There is an age limit for buying a car with a loan. Take China Construction Bank as an example, it needs people with full capacity from 18 to 60. The loan amount is: if the purchased vehicle is a self-use vehicle, the loan amount shall not exceed 80% of the price of the purchased vehicle; If the purchased vehicle is a commercial vehicle, the loan amount shall not exceed 70% of the price of the purchased vehicle, and the loan amount for commercial vehicles shall not exceed 60% of the price of the purchased vehicle.
The term of the auto loan is that the purchased vehicle is a self-use vehicle, and the longest loan term is no more than 5 years; The purchased vehicle is a commercial vehicle, and the loan period does not exceed 3 years.
Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers. The interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal given by the bank to consumers, that is, borrowers, for purchasing their own cars (non-profit family cars or commercial vehicles with less than 7 seats). The higher the interest rate, the greater the repayment amount of consumers.
benchmark interest rate
According to the regulations of the central bank, the benchmark interest rate is implemented for auto loans, but financial institutions can float within a certain range of the benchmark interest rate. The term of auto loans in major banks is generally less than five years, and the interest rate of auto loans directly determines the cost of people's loans and becomes an important factor in determining whether people lend.
How to calculate the car loan interest rate
The calculation formula of monthly car loan payment: a = p (1+I) [(1+I) n-1]/N2/I.
A: Monthly contributions.
P: total donations
I: monthly interest rate (annual interest rate/12)
N: Total months of contribution (year × 12)
loan rate
The actual interest rate of car loan is set by the handling bank according to the actual situation of customers and with reference to the benchmark interest rate stipulated by the central bank. Generally, customers with excellent conditions can enjoy the benchmark interest rate or float down 10%, while ordinary customers need to float up 10% on the basis of the benchmark interest rate.
20 13 latest bank loan interest rate: benchmark floating 10%- 15%.
Personal loan car purchase business is divided into direct customers, indirect customers and credit card car loans. The direct customer type is generally a bank car loan for customers to meet directly, and the indirect customer type is generally a car loan from an auto finance company to a customer car loan.
The fees charged by banks for direct car loans include deposit, principal and interest, and 3% guarantee fee. And the bank's premium customer fees will be discounted, but the preferential policies of each bank are different.
In addition to the above fees, personal auto financing companies also need to bear supervision fees, fleet management fees and warranty renewal deposits.
And credit cards, car loans. Credit card installment car loan only provides installment payment for bank credit card users, not all conditions can be handled, and there is an audit procedure, which is difficult for credit card users with bad credit records.
Is there an age limit for buying a car loan? I am in 1992.
Yes, you must be a legal citizen with full capacity for civil conduct at the age of 18 to 65.
Automobile loan application materials:
Original ID card, household registration book or other valid proof of residence, and provide its copy.
Proof of professional and economic income, personal account flow sheet in the past 6 months.
Car purchase agreement, contract or letter of intent signed with the dealer.
Other documents required by the Cooperation Organization.
Extended data:
Introduce competition mechanism and actively cooperate with many insurance companies and distributors.
In the early days of auto loan business, most of the loan customers came from the joint promotion of insurance companies and auto dealers. Out of trust in insurance companies and distributors, some banks once ignored the direct investigation of loan customers. Due to the uneven credit status of auto dealers, there is no joint responsibility in all aspects of auto loan business cooperation.
Therefore, it creates opportunities for dealers to introduce customers to ABC unprincipled, and introduces some customers who do not have economic strength to the bank, laying a hidden danger for the timely recovery of bank auto loans. In the cooperation between banks and insurance companies, the object of "bank-insurance cooperation" is single, and most of the car loan business they do is cooperation with local "PICC", which is almost "unique".
As a result, banks rely too much on insurance companies in the process of business development and loan recovery. If the insurance company can't pay in time, it will directly lead to the increase of non-performing loans of banks, which is also one of the basic reasons for the formation of non-performing loans of banks. Therefore, only by introducing a competitive mechanism can we persist in cooperating with many insurance companies.
