There are various forms of installment payment for car purchases, and there are mainly three types:

(1) Bank consumer loan;

(2) Automobile manufacturer finance company loan Method;

(3) Financial leasing method, the market is mainly operated by the "Kaiyuan Automobile" brand chain organization.

The down payment for installment payment is 20%-50% of the total vehicle price. Generally, banks require 40%-50%. Some car dealers can achieve 20% or even lower by finding some financing companies. It is generally repaid in 2-5 years. The monthly repayment depends on the loan size. You can use real estate as security. If the bank agrees to the loan, you must sign a vehicle loan mortgage contract in duplicate; you must also sign a car sales contract, purchase and sale contract Each party needs a share, and the bank also wants a share. After the contract is signed, the down payment is paid to the car dealer, and the car dealer will contact the bank to ask the bank to lend. In this case, all the car payment will be received! Vehicle insurance follows the loan term. If the loan is for three years, the insurance will be insured for three years. However, some financial companies now allow buyers to pay premiums year by year. The insurance includes one more theft protection than a vehicle with a lump sum payment, because the car belongs to the bank until the buyer pays off it. When the car payment arrives, it means that the buyer has paid for the car. He can take delivery of the car or directly apply for registration. After completing the registration, submit the vehicle production certificate, invoice, insurance policy, driving license, ID card, and account book to the bank. , after the mortgage, the bank will return the driving license and ID card account book to the buyer.

Requirements for installment car purchase:

1. ID card and household register

2. Loan application form

3. Housing certificate< /p>

4. Proof of personal income

5. Guarantor’s ID card and household register

All documents must be original and two sets of copies. Necessary conditions for obtaining a loan

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1. Residents with permanent residence in the local area and have a fixed residence in the local area;

2. Over 18 years old and under 60 years old;

3. Have a stable Income and ability to repay the principal and interest of the loan, the monthly payment amount shall not exceed 60% of the total disposable amount of the family;

4. A third-party natural person must provide guarantee for the repayment of the principal and interest of the loan. Husbands and wives are not allowed to guarantee each other;

5. During the loan period, you must purchase "Motor Vehicle Consumption Loan Guarantee Insurance" and continue to purchase "Motor Vehicle Insurance" from an insurance company recognized by the bank;

6. "All-in-one Card" has been issued Account;

7. Other conditions specified by the bank. Dealer: Go to the car dealer to inquire about car selection. Submit the materials you should submit to the dealer for preliminary review. Pay the down payment, select the car model, sign the car purchase contract, and the bank will accept, approve and apply for insurance. Go through the vehicle registration procedures and deliver them to the vehicle bank: Go through the loan application procedures, fill in the relevant information, the lawyer will make an appointment for a home visit, sign the relevant documents, and the bank will approve it and notify you that you can get a loan at a special dealer to choose a car, pay the down payment, and go through the relevant procedures. The bank will issue a loan, and you can go to the dealer to pick up the loan. Drive to the bank to collect the loan contract, IOU, vehicle insurance policy, etc.