With the continuous development of economy, all kinds of roads extend in all directions, and it will be much more convenient to have a car. With the improvement of people's living standards, more and more people want to own their own cars. At present, there are many channels to borrow money to buy a car, and you can buy a car by paying hundreds of thousands every month. So, is there a time limit for car loans?

Is there a time limit for car loan?

There is a time limit for car loans. The term of car loan is usually about 3 years, but the longest is no more than 5 years. Different loan methods stipulate different loan periods. If you choose a bank car loan, this kind of loan is generally a loan that needs collateral as collateral, and the loan period can be up to 5 years. Buying a car by installment with a credit card has lower loan application conditions and simpler procedures. The loan term is generally about 2-3 years.

Installment loan is also a very convenient way of car loan, as long as you pay attention to the credit card without bad credit history.

According to the ways of automobile installment loans in the market at present, there are bank mortgage loans, loans from automobile financial institutions and credit card installment payments, and the term is generally 1 year, 2 years, 30 months, 3 years, 4 years and 5 years. Car buyers can reasonably determine the time limit according to their own financial situation.

What conditions does a car loan require to get a loan?

1. The loan applicant is a natural person who has reached the age of 18 and has full capacity for civil conduct.

2. Valid identification, fixed address and detailed address can be provided.

3. Have a legal and stable job and income source, and have the ability to repay the loan on time.

4. Personal credit is good and there is no bad record.

5. Holding a car purchase contract, agreement or letter of intent approved by the loan handling bank.

6. Can provide collateral recognized by the loan handling bank.

However, lenders need not worry too much. In fact, after choosing the right loan method and car brand when buying a car, you can ensure that you have a good personal reputation and excellent repayment ability, and the probability of loan for five years is higher.