According to Article 9 of the Measures for the Administration of Auto Loans, borrowers applying for personal auto loans should meet the following conditions: citizens of People's Republic of China (PRC) (hereinafter referred to as "People's Republic of China (PRC)"), or residents of Hong Kong, Macao and Taiwan and foreigners living in People's Republic of China (PRC) (hereinafter referred to as "People's Republic of China (PRC)") for 1 year or more;

Having valid identification, fixed and detailed address and full capacity for civil conduct; Personal legal assets with stable legal income or sufficient to repay the loan principal and interest; Personal credit is good; Be able to pay the required down payment; Other conditions required by the lender.

Extended data:

Personal car loan

Article 8 The term "personal car loan" as mentioned in these Measures refers to the loan granted by the lender to the borrower for the purchase of a car.

Article 9 A borrower applying for an individual car loan shall meet the following conditions:

(a) People's Republic of China (PRC) citizens, or residents of Hongkong, Macau and Taiwan Province who have lived in People's Republic of China (PRC) for one year or more, and foreigners;

(2) Having a valid identity document, a fixed detailed address and full capacity for civil conduct;

(3) Personal legal assets with stable legal income or sufficient to repay the loan principal and interest;

(4) Personal credit is good;

(5) Being able to pay the prescribed down payment;

(6) Other conditions required by the lender.

Article 10 When granting personal car loans, the lender shall comprehensively consider the following factors and determine the loan conditions such as loan amount, term, interest rate and repayment method:

(a) the lender's credit rating of the borrower;

(2) loan guarantee;

(three) the performance and use of the purchased car;

(four) the development of the automobile industry and the supply and demand of the automobile market.

Article 11 A lender shall establish a borrower's credit file. The borrower's credit file shall include the following contents:

(1) The name, address, valid identification and contact information of the borrower;

(2) Proof of the borrower's income level and credit status;

(three) the purchase agreement, car model, engine number, frame number, price and purpose of the purchased car;

(4) The amount, term, interest rate, repayment method and guarantee of the loan;

(5) loan collection records;

(six) other information needed to prevent loan risks.

Article 12 When granting personal commercial vehicle loans, the lender shall, in addition to the contents specified in Article 11 of these Measures, add the annual inspection of commercial vehicle operation qualification certificate, commercial vehicle depreciation and insurance information to the borrower's credit file.

References:

Baidu Encyclopedia-Measures for the Administration of Automobile Loans