And according to the credit status, carefully select and clean up cooperative auto dealers, create a good business cooperation environment for the healthy development of auto loan business, completely change the passive situation of banks in business cooperation, and grasp the initiative in work.
Is there an age limit for buying a car?
There is no age limit for buying a car in full. There is an age limit for buying a car with a loan. Need 18 years old, age+loan period less than 65 years old. The following are the specific introductions of buying a car in full and buying a car with a loan: 1, buying a car in full: (1) Li Duan: buying a car in full means paying the car in one lump sum, which can avoid many problems such as handling fees and interest, and has a fast processing process and short approval time. Generally, the car can be picked up on the same day at the earliest. When buying insurance, I will not be bound by these loan contracts. (2) Disadvantages: it is not convenient to pay a large sum of money in a short period of time, and it is not convenient to turn over capital, and the purchased vehicle will enter the depreciation cycle from now on. 2. Loan to buy a car: (1) Profit side: You don't need to pay a large sum of money in a short time, you only need to pay a down payment of 20%. Some car loan institutions can even achieve "zero down payment". The remaining funds can be used for investment and wealth management to create more wealth. At the same time, it can bring a lot of convenience to buy a car with a loan and use the car in advance. (2) Disadvantages: Due to the harsh conditions for buying a car with a loan, the approval process is complicated, and there are interest and handling fees. It is easier to step into the car loan trap, such as bundling sales, and buying auto insurance in our store during the loan period.
Is there an age limit for buying a car with a loan?
There must be this. Personal car loans, such as Industrial and Commercial Bank of China and Agricultural Bank, require borrowers 18 (inclusive) to 60 (inclusive) years old, and those who are too young or too old are not eligible for car loans.
Of course, in addition to age, the borrower must have legal and valid identification, have the ability to repay the principal and interest of the loan on time, and be a local resident of the place where the loan handling bank is located. These points are indispensable. The borrower can apply for a car loan from the bank, and provide income proof, bank running water and other information.
In addition, the bank will audit the borrower after receiving the application, not only to verify the basic information and materials provided by the borrower, but also to inquire about the borrower's credit report to understand its credit status and liabilities. For this reason, if the borrower has serious bad credit, or the debt ratio exceeds 50%, there is a great chance that the loan will be refused.
As long as you apply for a car loan, no matter whether it is passed or not, as long as it is checked, a hard inquiry record of loan approval will be left on the credit report. Too many such records will increase the difficulty of handling credit business. Therefore, it is recommended that you judge whether your qualifications can handle car loans.
If you don't meet the conditions of car loan and want to own a car, you can borrow money from qualified relatives and friends to buy a car for your own use and repay the loan yourself. It should be noted that only the lender is the owner, so after the car loan is settled, remember to ask the other party to cancel the mortgage of the car and then transfer it to yourself.
Online loan big data can clearly reflect the user's recent application for online loans, whether online loans are repaid on time, and whether identity information is suspicious. You can get a detailed risk report through credit inquiry tools such as "Xiaoqi Credit Check".
Extended data:
Is there an age requirement for buying a car with a loan?
There is an age requirement for buying a car with a loan. Major banks stipulate that lenders must be 18 years old, with the upper limit of 65 years old, and the age plus the loan period should not exceed 70 years old. For example, if you are 50 years old, you can apply for a car loan for up to 20 years. The bank restricts this because of the applicant's age and financial ability. After all, after getting old, many people's income has dropped sharply, and whether they can repay on time has become a problem.
In addition to the age requirement, the loan amount and loan term are also required, with the amount not exceeding 80% of the total car price, and the term generally being 1-3 years, with the longest not exceeding 5 years. Moreover, experience feedback says that the higher the education level, the lower the threshold.
The term of the auto loan is that the purchased vehicle is a self-use vehicle, and the longest loan term is no more than 5 years; The purchased vehicle is a commercial vehicle, and the loan period does not exceed 3 years. The lender must have valid identification, fixed and detailed address and full capacity for civil conduct; Personal legal assets with stable legal income or sufficient to repay the loan principal and interest; Personal credit is good; Be able to pay the required down payment.