How many years can a truck loan last

According to the current ways of car installment loans in the market, there are bank mortgage loans, loans from auto financing institutions and credit card installment payments. Generally, the term is 1 year, 2 years, 3 months, 3 years, 4 years and 5 years, and the longest is no more than 5 years. Car buyers can reasonably determine the term according to their own funds.

The term of car loan mainly depends on the following points:

1. Repayment pressure. If you don't have much money at hand now and the monthly repayment pressure is high, you can extend the time appropriately;

2. The value of the vehicle depends on whether the purchased vehicle belongs to a relatively value-preserving brand. If it is a domestic brand, it will take 3 years. Imported cars and joint venture cars generally depend on personal needs. If the price is relatively high, the term can be extended a little;

3. car loan interest rate, because there are several different ways to apply for car loan, and the corresponding interest and handling fee are different, the term can be determined after comparison.

Generally, the interest of bank car loans is within 5% to 9%, and the specific interest depends on the regulations of each bank; If you apply for a car loan in some financial companies, the interest may be higher at this level. It is not excluded that some car companies subsidize the above interest.

what are the ways of truck loan? You can choose four simple ways!

1. Dealer car loans

With the increasing popularity of truck loans in the market, dealers have long been impatient and hope to share a piece of this market. Compared with banks, car owners can enjoy the advantages of simple procedures, fast handling and flexible repayment methods when applying for loans from dealers. If you catch up with the good times, you can enjoy unique and attractive activities such as "zero interest" or "zero down payment".

2. credit card installment

nowadays, many people who want to buy big items use credit cards to purchase by installment, and this method can also be used for truck loan purchase. However, you have to have a credit card first. All major banks have opened credit cards to buy cars by installment, so car owners can make more comparisons before choosing.

3. Buying a car with a credit loan

Buying a truck with a credit loan is also a major way of truck loan. This way is relatively simple. You can win the full trust of the lending institution with your personal credit qualification without going through mortgage registration procedures. The loan amount is generally about ten times your monthly income, and the maximum amount can reach as much as 5,.

4. Mortgage loan purchase

Credit loan qualification is not enough, so it is a good choice to choose mortgage loan to buy a car, and the interest rate of this kind of loan is relatively low, and the maximum loan amount is 7% of the assessed value of collateral. You can apply for a reasonable loan amount according to your own needs and conditions. As long as you repay the loan on time, you can cancel the mortgage.

That's all for the "What are the ways of truck loan". You can choose the one that suits you according to your own situation.

What are the procedures for handling truck loans

Procedures for handling truck loans:

1. Select the products that need car loans;

2. Apply for universal car loan packages and services on the spot according to your own situation;

3. The staff will review and approve the loan;

4. The store signed a contract to pick up the car.

Application requirements

The second-hand car loan business opened by banks has higher requirements for borrowers, generally requiring borrowers to have a legitimate occupation, stable income, the ability to repay on time and good personal credit. If you can prove that you own a local property, the borrower's loan application will be more secure.

Take Beijing as an example. Applicants must have Beijing hukou, ID card and permanent residence. Citizens aged between 18 and 6; Need to have a stable job and a stable income.

the materials to be prepared when applying for a loan include: the identity card of the car buyer; Household registration book; Housing certificate; Proof of income: the monthly income must be twice the monthly repayment; Two one-inch recent photos. If the buyer is married, he needs a marriage certificate and spouse's certificate.

Extended information:

Repayment method

Equal principal and interest repayment

In the calculation, the interest generated by the monthly loan balance is calculated first, and the repayment principal of the current month is formed after deducting the interest due from the equal repayment amount.

at the initial stage of repayment, due to the large loan balance, interest accounts for a large proportion of the monthly repayment amount, and the repayment speed of principal is relatively slow. As time goes by, the loan balance gradually decreases, the proportion of interest gradually decreases, and the proportion of principal gradually increases. This repayment method is more suitable for those who have a fixed year-end bonus or a fixed annual income.

repayment of equal principal

average capital for car loan refers to the repayment method chosen by the borrower in average capital after the car loan, which is to divide the total loan amount equally during the repayment period, and repay the same amount of principal and the interest generated by the remaining loan in that month every month. In this way, because the monthly repayment principal amount is fixed and the interest is getting less and less, the lender has greater repayment pressure at first, but the monthly repayment amount is getting less and less as time goes by.

average capital loan calculation formula: monthly repayment amount = (loan principal/repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate

smart repayment

This repayment method is a new way of car repayment, that is, the loan is divided into two parts and repaid at the first and last stages respectively. There are three different repayment schemes to choose from after the maturity of the smart balance payment:

Scheme 1: one-time repayment of the balance payment at maturity;

scheme 2: refinance the balance and apply for a 12-month loan extension;

Option 3: Return the balance by vehicle replacement.