What are the common auto loans? There are these four main ways!
Automobiles, as a means of transportation, are favored by many people, and with the improvement of the social economy, it has now become very simple to purchase a car, as long as you pay a certain amount of down payment, and repay the loan in installments. So what are the common auto loans?
1, bank auto loans
Most banks will have auto loan products, to the Construction Bank, for example, if the vehicle purchased is a car for personal use, the amount of the loan can not be more than 80% of the price of the car purchased, the loan period of up to 5 years. If the purchased vehicle is a commercial vehicle, the loan amount cannot exceed 70% of the price of the purchased vehicle, of which the loan amount for commercial trucks cannot exceed 60% of the price of the purchased vehicle, and the loan period is up to 3 years.
2, credit card installment
If you hold a bank credit card, and the use of good, provide proof of identity, you can apply to the bank credit card installment to buy a car, this way compared to the bank car loan threshold is lower. However, many credit card installment car purchase is the bank and the relevant 4s store cooperation, in addition to the interest of the credit card itself also need to pay a certain installment fee to the 4s store.
3, auto finance companies
Directly go to the 4s store for can, now on the market there are a lot of financial companies such as SAIC General Motors Finance, Volkswagen Finance Dongfeng Automobile Finance, etc., the above automobile General Motors Finance, for example, the borrower does not need to provide collateral and security, only need to bring my ID card, household registration, proof of employment, proof of real estate and other related materials can be processed.
The conditions of this kind of loan are simple, usually only need ID card and bank card can be processed, if catch up with the activities of the period there are interest-free concessions, but the installment fee is necessary to pay.
4, the Internet car loan
Maodou new car, play a car, etc. are now popular Internet car loan, we recommend that this loan method is more risky, be sure to choose a formal platform.
Car loan how to loan the most cost-effective
Car purchase loan processing as follows:
1. Applicants in the 4S store to choose a car, and dealers to talk about the price, pay the down payment, and then sign a contract to purchase a car;
2. With the purchase contract, ID card, real estate license to the lending bank, fill out the application for a loan form, submit the materials;
3. The bank accepts the loan application and examines and evaluates the application;
4. Signs the loan contract with the applicant after approval;
5. The applicant should cooperate with the lending bank to complete the follow-up procedures, including mortgage registration and notarization;
6. The lending bank transfers the money to the car dealer's account, and the applicant picks up the car in the store of 4S.
Extended reading
A car loan is a loan granted by a lender to a borrower who applies to buy a car. Auto consumer loan is a new type of loan in which banks provide RMB secured loans to car buyers who purchase cars from their authorized dealers. The interest rate of auto consumer loan is the ratio of the loan amount to the principal amount that the bank offers to the consumer, i.e. the borrower, for the purchase of an automobile for his/her own use (a non-profit family car or a business car with 7 seats or less). The higher the interest rate, the larger the consumer's repayment.
The conditions required for a car loan are:
1. having a valid identity document and full capacity for civil behavior;
2. being able to provide proof of a fixed and detailed address;
3. having a stable occupation and the ability to repay the principal and interest of the loan on time;
4. having a good social credit of the individual;
5. holding the lender's Purchase contract or agreement approved by the lender;
6. Other conditions stipulated by the cooperative organization.
Car purchase loan process:
1.Lead the customer to choose a car at the bank's authorized dealers and sign a car purchase agreement or contract;
2.The borrower applies for a personal car mortgage loan from the lending bank;
3.Sign a contract after investigation and consent;
4.Handle the notarization of the car and the mortgage and other formalities.
5. The lender handles the loan;
6. After the loan is repaid, the lender cancels the pledge certificate and returns it to the customer.
Potential Borrower
Borrower must be a permanent resident of the lending bank's location with full capacity for civil behavior.
Terms
The term of auto consumer loans is generally 1-3 years, with a maximum of 5 years. Among them, the loan term for used car loans (including rollover) is no more than 3 years, and the loan term for dealer car loans is no more than 1 year.
Car mortgage which platform is better
Car mortgage which platform is good:
1, Ping An car owner loan
Car owner loan is a car mortgage under Ping An Bank, and the qualification requirements for the user are not too strict. Users do not need to deposit the car or license when applying for a loan, they only need to provide a car insurance policy to apply directly. Users can apply for a maximum loan amount of about 80% of the vehicle's value.
According to the official staff of Car Owner Loan, as long as there is no problem with the information provided by the user and the user meets the conditions of applying for a loan from Car Owner Loan, the user can receive the loan as soon as the same day.
2, Jingdong car loan
Jingdong car loan is a loan product of Jingdong Finance, users can apply directly in the Jing Finance. Users who want to apply for a Jingdong car loan, you need to be between the ages of 18-60 years old, can not be a college student, personal credit can not have a more serious credit stains and so on.
Of course, the user's collateral vehicle must be between 1-12 months old, and the mileage must not exceed 100,000 kilometers. The maximum amount that the user can apply for is 90% of the value of the mortgaged vehicle. If the information provided by the user is correct, the user can receive the loan as soon as the same day.
If you are in need of a loan, we recommend you to use 360 Lend Lease, which is based on 360's big data, and then makes a comprehensive assessment of the user's credit, and finally provides the user with a consumer loan with instant arrival on this basis. Borrowing up to 200,000 (click on the official free quota), the daily interest rate is as low as 0.03%, with easy application, low interest rates, fast disbursement, flexible borrowing and repayment, interest rate transparency, security and other characteristics. Warm tips: the above information is for reference only and does not make any lending suggestions. In the network loan process, must pay attention to risk prevention, in order to protect the safety of funds, to prevent the set of loans, etc., we recommend that you fully understand the clear through their own judgment to independently choose the formal bank or formal loan platform, according to their own actual situation reasonable borrowing.
Which bank has the lowest interest rate for auto loans
The interest rate for auto loans is related to a number of factors, which can be chosen according to the following. If the car loan is less than 1 year, you can give priority to Bank of China, followed by Construction Bank and Ping An Bank; in general, Ping An Bank has the lowest interest rate for car loans, so you can give priority to it.
Among several banks, the highest car loan interest rate is that of the Construction Bank; the Bank of China's car loan conditions are more stringent and need not be a preferred bank.
Different banks have different car loan interest rates, generally in accordance with the central bank's benchmark lending rate on the floating implementation of the benchmark interest rate is as follows: the interest rate for a loan within one year is 4.35% for a loan of one to five years is 4.75% for a loan of more than five years is 4.90% of the interest rate of the car loan.
Calculation formula: car loan interest = loan amount APR term, while the bank also needs to combine personal credit, bank / store promotions, down payment ratio, etc., so you need to determine which bank car loan is the most cost-effective according to the owner's actual situation.
As an example: 100,000 car loan 3-year interest how much Mr. Lee to a bank to apply for 100,000 yuan car loan, choose 3 years to pay off the approval of the loan interest rate of 4.75%, according to the above formula for calculating the interest rate of the car loan, you can derive the final interest rate for the car loan is: 100,000 x 4.75% x 3 = 14,250 yuan.
The process of buying a car with a bank loan is as follows.
1, the car buyer in the choice to buy the vehicle, prepare relevant information to the lending bank to buy a car loan application; 2, the lending bank according to the application information submitted for review and investigation; 3, after the audit, the borrower and the lending bank to sign a loan contract; 4, the borrower went to the local DMV for collateral registration procedures; 5, the lending bank to issue a loan, the borrower to go to the dealership to pick up the car with the relevant The borrower goes to the dealer to pick up the car with the relevant proof.
About the car loan comparison and the car loan non-mortgage loan introduction to this end, I do not know you find from it you need information?