If you don't have a job, you can buy a car by stages. However, if you don't have a job, it will be more troublesome to apply for a car installment loan from a lending institution. If you have enough money when buying a car, it is recommended to buy the car in full. Because when buying a car by installment, the lending institution will charge a certain percentage of loan installment interest to the car buyer, and the final expenditure of buying a car in full will be lower than that of buying a car by installment. When buying a car, you can apply for installment repayment from the bank or from the loan company. Usually, the interest rate of installment loans applied in banks is relatively low, but the bank's audit conditions are relatively strict. If you apply for a loan from a loan company, the application conditions will be looser than that of a bank, but the interest charged for installment loans will be higher than that of a bank. The loan applicant can choose the car purchase method and loan method according to his own actual situation. Usually, banks and loan companies require lenders to have a stable job. Because a stable job means a stable source of income, and a stable source of income means a stable repayment ability. Without a job, after handling the loan installment, I can't repay the loan institution at a fixed time every month. For the sake of risk control, lending institutions will generally reject the loan application of applicants who have no jobs. If you can't get a loan because you don't have a job, you can mortgage the loan through fixed assets or guarantee the loan through a guarantor or guarantee institution. If you mortgage a fixed asset loan, you must first go to the authoritative department to accurately evaluate the value of the fixed assets that individuals need to mortgage, and then issue an asset evaluation report before applying for a loan. If a loan is secured through a guarantor or a guarantee institution, a guarantee agreement must be signed with the guarantor. Guarantors or guarantee institutions should also have the strength to guarantee others. In addition, guarantee institutions generally charge guarantee fees, which are expensive.

The content of this article comes from People's Republic of China (PRC) Financial Code: Application Edition by China Law Publishing House.