The repayment period of parking loan is usually long, which can be selected from 1 to 5 years, and the longest is not more than 5 years. It also supports various repayment methods, such as equal monthly payment and average capital. The guarantee method is more flexible, and mortgage, pledge or third-party guarantee recognized by the bank can be adopted.
If the applicant has already applied for a first-hand housing loan, and the purchased garage parking space is in his own community, and the loan has not been settled, then the parking space loan can be considered. According to the evaluation price of the garage parking space, the bank will generally not exceed 70% of the lower value of the transaction price and the evaluation price, and the loan period will not exceed 10 years, and it must be shorter than the remaining housing loan period.
To apply for a parking loan, the following conditions must be met: the applicant must be a permanent resident of the place where the loan bank is located, have full capacity for civil conduct, be able to provide effective guarantees, such as proof of property or proof of consumer use, have a good credit record and have no record of bad loans.