a car?
Look specifically at your bank flow, that is, salary. Or how many assets there are. Some people can borrow hundreds of dollars, while others can only borrow tens of thousands. Still have to combine your own economic strength. Lenders should evaluate your ability to repay the loan every month, so that they will approve the loan.
If the amount actually approved will be less, then the customer can only find ways to chip in to pay the down payment. There is not much difference between the approved amount and the actual amount.
3. How much can I borrow to buy a car?
Car loan is a mortgage loan. If it is a bank, the loan amount will be determined according to the assessed price of the vehicle and the credit status of the borrower, which will generally be between 70% and 80% of the value of the vehicle. If it is other financial institutions, the loan amount can be high or low, but the loan interest rate will definitely be higher than that of banks. It is suggested that borrowers apply for vehicle mortgage loans through banks or formal financial institutions, which not only makes the interest rate reasonable, but also makes the mortgaged vehicles safer. If it is an illegal lending platform, you may install GPS positioning for your vehicle, and once it is overdue, you will tow the vehicle or sell it to pay off the debt. Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers. The interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal given by the bank to consumers, that is, borrowers, for purchasing their own cars (non-profit family cars or commercial vehicles with less than 7 seats). The higher the interest rate, the greater the repayment amount of consumers. The term of automobile consumption loan is generally 1-3 years, and the longest is no more than 5 years. Among them, the term of second-hand car loan (including extension) shall not exceed 3 years, and the term of dealer car loan shall not exceed 1 year. The benchmark interest rate is implemented for auto loans, but financial institutions can float within a certain range of the benchmark interest rate. The term of auto loans in major banks is generally less than five years, and the interest rate of auto loans directly determines the cost of people's loans and becomes an important factor in determining whether people lend. The actual interest rate of car loan is set by the handling bank according to the actual situation of customers and with reference to the benchmark interest rate stipulated by the central bank. Generally, customers with excellent conditions can enjoy the benchmark interest rate or float down 10%, while ordinary customers need to float up 10% on the basis of the benchmark interest rate. Personal loan car purchase business is divided into direct customers, indirect customers and credit card car loans. The direct customer type is generally a bank car loan for customers to meet directly, and the indirect customer type is generally a car loan from an auto finance company to a customer car loan. The fees charged by banks for direct car loans include deposit, principal and interest, and 3% guarantee fee. And the bank's premium customer fees will be discounted, but the preferential policies of each bank are different. In addition to the above fees, the car loan of individual auto financing companies also needs to bear the supervision fee, fleet management fee and warranty renewal deposit. And credit cards, car loans. Credit card installment car loan only provides installment payment for bank credit card users, not all conditions can be handled, and there is an audit procedure, which is difficult for credit card users with bad credit records.
4.how much is the car loan?
Generally speaking, buying a car with a loan has two advantages. First, the saved funds can be used in other places, such as investment, and the money invested may be more than the loan interest; Second, you can accumulate credit, borrow money to buy a car, and as long as you repay on time, you can accumulate good personal credit, which will help you apply for loans and credit cards in the future.
The process of buying a car with a loan is as follows:
First, book a car. Book the car first, then take the loan process, and negotiate with the 4S shop for specific preferential policies.
Second, submit the loan procedures. Usually need: husband and wife identity certificate, driver's license, marriage certificate, real estate license, income certificate, bank running water and other information.
Third, waiting for approval. After the loan procedures are submitted, the bank/vendor finance/third-party finance company will examine and approve the loan applicants' qualifications, which are usually divided into online examination and approval and offline examination and approval. Online approval generally calls the loan applicant; Offline approval is generally a home visit, and it will only be taken if the loan applicant's qualification is not very good.
Fourth, pay the down payment. After the loan is approved, it is necessary to pay the down payment to the 4S store first, and then the 4S store will issue a receipt for the down payment and give it to the bank/finance company for loan.
5. borrow money to pick up the car. Banks/financial companies will lend money to 4S shops or loan applicants, so that they can issue insurance invoices to pick up their cars normally.
If you need to borrow money, you can also choose to spend money under Xiaoman Finance. Qianhua, formerly known as "Baidu Qianhua", is the credit brand of Xiaoman Finance (formerly Baidu Finance). Provide users with safe, convenient, unsecured and unsecured credit services and borrow money to Xiaoman Financial APP.
Xiaoman Finance will earnestly implement the call of the state to support small and micro enterprises to tide over the difficulties. Its credit service brand has the money to fully support small and micro production and operation, and Xiaoman Finance is the first choice for most small and micro owners. It is reported that 70% of credit users of Xiaoman Finance are small and micro business owners. Up to now, Du Xiaoman Finance has joined hands with dozens of financial partners to issue hundreds of billions of loans to small and micro business owners.
This answer is provided by Kangbo Finance, focusing on the interpretation of financial hot events, the popularization of financial knowledge, the pursuit of professionalism and interest, so that the financial content that the people can understand can convey financial value in vivid and diverse ways. I hope this answer is helpful to you.