Can I use provident fund loans to buy a car?

You can't use provident fund loans to buy a car. Laborers may apply for housing provident fund loans from the housing provident fund management center when purchasing, building, rebuilding or overhauling their own houses. Applicants applying for housing provident fund loans shall provide guarantees. The risk of housing provident fund loans shall be borne by the housing provident fund management center.

Legal basis

Article 26 of the Regulations on Housing Provident Fund Management

Employees who have paid housing provident fund can apply for housing provident fund loans from the housing provident fund management center when purchasing, building, renovating or overhauling their own houses.

the housing provident fund management center shall, within 15 days from the date of accepting the application, make a decision on granting or not granting the loan, and notify the applicant; If the loan is granted, the entrusted bank shall go through the loan formalities.

the risk of housing provident fund loans shall be borne by the housing provident fund management center.

Tips

The above answers are only made for the current information combined with my understanding of the law. Please refer to them carefully!

if you still have questions about this issue, I suggest you sort out relevant information and communicate with professionals in detail.

Can the provident fund loan a car?

The provident fund loan cannot be used to buy a car. Provident fund is a housing accumulation fund stipulated by the state and paid by employees in proportion based on their wages. It is compulsory, welfare, security and mutual assistance. The paid provident fund belongs to individual employees, and no one else has the right to use it. The main purposes of the provident fund are: to purchase, build, rebuild and overhaul occupied houses, to repay the principal and interest of home purchase loans, and to subsidize the rent that exceeds the family wage income.

Ways to buy a car by loan: 1. Traditional bank car loans. The traditional car loan is very strict in terms of loan amount and approval process, and its procedures are cumbersome, which is very troublesome for car buyers. At present, there are not many banks that carry out this business.

2. Bank credit card purchase by stages. This is the main way for major banks to promote new car loans-credit card installment. Take the recruitment behavior as an example. Just apply for a credit card of China Merchants Bank, and then apply for "Car Purchase Easy". The bank will increase the installment quota of its credit card according to the credit status of the cardholder, so as to meet the needs of the cardholder to purchase the designated brand cars in installments at the designated dealer. The cardholder can repay the car purchase money in monthly installments only by bearing a certain handling fee. At the same time, different car dealers will launch various promotional activities from time to time to reduce or reduce the installment fee.

3. loans from auto financing companies. Basically, mainstream brands have their own auto financing companies. When you buy cars of these brands, you can directly borrow money from auto financing companies through 4S stores. Its approval process is particularly fast, it can pick up the car on the same day, the qualification requirements are not high, and there are many promotions.

4、。 It can be used to buy cars, but the interest rate of most products will exceed 1%, and the loan period will be concentrated in about one year, which will put great pressure on the cost of borrowers. Its advantages are fast approval and consumers can choose car brands at will.

Can housing provident fund be used to buy a car?

Can housing provident fund be used to buy a car?

The main purposes of housing provident fund are as follows:

1. When you need to buy a house and need a loan, as long as you have paid the provident fund normally for one year (half a year in some places) and have a certain balance in the provident fund account, you can apply for a loan according to the number of n times the balance in the account (.

2. When you build, renovate or overhaul your own house, you can apply to the provident fund management center for withdrawal of the provident fund based on relevant supporting documents and materials.

3. When you purchase a house loan (including a commercial mortgage house loan), during the repayment period, you can use the relevant information to withdraw the provident fund to repay the loan principal and interest.

4. If your house is leased, you can apply for drawing provident fund to subsidize the rent when the monthly rent exceeds the family salary and affects the normal expenditure. The withdrawal and use of the provident fund must be related to housing, otherwise it can't be withdrawn (it can't be fully withdrawn until you retire and settle abroad).

What should I do if I don't have enough money to buy a car?

1. Buying a car by installment with a credit card: The remarkable feature of a car loan with a credit card lies in its quick approval and relatively simple procedures. If consumers use a credit card loan to buy a car, they only need to use a credit card with a good credit record within the validity period, and apply to the card-holding bank after providing their ID card to buy a car by stages. Even if you don't have a credit card, you can go through the formalities of buying a car with a credit card at the car dealer, which can usually be completed within 3-7 working days. Compared with other ways, the credit card limit is not high, which is suitable for buying family cars.

2. Loan from auto financing company: The procedure of applying for auto loan through auto financing company is relatively simple. Generally, the whole process takes only two or three days for the customer to get the car, which is convenient and fast. The main disadvantage of this method is that the car brand is single and the interest rate is relatively high.

3. Bank car loan: The term of traditional bank car loan can be as long as five years, with a higher amount and less repayment pressure. However, the disadvantage is that the bank car loan interest rate needs to rise by 2% or more, and many banks basically do not carry out it. In addition, strict examination and approval and long processing time are also huge shortcomings.

4. It can be used to buy a car, but the interest rate of most products will exceed 1%, and the loan period will be concentrated in about one year, which will put great pressure on the borrower's cost. The purpose is that the approval is fast and consumers can choose car brands at will.

Can the provident fund loan a car?

You can't use the provident fund loan to buy a car. The long-term housing savings paid by the employer of housing provident fund and its employees can only be used for the purchase, construction, renovation and overhaul of owner-occupied housing by employees, and no unit or individual may use it for other purposes.

Legal basis

Article 5 of the Regulations on the Administration of Housing Provident Fund

Housing provident fund should be used for employees to purchase, build, renovate or overhaul their own houses, and no unit or individual may use it for other purposes.

article 26

employees who have paid housing provident fund may apply for housing provident fund loans from the housing provident fund management center when purchasing, building, renovating or overhauling their own houses. The housing provident fund management center shall, within 15 days from the date of accepting the application, make a decision on whether to grant or not to grant loans, and notify the applicant; If the loan is granted, the entrusted bank shall go through the loan formalities. The risk of housing provident fund loans shall be borne by the housing provident fund management center.

Tips

The above answers are only made for the current information combined with my understanding of the law. Please refer to them carefully!

if you still have questions about this issue, I suggest you sort out relevant information and communicate with professionals in detail.

can I buy a car with a provident fund loan?

We all know that provident fund loans can be used to buy a house, but some people also lack funds to buy a car, so they will think, can they use provident fund loans to buy a car? Next, I will answer this question and introduce the purpose of provident fund loans.

provident fund loans are not allowed to buy a car. The main purpose of the provident fund is to purchase, build, rebuild and overhaul self-occupied houses, repay the principal and interest of home purchase loans, and subsidize the rent that exceeds the family wage income. Simply put, the use of provident fund needs to be related to the house. However, you can withdraw the provident fund and apply for a car with a bank loan, which may also piece together the so-called provident fund loan to buy a car.

If you are short of money to buy a car, you may wish to try the following methods:

1. Buying a car by installment with a bank credit card

This method has a low down payment, generally 3%. The procedures are simple and the car can be picked up quickly, but the loan period is short and there are few models to choose. If you want to buy a car quickly, you can choose this method.

2. The auto financing company loans to buy a car

This method is not as strict as the bank audit, and the loan method is flexible and the service is faster, but there are fewer models to choose from, and the expected annualized interest rate of the loan is relatively high.

3. Bank consumer loans for car purchase

Consumer loans can be divided into mortgage loans and two kinds of loans. The expected annualized interest rate of mortgage loans is relatively low, but the owner needs to provide the house as collateral to apply for loans, which also means that he needs to bear the risk that the mortgage house will be confiscated if the loan is not paid. There is no need for the borrower to provide any form of mortgage or guarantee, but the expected annualized interest rate of the loan is higher than that of the mortgage loan.

that's enough for the introduction of buying a car provident fund loan.