Is it easy to get a car loan with a credit card debt of 220,000? With a credit card debt of 220,000, whether you can successfully apply for a car loan needs to be calculated based on the cardholder's debt ratio. The formula for calculating personal debt ratio is: Personal debt ratio = (total personal liabilities/total assets under personal name)*100%. Borrowers can substitute their income, liabilities, etc. into the formula for calculation. If it is calculated that the debt ratio does not exceed 50%, it is relatively easy to apply for a car loan. If the debt ratio exceeds 70%, it is basically impossible to apply for a car loan. Of course, you can also use some tricks to improve your car loan approval rate.
1. Increase the down payment ratio. For financial institutions, the higher the loan amount that a borrower applies for, the greater the risk they need to bear. If the borrower increases the down payment ratio, the financial institution's risk will become smaller and the possibility of lending will increase a lot.
2. Accept high loan interest rates. When the borrower's debt ratio is high and financial institutions are unwilling to lend, the borrower can accept relatively high loan interest rates. Financial institutions can earn more profits and are naturally willing to take greater risks.
3. Apply for a mortgage loan. When the loan amount is relatively high, the borrower can choose to apply for a mortgage loan. On the one hand, the interest rate is preferential, on the other hand, the loan period is longer and the loan amount is more guaranteed. If there is no collateral, the purchased car can also be used as collateral. The above is the sharing of relevant content about "getting a car loan with a credit card debt of 220,000 yuan". I hope it can help everyone!