Any China citizen who has a permanent residence in China, a local permanent residence or a valid residence status, has full capacity for civil conduct and meets the following conditions can apply for a personal car consumption loan of Happiness Express.

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

2. Abide by the law, and have no illegal acts and bad credit records;

3. It can provide effective rights pledge or collateral recognized by the bank or a third-party guarantee with compensatory ability;

4. If it is an "intermittent" loan, it is also necessary to hold a car purchase agreement or a car purchase contract signed with a special dealer;

5. Open a personal settlement account in China Industrial and Commercial Bank, and agree that the bank will deduct the loan principal and interest from its designated personal settlement account;

6. Other conditions required by the bank.

II. Loan amount

If the loan is secured by pledge, or if the bank or insurance company provides joint liability guarantee, the maximum loan amount can reach 8% of the car purchase price;

if the purchased vehicle or other property is used as collateral, the maximum loan amount can reach 7% of the purchase price;

if it is guaranteed by a third party (except banks and insurance companies), the maximum loan amount can reach 6% of the car purchase price.

III. Loan Term

Generally, the loan for automobile consumption is 3 years, and the longest is not more than 5 years (inclusive).

IV. Loan interest rate

The auto consumption loan is calculated according to the loan interest rate for the same period stipulated by the People's Bank of China. In case of interest rate adjustment during the loan period, if the loan term is less than one year (inclusive), it shall be calculated according to the contract interest rate; If the loan period is more than one year, it will be calculated by stages, and the new interest rate will be implemented at the beginning of next year according to the corresponding interest rate grade.

v. loan process

1. The borrower submits the following information to the bank:

(1) loan application approval form;

(2) my valid identity certificate and a copy;

(3) the original and photocopy of the spouse's valid identity document and the written certificate of consent to mortgage;

(4) proof of residence address (household registration book or receipts for rent, water, electricity and gas charges in the last three months);

(5) proof of occupation and income (original and photocopy of work certificate; The bank will issue a salary passbook, etc.);

(6) Effective contact information and telephone number;

(7) provide a down payment voucher of not less than the specified proportion;

(8) Proof of loan guarantee;

the loan guarantee can be pledge of rights, mortgage guarantee or third party guarantee.

in the case of pledge guarantee, the scope of pledge includes the savings deposit certificate (discount) issued by ICBC by the borrower or the third party, voucher-type treasury bonds, registered financial bonds, and the savings deposit certificate (discount) issued by local commercial banks that have signed a pledge stop payment guarantee agreement between banks;

if the mortgage of real estate is adopted, the mortgaged real estate shall be the house with free property rights in the name of the borrower himself or his immediate family members and without other pledges, and the full property insurance shall be handled.

if the third-party guarantee method is adopted, the written document of the guarantor's consent to the guarantee, the original and photocopy of the guarantor's identity certificate, relevant credit certification materials, etc. shall be provided.

(9) Personal settlement account voucher opened in ICBC;

(1) other information required by the bank.

2. after the application materials submitted by the borrower are approved by the bank, both parties sign a loan contract and a guarantee contract, and go through relevant notarization and mortgage registration procedures.

3. The car loan is directly transferred to the car dealer's account by the bank.

VI. Other

Personal automobile consumption loans can be divided into two modes: direct passenger mode and indirect passenger mode:

1. Indirect passenger mode: the borrower goes to the ICBC special automobile dealer to buy a car, submits relevant loan application materials, and the automobile dealer transfers it to ICBC to apply for a loan. After the approval of loan investigation, banks sign loan contracts and guarantee contracts, and go through notarization and insurance procedures.

2. Direct customer service: the borrower directly submits the application materials for auto loan to ICBC, and the bank signs the loan contract and guarantee contract after the loan investigation and approval. The borrower will go to ICBC's special car dealer to buy a car. The car loan is directly transferred to the car dealer's account by the bank.