First of all, it is necessary to know whether the beneficiary of car installment payment is a bank or a financial institution, because many banks now have a higher threshold for car loan, and more financial companies, especially those in the same department as car manufacturers, have begun to handle convenient loan procedures for customers.
Secondly, the requirements for car buyers: generally, the wage income is normal, preferably provident fund, real estate or married. Of course, if you have other written documents that can prove the strength of your paid loan, that's fine.
The down payment of a loan to buy a car is mainly determined by the individual's financial situation. Under normal circumstances, the minimum down payment for car loans is 30%, and car buyers can arrange the down payment ratio for car loans according to their own income and investment plans. In addition, the minimum down payment of car loans will be different with different loan methods.
Extended data:
Loan to buy a car down payment:
1. Where the purchased vehicle or other real estate is mortgaged to apply for a loan, the down payment shall not be less than 30% of the purchase price, and the loan amount shall not exceed 70% of the purchase price.
2. Where a loan is applied by pledge or a bank or insurance company provides joint liability guarantee, the down payment amount shall not be less than 20% of the car payment, and the loan amount shall not exceed 80% of the car payment.
3. If a loan is applied by means of third-party guarantee, the down payment amount shall not be less than 40% of the car payment, and the loan amount shall not exceed 60% of the car payment.
In addition, the loan period for buying a car is generally 3 years, and the longest is no more than 5 years. The provisions of the loan term may vary according to the qualifications of borrowers. You usually don't need to mortgage anything else to buy a car with a loan. Collateral is generally a purchased car. However, borrowers are also required to have a certain repayment ability, and they can show their real estate license to the lending institution to prove their repayment ability, which may speed up the loan approval.
References:
Baidu encyclopedia-loan to buy a car