Can Shanghai Pudong Development Bank make a second-hand car mortgage loan?

Second-hand car loan, that is, second-hand car mortgage loan, refers to the loan issued by commercial banks to individual borrowers to buy second-hand cars for consumption and use the purchased cars as collateral for loans. At present, the development potential of second-hand cars in China is very great. Many people have a great demand for second-hand cars because of their limited economic ability or just for practicing or transitional use.

National regulatory restrictions:

☆ The maximum loan amount shall not exceed 50% of the purchase price.

☆ The loan term shall not exceed 3 years.

Qualification requirements

☆ Chinese mainland residents, or Hong Kong, Macao and Taiwan residents and foreigners (non-active servicemen) who have lived in China continuously for more than 1 year (inclusive).

☆ Age 18 -60.

☆ Have a normal and fixed residence.

☆ Have a legal and stable job and income.

Good credit record.

No criminal record.

Data requirements

my ID card

☆ Account book

proof of employment

☆ Residence certificate and other related materials.

Loan method

The most common thing is to apply for a loan from a bank. However, banks have requirements on the price and age of used cars, and the procedures are complicated. Banks applying for loans also have its advantages. The interest rate of bank loans is lower than that of general financial institutions, which is its greatest advantage. Secondly, you can apply for loans from local financial lending institutions that specialize in loans. Generally speaking, the loan speed and quality of existing customers of financial institutions will definitely be many times higher than that of banks. The advantage is that applicants don't have to wait too long to apply for second-hand car loans, and the amount they can generally apply for will be more satisfactory. Another method is private lending agreement. The relationship between the buyer and the seller is good, and the buyer can't raise that much money for a while, so he can agree with the seller to pay back the money on a monthly basis.

Application conditions

1. A natural person with full capacity for civil conduct, aged between 18-60;

2. Urban permanent residence or valid residence status;

3. Have a proper occupation and stable economic income, and have the ability to repay the loan principal and interest on schedule;

4. Have a property certificate in the local area;

5. Have good personal social credit;

6. Other conditions stipulated by the Cooperation Organization.

Loan process

Submit relevant materials to the brokerage company for preliminary examination;

Pay a down payment;

Select a used car to buy;

Sign a car purchase contract with the dealer and insure the vehicle (generally requiring reinsurance of used cars);