In terms of loan interest rate, according to the regulations of the central bank, the benchmark interest rate for auto loans is also implemented, but major financial institutions can fluctuate within a certain range.
Generally speaking, customers with excellent conditions can enjoy the benchmark interest rate or float down about 10%, while ordinary customers need to float up about 10% on the basis of the benchmark interest rate.
Auto loan refers to the loan issued by the lender to the borrower who applies for buying a car, also called auto mortgage.
Object of loan: The borrower must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.
Loan conditions: the borrower has a stable job, the ability to repay the principal and interest of the loan, and good credit; Can provide recognized assets as collateral or pledge, or a third person with sufficient compensatory ability as a guarantor to repay the principal and interest of the loan and bear joint liability.
Loan amount: The maximum loan amount generally does not exceed 80% of the price of the purchased car. Loan Term: The loan term for automobile consumption is generally 1-3 years, and the longest is no more than 5 years.
The risk of car loan is faster and higher than that of mortgage. The release of the risk content of car loan makes the default rate of banks appear. The ultimate victim of car loan bad debts is the bank itself. Faced with the ruthless risk of car loans, banks have no choice but to bear all the bad debt losses. The emergence of a large number of car loan risks has made banks raise the threshold of car loans to varying degrees and strictly approve car loans.
To apply for auto consumption loan, if the borrower is a legal person, it is required to provide business license, organization code, tax registration certificate, etc. In addition to ID card, household registration book, income statement and asset certificate, the legal person must be himself.
Buying a car with interest-free loan is a preferential scheme of car loan proposed by dealers according to market demand, which reduces the pressure on consumers to buy a car to some extent. Interest-free car loan concessions are not available for all models, but there are certain restrictions.
Generally speaking, there are two conditions for applying for an interest-free loan to buy a car:
1, vehicle type restriction. Usually, interest-free car loan is a preferential scheme proposed by dealers for specific models, which is not applicable to all models.
2. The monthly repayment amount is large. Some models require consumers to pay less than 5,000 yuan per month. Comparatively speaking, this repayment method is more stressful.
Interest-free loans to buy a car are often aimed at those unpopular models, and not all models can enjoy this discount. Moreover, the models participating in interest-free loans are often sold at guided prices, rather than the quotations from dealers, and the prices are usually much higher. Moreover, even if these models have discounts, they are much less than the full car purchase.