To apply for a car loan, you need to go through relevant procedures, and the procedures and materials to be submitted are different according to the lender and the lending institution. So what are the procedures for applying for a loan to buy a car, and how can individuals borrow money to buy a car? The following is a detailed introduction for everyone.
1. Which institutions can handle personal car loan business?
Commercial banks, urban and rural credit cooperatives and non-bank financial institutions (such as auto financing companies) legally established in People's Republic of China (PRC) and approved by the China Banking Regulatory Commission and its dispatched offices to engage in RMB loan business can handle personal auto loan business.
2. What are the procedures for buying a car with a loan?
Take the following three most common loan methods as examples:
? Automobile loan process of China Construction Bank
1. Loan target: a natural person with full civil capacity, aged between 18 and 60.
2. Loan amount: if the purchased vehicle is for personal use, the loan amount shall not exceed 80% of the price of the purchased vehicle; If the purchased vehicle is a commercial vehicle, the loan amount shall not exceed 70% of the price of the purchased vehicle, of which the loan amount of the commercial vehicle shall not exceed 60% of the price of the purchased vehicle; If the purchased vehicle is a used car, the loan amount shall not exceed 50% of the price of the car purchased by the borrower, and the loan amount shall not exceed 200,000 yuan;
3. Loan term: If the purchased vehicle is for personal use, the loan term shall not exceed 5 years; The purchased vehicle is a commercial vehicle or a used car, and the loan period is no more than 3 years;
4. Expected annualized interest rate of the loan: it shall be implemented in accordance with the provisions of China Construction Bank on the expected annualized interest rate of the loan;
5. Guarantee method: To apply for personal car loan, the borrower must provide certain guarantee measures, including pledge, mortgage of the car purchased by the loan, mortgage of real estate, third-party guarantee, etc. You can also buy personal car loan performance guarantee insurance.
6. Application materials to be provided:
(1) Personal loan application; (2) Personal valid identity documents. Including identity cards, household registration books, military officers' cards, passports, and travel passes for compatriots from Hong Kong, Macao and Taiwan. If the borrower is married, the identity certificate of the spouse shall be provided; (3) proof of household registration or long-term residence; (4) personal income certificate, family income or property certificate when necessary; (5) Certificate of intention to buy a car issued by the automobile dealer; (6) proof of down payment for car purchase; (7) If the purchased vehicle is secured by other means than mortgage, the relevant materials of the guarantee shall be provided, including the certificate of pledge of rights, the certificate of ownership and evaluation of mortgaged real estate, and the letter of intent for third-party guarantee, etc. (8) If the vehicle purchased by the loan is a commercial vehicle, it is also necessary to provide proof that the purchased vehicle can be legally used for operation, such as the affiliation agreement and lease agreement for the vehicle to be affiliated with the transportation fleet.
? China Merchants Bank's credit card installment purchase procedure
Application conditions mainly include:
1. Chinese mainland people are natural persons with full capacity for civil conduct, aged between 18-60.
2. The down payment is enough. Buying a car by installment with a credit card, like a car mortgage loan, requires the applicant to prepare a down payment of not less than 30% of the car price.
3. Work and income are stable. Credit card installment also requires the applicant to have a stable job and income, which proves that the applicant has sufficient repayment ability.
4. The applicant has a good credit record. A good credit record is also one of the conditions for banks to require credit cards to buy cars by stages. If the applicant's credit history is not good, he may not be able to apply for credit card installment car purchase.
5. Have a valid bank credit card. Buying a car by installment with a credit card is naturally indispensable. Individuals looking for a local bank credit card to buy a car in installments, the applicant can only hold a valid credit card of the bank.
Required materials: identity certificate, income certificate, real estate license, work certificate, etc.
Features:
1) does not need to pay interest, but there is a handling fee (generally 1 6%, 2 years 10%), which is slightly higher than that of CCB. The handling fee can be shared and returned every month.
2) The audit is also stricter (slightly looser than CCB), and the conditions for high-quality credit card users of China Merchants Bank are relaxed; Some 4S stores are also more relaxed in purchasing insurance. For example, you only need to buy insurance for one year for two years.
3) The vehicle does not need to be mortgaged.
? Finance company loan car purchase procedures
Buying a car with a loan from an auto financing company requires five certification procedures, namely, identity certificate, marriage certificate, work certificate, income certificate and residence certificate.
Automobile loan qualification
The lending standards of auto financing companies are relatively loose, mainly focusing on the applicant's credit; Bank lending focuses on the applicant's income, account and collateral. The biggest difference between banks and auto financing companies is that in auto financing companies, it is generally easier for foreign accounts to apply for car loans under certain conditions, while it is more difficult for banks to apply for car loans, which requires a series of cumbersome procedures such as local citizens' guarantees and real estate licenses.
