You can't buy a car with a provident fund loan. Workers who purchase, build, renovate or overhaul their own houses may apply for housing provident fund loans from the housing provident fund management center. Applicants who apply for housing provident fund loans shall provide guarantees. The risk of housing provident fund loans shall be borne by the housing provident fund management center.

legal ground

Article 26 of the Regulations on the Management of Housing Provident Fund

Workers who have paid housing provident fund can apply for housing provident fund loans to the housing provident fund management center when purchasing, building, renovating or overhauling their own houses.

The housing provident fund management center shall make a decision on whether to grant loans within 15 days from the date of accepting the application, and notify the applicant; Where a loan is granted, the entrusted bank shall go through the loan formalities.

The risk of housing provident fund loans shall be borne by the housing provident fund management center.

skill

The above answer is only for the current information combined with my understanding of the law, please refer carefully!

If you still have questions about this issue, I suggest you sort out relevant information and communicate with professionals in detail.

Can the provident fund borrow money to buy a car?

Provident fund loans cannot be used to buy a car. Provident fund is a housing provident fund stipulated by the state and paid by employees in proportion to their wages. It is mandatory, welfare, security and mutual assistance. The paid provident fund belongs to individual employees and no one else has the right to use it. The main purposes of the provident fund are: buying, building, rebuilding and overhauling self-occupied houses, repaying the principal and interest of home purchase loans, and subsidizing the rent that exceeds the family wage income.

Loan to buy a car: 1, traditional bank car loan. The traditional car loan is very strict in the loan amount and approval process, and the procedures are cumbersome, which is very troublesome for car buyers. At present, there are not many banks that carry out this business.

2. Bank credit card installment shopping. This is the main way for major banks to promote new car loans-credit card installment. Take recruitment behavior as an example. Just apply for a credit card of China Merchants Bank, and then apply for "Easy Car Purchase". The bank will increase the installment amount of its credit card according to the credit status of the cardholder, so as to meet the demand of the cardholder to buy the designated brand car during the disposal period of the designated dealer. The cardholder can repay the car purchase money in monthly installments only by paying a certain handling fee. At the same time, different car dealers will launch various promotional activities from time to time to reduce the installment fee.

3. Loans from auto financing companies. Basically, mainstream brands have their own auto financing companies. When you buy these brands of cars, you can directly borrow money from auto financing companies through 4S stores. Its approval process is particularly fast, it can pick up the car on the same day, its qualification requirements are not high, and there are many promotional activities.

4. It can be used to buy a car, but the interest rate of most products will exceed 10%, and the loan period is concentrated in about one year, which puts great pressure on the borrower's cost. Its advantage is that the approval speed is fast, and consumers can choose car brands at will.

Can housing provident fund be used to buy a car by loan?

Can housing provident fund be used to buy a car by loan?

If the provident fund loan cannot be used to buy a car, the main purposes of the housing provident fund are as follows:

1. When you need to buy a house and need a loan, you can apply for a loan (300,000 or 200,000) according to n times the balance in the provident fund account, as long as you have paid the provident fund normally for more than one year (half a year in some places) and the loan interest rate is about 30% lower than that of the commercial mortgage.

2. When building, renovating or overhauling self-owned housing, you can apply to the provident fund management center for withdrawal of the provident fund with relevant supporting documents and materials.

3 housing loans (including commercial mortgage housing loans), during the repayment period, you can use the relevant information to withdraw the provident fund to repay the loan principal and interest.

4. If your house is leased, when the monthly rent exceeds the family wage income and affects the normal expenditure, you can apply for drawing provident fund to subsidize the rent. The withdrawal and use of the provident fund must be related to housing, otherwise it can't be withdrawn (it can't be fully withdrawn until you retire and settle abroad).

What if the money is not enough to buy a car?

1, credit card car purchase by installment: The remarkable characteristics of credit card car loan are fast approval and relatively simple procedures. If consumers use a credit card loan to buy a car, they only need to use a credit card with a good credit record within the validity period, provide their ID card and apply to the card bank for car purchase by installments. Even if you don't have a credit card, you can go through the formalities of buying a car with a credit card at the car dealer, which usually takes 3-7 working days. Compared with other ways, the credit card limit is not high, which is suitable for buying a family car.

2. Auto financing company loans: The procedures for applying for auto loans through auto financing companies are relatively simple. Generally, it only takes two or three days for customers to get the car during the whole process, which is convenient and fast. The main disadvantage of this method is that the car brand is single and the interest rate is relatively high.

3. Bank car loan: The traditional bank car loan period can be as long as five years, with a higher amount and less repayment pressure. But the disadvantage is that the bank car loan interest rate needs to rise by more than 20%, and many banks basically do not implement it. In addition, strict examination and approval and long processing time are also huge shortcomings.

4. It can be used to buy a car, but the interest rate of most products will exceed 10%, and the loan period is concentrated in about one year, which puts great pressure on the borrower's cost. The purpose is to approve quickly, and consumers can choose car brands at will.

Can the provident fund borrow money to buy a car?

You can't buy a car with a provident fund loan. The long-term housing provident fund paid by the employer and its employees can only be used for the purchase, construction, renovation and overhaul of owner-occupied housing by employees, and no unit or individual may use it for other purposes.

legal ground

Article 5 of the Regulations on the Management of Housing Provident Fund

The housing accumulation fund shall be used for the purchase, construction, renovation and overhaul of owner-occupied housing by employees, and no unit or individual may use it for other purposes.

Article 26

Workers who have paid housing provident fund can apply for housing provident fund loans to the housing provident fund management center when purchasing, building, renovating or overhauling their own houses. The housing provident fund management center shall make a decision on whether to grant loans within 15 days from the date of accepting the application, and notify the applicant; Where a loan is granted, the entrusted bank shall go through the loan formalities. The risk of housing provident fund loans shall be borne by the housing provident fund management center.

skill

The above answer is only for the current information combined with my understanding of the law, please refer carefully!

If you still have questions about this issue, I suggest you sort out relevant information and communicate with professionals in detail.

Can I buy a car with a provident fund loan?

We all know that provident fund loans can be used to buy a house, but some people also lack the funds to buy a car, so they think they can use provident fund loans to buy a car? Next, I will answer this question and introduce the purpose of provident fund loans.

Provident fund loans can't buy a car. The main purpose of the provident fund is to purchase, build, rebuild and overhaul self-occupied houses, repay the principal and interest of home purchase loans, and subsidize the rent that exceeds the family wage income. Simply put, the use of provident fund needs to be related to the house. But you can withdraw the provident fund, apply for a car with a bank loan, or you can piece together a so-called provident fund loan to buy a car.

If you are short of money to buy a car, try the following methods:

1, bank credit card to buy a car in installments.

This way, the down payment is low, generally 30%, and the procedure is simple and quick, but the loan period is short and there are few optional models. You can choose this method if you want to buy a car quickly.

2. The auto financing company borrows money to buy a car.

This method is not as strict as the bank's audit, the loan method is flexible and the service is faster, but there are fewer modes to choose from, and the expected annualized interest rate of the loan is relatively high.

3, bank consumer loans to buy a car

Consumer loans can be divided into mortgage loans and loans. The expected annualized interest rate of mortgage loan is relatively low, but the owner needs to provide the house as collateral to apply for the loan, which also means that he needs to bear the risk that the mortgaged house will be confiscated if he fails to repay the loan. The borrower does not need to provide any form of mortgage or guarantee, but the expected annualized interest rate of the loan is higher than that of the mortgage loan.

This is enough for the introduction of the provident fund loan for buying a car.