The provident fund cannot pay off the car loan.

1. Why can’t the housing provident fund be used for a loan to buy a car?

Because the provident fund is stipulated by the state, the public housing provident fund paid by employees in proportion based on their wages is mandatory, welfare, security and mutual assistance.

The provident fund deposited belongs to the individual employee and no one else has the right to use it.

2. The actual interest rate for car loans is determined by the handling bank based on the actual situation of the customer and with reference to the loan benchmark interest rate stipulated by the central bank.

There are three types of car loans: direct car loans, indirect car loans, and credit card car loans.

3. Things to note when applying for a car loan: Interest-free car loan does not mean free of handling fees.

In fact, the interest is included in the handling fee; the contract stipulates.

Pay attention to the provisions of the loan contract; negotiate the agreement before mortgage.

When signing a contract, pay attention to the repayment method, date, amount and other information.