Loan procedures and fees
The advantage of auto financing companies is that the procedures are quick and convenient, which are generally completed in about three days, and there is no need to pay fees such as handling fees, mortgage fees and attorney fees. It takes more than a week for a general bank loan. You need to find a guarantee company to guarantee and charge a certain amount of miscellaneous fees.
Third, how can individuals borrow money to buy a car?
Here are three common ways to buy a car with a loan as an example:
1. How to borrow a bank loan to buy a car
First of all, introduce the bank car loan. As the mainstream loan method in China, banks have always been the first choice for most car buyers. The biggest advantage of handling car loans in banks is that the expected annualized interest rate is relatively low. However, the official said that there is not enough manpower, and the bank's procedures for handling car loans are also the most complicated. The speed of the next payment is of course self-evident, and some extra expenses may be added. Of course, if you choose a real estate mortgage loan, the expected annualized interest rate may be lower, which can reduce the monthly payment of the loan car buyer more than the traditional unsecured mortgage loan.
Car selection at the dealership → loan application → bank investigation and approval → car pick-up.
Expected annualized interest rate: the benchmark expected annualized interest rate set by the central bank rises 10%-30%.
2. How can a car loan company borrow money to buy a car?
If consumers want to save time, they might as well try the auto loan agency form of 4S shop, which is commonly called auto loan company. Usually, the fees charged by such companies are transparent and reasonable, and the procedures are simple, but the annualized interest rate of car loans is expected to be higher than that of banks, which is suitable for short-term loans.
Choose a car in a 4S shop → apply for financing → approve → pick up the car.
Cost: interest or handling fee. Some products are free.
3. How to borrow a car with a credit card loan?
Many banks have bought credit cards with value-added functions, such as road rescue, maintenance discount and refueling discount. Consumers can apply for this credit card, use their own property to increase the quota, and then swipe their cards to buy a car. This will not only get high points back, but also expect the annualized interest rate to be cheaper than that of the car loan company, and the procedure is simple.
Select a car in the 4S store → apply for staging → pick up the car.
Rate: 0% of the installment amount-10%.
What does it mean to pay back the car loan by 20,000 yuan 1.5 million yuan?
The car loan repays 20,000 yuan 1.5 million, which is a rebate reward for car buyers who apply for installment loans. The loan for car sales is also a major way of purchase, so the relevant loan banks will hope that the sales staff will recommend loans to customers in order to obtain high interest income. For a car salesman, you can also get the corresponding rebate reward.
It is reliable for Dong Chechang to buy a car. If he buys a car, he will get points. 1 integral is equivalent to 1 yuan. If the points are cashed back, he will repay the loan every month. Can you buy hundreds of thousands of cars?
Not reliable. I suggest you don't believe it CCTV news has been exposed. You can look at Baidu's mechanism. Later, they controlled the refund, and it was up to them to decide whether to refund or not.
Buying a car and returning 8000 points can be spent.
You can't spend it. It's for gifts and discounts.
You can exchange shopping cards, telephone recharge cards and oil cards. If there is a discount, it will be, for example, points that can be exchanged for the corresponding gifts, and you can get the corresponding goods for free, such as Mobil One and so on.
For example, when car home buys a car, he will exchange points for these and other gifts.
Why is there a fine for buying a car in full, but a reward for picking up the car in stages?
Because when buying a car, customers choose to pick up the car in full, and the shop selling the car doesn't have a lot of profit sharing, but the bank can get more bank loans by picking up the car in stages, and the bank will give the sales rebate, so they will have higher profits.
Nowadays, with the development of society, cars have become a necessity for people's production and life. Then there are two ways to buy a car. The first way is to pay all the car money in one lump sum, and the second way is to pay by installments when buying a car. Many people go to 4s shops to sell cars, and the sales consultants who sell cars will gradually take the road of loans. Because if there is a car customer loan, the seller's commission will be higher.
Because you want to buy a car, you need to go to the bank for a loan, and then the bank will return some profits to the 4s shop according to the amount of loans the customers have made in the past, so for the 4s shop and the clerk inside, they can get more profits from the bank loans. The sales consultant asked more customers to sell loans, and then the sales performance improved, and naturally there were more rebates.
So when we go to sell cars, sometimes even if we can pay the full amount in one lump sum, the sales staff will probably guide you slowly and let you pay in installments, and they will get more profits from it. If you are short of money and hesitate to like a car, then you are likely to get a loan.
In this way, customers who buy a car at one time can buy their own cars even if they have no money, which improves their performance and can get more rebates from the bank.
This is the end of the introduction of the meaning of car loan rebate and car loan. I wonder if you found the information you need from it?