On June 2, at a press conference held by the People's Bank of China to interpret the financial policies of the State Council Executive Meeting on Stabilizing the Economy, some media asked: The People's Bank of China proposed to provide loans to small and medium-sized enterprises and individual industrial and commercial households. Truck and vehicle loans, temporarily distressed personal home loans, consumer loans, deferred principal and interest payments. What are the similarities and differences with the previous principal and interest repayment policies that guided banks? How to mobilize the enthusiasm of banks?

In this regard, Zou Lan, director of the Monetary Policy Department of the People's Bank of China, said that at the beginning of 2020, the China Banking Regulatory Commission and the People's Bank of China issued policies to promptly postpone the repayment of loan principal and interest to help small and medium-sized enterprises cope with the impact of the epidemic. In order to further increase support, in June of that year, the People's Bank of China released an inclusive financial loan extension support tool. Whitney Small and Micro Enterprises specializes in supporting loan extensions from local corporate banks. The policy has been extended twice and will be implemented until the end of 2021. During this period, financial institutions issued 16 trillion yuan in principal and interest in loans, including 13.1 trillion yuan in loans to small and medium-sized enterprises. Compared with previous policies, the extension policy proposed by this State Council meeting has several main features:

First, the policy support is stronger. After the rollover instrument expires, with the approval of the State Council, the People's Bank of China will continue to convert it into an inclusive financial instrument. The Whitney Small Loan Support Facility will be market-based this year and provide a financial incentive of 1% of balance increases for qualified inclusive; Whitney Small Loans include principal and interest payment deferrals resulting from loan growth. Recently, in response to the impact of the new round of epidemic, my country's regular meeting decided to increase the fiscal support ratio from 1% to 2% to further mobilize the enthusiasm of financial institutions. At the same time, it is clarified that deferred loans should adhere to substantial risk judgments, and loan risk classification should not be reduced solely due to epidemic factors, because epidemic factors will not affect credit records.

Second, pay attention to the bank’s initiative. The policy clarifies that commercial banks will independently negotiate with distressed entities in accordance with market-oriented principles to postpone the repayment of loan principal and interest due before the end of this year. In the past two years of loan extension, banks have accumulated a lot of experience. The awareness of cooperating with enterprises to overcome difficulties and achieve a win-win situation has increased, and the consciousness and initiative of applying for loans for enterprises have also increased. This time, the People's Bank of China also requires banks to contact enterprises in advance to proactively meet extension needs and strive to maximize extensions.

Fourth, innovative support methods. Currently, about 60% of truck loans are issued by automobile group finance companies, auto finance companies and financial leasing companies. These three types of non-bank financial institutions have actively responded to the policy of deferred principal and interest payments, but this may also cause certain liquidity pressures on them. In order to solve their worries, the three types of institutions should be guided in a timely manner to launch innovative financial bonds for freight logistics to provide truck owners and related logistics companies with support for deferred principal and interest payments, loan renewals and new funds to ensure that they can better implement policy. Related Q&A: Related Q&A: How to calculate truck installment payment?

Let me answer this question for you, because I am currently mainly engaged in commercial vehicle installment business.

Commercial vehicles are generally divided into four categories: heavy truck dump, semi-trailer, light truck, and medium truck. The installment conditions for these four types of cars are different, and depending on the type of car, the required procedures and interest are also different. Below I will give a simple and clear introduction to these four models.

Heavy-duty truck dump trucks and semi-trailers have very high requirements for importing parts. Only banking institutions can handle installment payments. Moreover, these cars usually come with two invoices, and banks can only lend 70% of the two invoices. The fees are generally relatively high. You need to pay a handling fee of 5% of the loan amount and a 5% repayment deposit. The deposit will be refunded by the bank after you pay off the car payment. The interest rate for a loan of 100,000 yuan is about 15,000 yuan for two years, and so on. Customers are required to provide driver's license, bank statement, ID card, affiliation agreement and other information. There are professional agencies, so handling it is not another trouble for him.

Light trucks and medium-duty trucks have been liberalized, and many small financial companies can make them. These cars are relatively simple to make. As long as the customer provides an ID card and driver’s license, they can apply for it, and the loan can be issued. 90%, you need to pay a handling fee of about 3,000 yuan. The interest rate for a three-year loan of 100,000 yuan is about 22,000 yuan. Although the interest rate is a bit higher, the investment cost is relatively small, and there is no pressure to repay later. For this type of car, as long as you choose the car, the dealer can handle it for you very quickly.

Trucks generally need to be affiliated, so it is best to find a more reliable transportation company to affiliate the vehicle before buying a car, so that the installment process will be simpler in the future. In short, there are many schemes for car loans, so be sure to ask more than one before making a decision. The cost of installment insurance for commercial vehicles is relatively high. A car worth around 100,000 yuan costs about 10,000 yuan. In addition, dealers will charge various fees. These fees are profit points for dealers, so they should try to keep the price as low as possible. This is the most cost-effective way.

The car that the poster asked about falls into the category of heavy-duty trucks and can only be borrowed from banking institutions.

Specific needs need to be analyzed based on local conditions! If you have any questions, you can follow me and message me privately!

Okay, this is the general situation of commercial vehicle installment. You can leave a message below for the specific operation details, and I will explain them one by one!