If your credit card is in arrears, you can borrow money to buy a car. However, we need to remind everyone that if the credit card debt is too high and does not match the income certificate provided by the applicant, and the applicant's total asset-liability ratio is too high, the loan application may not be passed.
When buying a car with a loan, you can choose to go to the bank to handle the loan formalities, or you can choose to handle the auto finance loan in a 4S shop. For the former, the overdue credit card is more serious, which may affect the bank's lending. If you choose a car financing loan from a store in 4S, you usually can't apply for a loan to buy a car if your credit card is in arrears. Let's talk about bank loans and auto financing loans respectively.
I. Bank auto loans
The car loan service launched by the bank has higher requirements for individuals, requiring borrowers to have a stable income and a good credit report, so credit card arrears may affect bank car loans.
When you go to the bank to apply for a car loan, you need to check the good car again, negotiate the car price with the 4S shop, then contact the bank to apply for a loan service, and submit relevant information according to the regulations of the bank. The loan amount will be directly allocated to the 4S store without going through the borrower's hand. After the loan is issued, the borrower needs to repay the principal and interest of the loan according to the regulations of the bank, and will charge interest when the bank handles the car loan.
Second, auto financing loans.
Almost every automobile manufacturer has corresponding automobile financial services. In order to improve their competitiveness, many auto finance companies have introduced interest-free loan services, such as 50,000 interest-free loans for two years and 60,000 interest-free loans for three years. Interest will not be charged for interest-free loans, but 4S stores will charge mortgage fees. The operation process is as follows.
1, you need to look at the car in the 4S shop first, and then talk about the car price.
2. If you choose auto financing loan service again, you can choose according to your actual situation. The threshold of auto financing loan is lower than that of banks. Even if your personal credit card is in arrears, you may still use the loan service.
3. Pay the down payment. After the car buyer pays the down payment, the staff will start to handle the loan procedures for the customers, and individuals only need to follow the tips of the staff. Under normal circumstances, the staff can see whether the loan is approved or not within two hours after submitting the personal loan application.
4. After the auto financing loan is successful, the car buyer can drive away the purchased vehicle and start to repay the loan principal and interest in the following month.