Car loan refers to the loan issued by the lender to the borrower who applies for buying a car, also known as car consumption loan. Usually, lenders include banks, auto consumer finance companies and automobile manufacturers. Lenders need to provide personal identity card, vehicle registration certificate, driving license, bank card and other related materials before applying. Under normal circumstances, the maximum loan amount does not exceed 80% of the price of the purchased car.
Extended data:
1. What are the conditions for buying a car with a loan?
1, with valid identification and full capacity for civil conduct;
2. Can provide a fixed and detailed address certificate;
3. Have a stable occupation and the ability to repay the loan principal and interest on schedule;
4. Personal social credit is good;
5. Holding a car purchase contract or agreement approved by the lender;
6. Other conditions stipulated by the Cooperation Organization.
Second, what is the process of buying a car with a loan?
1. Lead customers to choose cars at the bank's special dealers and sign car purchase agreements or contracts;
2. The borrower applies to the loan bank for personal automobile mortgage;
3. Sign the contract with the consent of the investigation;
4. Go through the formalities of notarization and mortgage of automobiles;
5. Lenders (banks) handle loans;
6. After the loan is paid off, the lender (bank) cancels the pledge certificate and returns it to the customer.
3. What does the loan for buying a car include?
1, the original ID card, residence booklet or other valid proof of residence, and provide its copy;
2. Proof of occupation and economic income;
3 car purchase agreement, contract or letter of intent signed with the dealer;
4. Other documents required by the Cooperation Organization.
4. What is the most cost-effective way to buy a car with a loan?
1, credit card loan to buy a car
The advantages of buying a car with a credit card loan are fast, simple and low threshold. Credit card loan procedures are relatively simple, and the audit is much lower than that of banks. Many credit card products have an interest-free period, so car buyers will repay their monthly bills in full and on time, so there is no need to pay interest. However, it should be reminded at this time that the interest-free period and the handling fee are two different charges. When handling the installment, although the bank does not charge interest, it will charge a certain fee. The handling fee varies according to the number of bills, and the interest rates and collection methods of banks are also different.
2. Bank loans to buy a car
The minimum down payment of bank loans can be reduced to 20%, so it is called the choice of prospective car owners who buy cars with loans. In addition, banks can apply for large loans with low interest rates and long repayment period. The most important point is that banks can handle car loans without the restrictions of car models and car dealers, which greatly increases the choice of car buyers. There are many benefits, but it is not so easy to approve. Not to mention preparing a lot of materials, the most terrible thing is that after you spend most of your time going through the process, the bank tells you, "I'm sorry, you don't meet the requirements."
3. Auto financing company loans to buy a car
Not all auto brands have their own auto financing companies. There are no more than fifteen auto financing companies in China. For example, Dongfeng Nissan. The biggest advantage of auto financing companies is that they don't need to provide any guarantee from car buyers, as long as they have a fixed occupation and residence, stable income and repayment ability, and good personal credit. The loan amount is basically the same as that of the bank, and the procedures are relatively simple and the approval speed is fast. At the same time, individual auto financing companies have also introduced flexible repayment, and can choose the loan method that suits them according to their own financial situation.
What is a car loan?
1 Auto loan refers to the loan issued by the lender to the borrower who applies for buying a car, also called auto mortgage.
The borrower of a car loan must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.
The borrower has a stable occupation, the ability to repay the principal and interest of the loan, and good credit; Can provide recognized assets as collateral or pledge, or a third person with sufficient compensatory ability as a guarantor to repay the principal and interest of the loan and bear joint liability.
The maximum loan amount generally does not exceed 80% of the selling price of the purchased car, and the term is generally 1~3 years.
What is a vehicle mortgage loan?
Vehicle mortgage loan refers to a loan obtained from a bank or a vehicle consumption loan company with the borrower's or a third party's vehicle as collateral.
However, due to the rapid depreciation of vehicles, the possibility of traffic accidents and the high probability of vehicle value loss, there are relatively few ways to issue loans as a single mortgage. Vehicle mortgage loan has the characteristics of fast loan, high interest rate and short term, and is suitable for people in need.
