Auto loan refers to the loan granted by the lender to the borrower who applies for buying a car, also known as automobile mortgage. Generally speaking, state-owned banks are the first choice applicants for auto loans.

what are the car loans of state-owned banks?

China Construction Bank

China Construction Bank's auto loans also divide auto loans into self-use cars and commercial vehicles. The loan amount for self-use vehicles shall not exceed 8% of the purchased vehicle price, and the longest period shall not exceed 5 years. The number of commercial vehicles shall not exceed 7% of the purchased car price, and the longest period shall not exceed 3 years.

bank of communications

the longest loan period of bank of communications car loan is 5 years, and the maximum amount is 8% of the total car price. This product is mainly used to buy family cars. In addition, you can negotiate the repayment plan with Bank of Communications according to your actual needs, financial status and credit history.

Postal Savings Bank

The car loan of Postal Savings Bank can provide you with a loan of up to 1.5 million yuan, but the amount cannot exceed 7% of the total car price. The longest loan period is five years. It is understood that the bank will issue approval opinions within 2 working days after receiving the loan application at the earliest.

Industrial and Commercial Bank of China

There are two loan models for ICBC auto loans: direct customer loans and indirect customer loans. Direct customer type means that the borrower directly applies for a car loan from the bank. Guest service means that borrowers apply for loans through car dealers. The maximum loan amount of this product is 8% of the total car price, and the longest term is 5 years.

Bank of China

Bank of China auto loans divide borrowers into ordinary customers and quality customers. The general customer loan amount is 6% of the total car price, with a guarantee of 7% and a term of 3 years. The loan amount for quality customers is 7% of the total car price, and the longest term is 5 years.

Agricultural Bank

Agricultural Bank of China can provide loans to China citizens and foreigners who have lived in China for more than one year. The loan amount is 8% of the purchase price, and the longest loan period is five years. Commercial vehicle loan amount is 6% of the purchase price, and the longest term is 3 years.

million car purchase subsidy