1. Article 1. Auto loan refers to the loan granted by the lender to the borrower for the purchase of cars (including used cars), including personal car loans, dealer car loans and institutional car loans.
Article 2 The term "lender" as mentioned in these Measures refers to commercial banks, rural cooperative banks, rural credit cooperatives and non-bank financial institutions established in People's Republic of China (PRC) according to law and approved by the China Banking Regulatory Commission and its dispatched offices to engage in RMB loan business.
3. Article 3. The term "self-use vehicles" as mentioned in these Measures refers to non-operating vehicles purchased by borrowers through auto loans; Commercial vehicles refer to for-profit vehicles purchased by borrowers through car loans; Used car refers to a car that has changed its ownership and gone through the transfer formalities according to law from the date of registration to the date of reaching the national compulsory scrapping standard; New energy vehicles refer to vehicles that use new power systems and are completely or mainly driven by new energy, including plug-in hybrid (including extended range) vehicles, pure electric vehicles and fuel cell vehicles.
4. Article 4. The interest rate of auto loans shall be subject to the loan interest rate regulations published by the People's Bank of China, and the method of interest calculation and settlement shall be determined by both borrowers and borrowers through consultation.
Article 5. The loan term of auto loan (including extension) shall not exceed 5 years, of which the loan term of used car loan (including extension) shall not exceed 3 years, and the loan term of dealer auto loan shall not exceed 1 year.
Article 6. Lenders and borrowers should follow the principles of equality, voluntariness, honesty and credit.
Automobile loan processing flow
1. First, the lender is required to prepare the ID card, residence certificate, work certificate, loan use certificate and other supporting materials, go to the bank, fill out an application form and fill out a contract.
2. Then, wait for the bank's pre-loan qualification investigation and approval. If the lender meets the loan conditions stipulated by the bank, the bank will inform the lender to fill out some loan forms. If the loan applied by the lender needs mortgage or guarantee, it is also necessary to sign a guarantee contract and a mortgage contract, and go through the mortgage registration procedures; If so, there is no need to sign such a contract.
3. Secondly, banks issue loans to lenders. Generally, banks will lend money within 2 to 3 weeks or 1 month after the approval is completed, and the loan can be released within 1 day at the earliest.
4. Finally, the borrower will pay the down payment to the car dealer, and handle the car pick-up formalities with the passbook and the car pick-up note issued by the bank. In the process of applying for personal automobile consumption loan, the applicant needs a copy of ID card, household registration book, marriage certificate, income certificate, bank statement, real estate license and so on.
Can I still apply for a car loan if my credit card has a record of overdue repayment?
Yes, but the degree of credit will affect the loan application.
The Measures for the Administration of Automobile Loans have corresponding provisions:
Article 9 A borrower applying for an individual car loan shall meet the following conditions:
(1) People's Republic of China (PRC) citizens, or Hong Kong, Macao and Taiwan residents and foreigners who have lived in People's Republic of China (PRC) for more than one year (including one year);
(2) Having a valid identity document, a fixed detailed address and full capacity for civil conduct;
(3) Personal legal assets with stable legal income or sufficient to repay the loan principal and interest;
(4) Personal credit is good.
Extended data:
Relevant laws and regulations of the Measures for the Administration of Automobile Loans:
Twenty-second car loans should be issued in accordance with the requirements of the maximum loan ratio, and the proportion of the amount of car loans issued by lenders to the price of cars purchased by borrowers should not exceed the requirements of the maximum loan ratio.
The requirements for the maximum loan payment ratio shall be stipulated separately by the People's Bank of China and the China Banking Regulatory Commission according to the actual situation of macro-economy and industry development.
Article 23 A lender shall establish a borrower's credit rating system, prudently use external credit rating, and determine the borrower's credit rating by combining internal rating with external rating. For individual borrowers, the credit rating should be determined according to their occupation, income status, repayment ability, credit record and other factors.