Most vehicle mortgage loans are realized by collecting certificates instead of cars, that is to say, as long as you mortgage the relevant certificates of your vehicle to the lending institution, you can get the loan, and the vehicle can be used as usual after installing GPS. Therefore, before doing automobile mortgage, it is best to have a simple understanding and try to choose a loan institution that does not mortgage cars.
The specific handling process of vehicle mortgage loan is as follows:
1. Borrower's application.
The borrower applies for a vehicle mortgage loan from the bank, fills in the corresponding form, and submits relevant materials and supporting documents. The specific requirements of different lending institutions may be different. You can consult in advance before applying for a vehicle mortgage loan. Banks will require basic information such as motor vehicle driver's license, driving license, original car purchase invoice, vehicle insurance policy and owner's ID card.
2. Data review
The bank will go through the examination and approval procedures for the materials submitted by the applicant, and inspect the mortgaged vehicles, verify the authenticity of the vehicles, check whether the vehicles meet the requirements of vehicle mortgage, and check whether the vehicles and vehicle materials have been mortgaged.
3. Vehicle evaluation
After approval, the lender will evaluate the vehicle mortgaged by the borrower and reserve a loan amount by evaluating the value of the vehicle.
4. Signing contracts and mortgage registration
After passing, both parties will sign a loan contract and a guarantee contract. Hold the motor vehicle registration certificate, the identity certificates of the mortgagee and mortgagor, the master contract and the mortgage contract, and fill out the Application Form for Motor Vehicle Mortgage/Cancellation of Mortgage Registration.
5. Loans from lending institutions
After the formalities are completed, the bank will transfer the loan to the designated account in the way agreed in the contract.
What is a car loan?
Auto loan refers to the loan issued by the lender to the borrower who applies for buying a car, also called auto mortgage.
Object of loan: The borrower must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.
Loan conditions: the borrower has a stable job, the ability to repay the principal and interest of the loan, and good credit; Can provide recognized assets as collateral or pledge, or a third person with sufficient compensatory ability as a guarantor to repay the principal and interest of the loan and bear joint liability.
Loan amount: The maximum loan amount generally does not exceed 80% of the price of the purchased car.
Loan Term: The loan term for automobile consumption is generally 1-3 years, and the longest is no more than 5 years.
Loan interest rate: uniformly stipulated by the People's Bank of China.
Repayment method: you can choose one-time repayment method of principal and interest and installment repayment method (equal principal and interest, equal capital).
An auto financing or guarantee company, as a guarantor who repays the principal and interest of the loan and assumes joint liability, is a third party with sufficient compensation capacity.
What kind of loan does car loan belong to?
What kind of loan does car loan belong to? Car loan is a kind of consumer loan. Based on consumer credit, commercial banks and financial institutions provide loans to individual consumers to buy durable consumer goods or pay various fees, which is called consumer loans, also known as "consumer loans". Consumer loans are divided into different types according to different standards. For example, from the perspective of repayment period, it can be divided into one-time repayment loans and multiple repayment loans; Judging from the lending relationship between banks and consumers, it can be divided into direct loans and indirect loans; According to the purpose of the loan, it is divided into automobile loan, housing loan, housing improvement or repair loan, education and study loan, small living loan, holiday and tourism loan, etc. Introduction of car loan: car loan refers to the loan issued by the lender to the borrower who applies for buying a car, also known as car mortgage. There are generally three ways of car loan: 1. Auto financing company: The biggest advantage lies in convenience and low threshold. Companies are generally founded by car companies. 2. Buying a car with a credit card: The most obvious advantage lies in the loan interest rate, which is half lower than the traditional bank car loan interest rate. The premise is that you need a higher credit line to enjoy it. 3. Bank car loan: The biggest advantage is a wide range of choices. After seeing the car models, car buyers can apply for personal car consumption loans directly to the bank.
This is the end of the introduction of what is a car loan and what is a car loan. I wonder if you found the information you need from it?