Should a couple take a loan to buy a car by one person or two people?

Married people can take a loan to buy a car in their own name, and individuals apply for a car loan. The loan handling bank (car Consumer finance companies) will only look at the customer's credit report, not his or her spouse's credit report. Therefore, as long as the customer has good credit and has the ability to repay the principal and interest of the loan on time, he or she can generally apply for a car loan smoothly. Everyone also needs to note that if a couple applies for a car loan together, the loan handling bank (auto consumer finance company) will naturally check the credit report of both spouses when reviewing it, just like a married person applying for a home loan. , it doesn’t work if one of the spouses has a bad credit report. When both husband and wife apply for a loan together, it is recommended that the party with better credit conditions be the primary borrower.

According to different repayment periods, they can be divided into short-term loans, medium-term loans and long-term loans.

1. Short-term loans

refers to loans with a loan period within 1 year (including 1 year). Short-term loans are generally used for the borrower's working capital needs in production and operations. The currencies of short-term loans include RMB and major convertible currencies of other countries and regions.

2. Medium-term loan

refers to a loan with a term of 1-5 years. It is one of the types of loans classified according to their term. Medium-term loans are one type of loan classified according to its term. Loan terms range from 1 to 5 years.

3. Long-term loan

It is a credit with a loan term of more than five years. Bank loans are divided into long-term credit and short-term credit according to the length of the loan period. The specific division methods differ in different countries and in different periods in the same country. The general classification period is: more than five years as long-term credit, more than one year to less than five years as medium-term credit, and less than one year as short-term credit.

Bank loan refers to an economic behavior in which an individual or enterprise lends funds to a bank at a certain interest rate to individuals or enterprises in need of funds in accordance with the policies of the country where the bank is located, and repays the loan within an agreed period.

Self-operated loans, entrusted loans and specific loans:

Self-operated loans refer to loans issued independently with funds raised by the lender in a legal manner, and the risks are borne by the lender. And the lender will recover the principal and interest.

Entrusted loans refer to funds provided by clients such as government departments, enterprises, institutions, and individuals, and the lender (i.e., the trustee) determines the loan object, purpose, amount, period, interest rate, etc. Issue, supervise the use of, and assist in the recovery of loans. The lender (trustee) only charges a processing fee and does not bear the risk of the loan.

Specific loans refer to loans issued by state-owned commercial banks upon approval by the State Council and taking corresponding remedial measures for possible losses caused by the loans.

Article 8

Short-term loans, medium-term loans and long-term loans:

Short-term loans refer to loans with a term of less than 1 year (including 1 year) loan.

Medium-term loans refer to loans with a loan term of more than 1 year (exclusive) and less than 5 years (including 5 years).

Long-term loans refer to loans with a loan term of more than 5 years (excluding 5 years).

What procedures are required to obtain a loan to buy a car after marriage

The first step: the lender submits the application materials for a loan to buy a car to the bank; the second step: the bank checks the materials submitted by the lender Conduct a preliminary review; the third step: the bank conducts a credit investigation and customer evaluation of the lender; the fourth step: the bank approves the loan application that passes the preliminary review and credit investigation and meets the loan conditions; the fifth step: if it passes the approval, notify the borrower to apply Contract signing, loan, mortgage or pledge and other related procedures; if it fails to pass the examination and approval, an explanation must be provided to the borrower; Step 6: After the loan contract takes effect, the handling bank will issue the loan. A special lending method is adopted, that is, according to the loan contract, the handling bank directly transfers the loan to the account of the dealer where the borrower purchases the car. "Interim Measures for the Management of Personal Loans": Article 29 The lender shall, in accordance with the loan contract, manage and control the payment of loan funds through entrusted payment by the lender or independent payment by the borrower. The lender's entrusted payment means that the lender pays the loan funds to the borrower's transaction partner that meets the purpose stipulated in the contract based on the borrower's withdrawal application and payment entrustment.

The borrower's autonomous payment means that the lender will directly release the loan funds to the borrower's account based on the borrower's withdrawal application, and the borrower will autonomously pay to the borrower's transaction partner that meets the purpose specified in the contract.

What should a couple prepare for a car loan?

If you are married now and want to buy a vehicle, but don’t have enough money to take out a mortgage, will you need the corresponding materials from your spouse when applying for a mortgage loan?

1. Do married people need documents from their spouse to buy a car with a loan?

Must provide it. The borrower must be a permanent resident of the location where the lending bank is located and have full civil capacity. The term of automobile consumer loans is generally 3 years, and the maximum term is no more than 5 years.

1. The lender needs to provide ID card, household registration book, marriage status certificate, valid income certificate or other valid proof of repayment source, and real estate certificate;

2. If you are married When a couple purchases a car and applies for a car loan, they need to present the spouse’s workplace, phone number, household registration book, house book and bank records, etc.;

3. Requiring the lender to produce proof of real estate does not necessarily mean that Mortgage, but can be used as an important credit assessment to understand whether the borrower has the ability to repay, and the vehicle purchased by the prospective owner has been used as the bank's mortgage when applying for the loan;

2. Buying a Car with a Mortgage

It means that the borrower who applies to buy a car pays part of the down payment first, and the lender issues the remaining part to the car buyer in installments. Buying a car with a mortgage means that the borrower who applies to buy a car pays part of the down payment first, and the lender provides the remaining part as a loan in installments to the car buyer.

That’s it for the introduction of how to get a car-buying couple’s loan.