When banks apply for loan extension, the extension of short-term loans shall not exceed the original loan term, the extension of medium-term loans shall not exceed half of the original loan term, and the extension of long-term loans shall not exceed 3 years.
When applying for extension, it should also be noted that the extension period is also related to the loan model. If the vehicle you bought by loan is a new car, after applying for extension, the extension period plus the original loan period can not exceed 5 years at most; If the vehicle you bought with the loan is a used car, after applying for extension, the extension period plus the original loan period can not exceed 3 years at most.
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.
Potential borrower
The borrower must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.
deadline
The term of automobile consumption loan is generally 1-3 years, and the longest is no more than 5 years. Among them, the term of second-hand car loan (including extension) shall not exceed 3 years, and the term of dealer car loan shall not exceed 1 year.
Letter of credit clause
1. Have valid identification and full capacity for civil conduct;
2. Can provide a fixed and detailed address certificate;
3. Have a stable occupation and the ability to repay the loan principal and interest on schedule;
4. Personal social credit is good;
5. Holding a car purchase contract or agreement approved by the lender;
6. Other conditions stipulated by the Cooperation Organization.