The term of the auto loan includes six installments, 12 installment, 24 installment, 36 installment, 48 installment and 60 installment, and/kloc-0 installment is 1 month. The longest 60 issues are five years. How long the specific car loan can last is affected by the following factors:
1, the car itself
Can I borrow a car for five years? It depends on whether the purchased vehicle belongs to a relatively value-added brand. If it is BYD, MG, Roewe, Skoda, etc. , the longest loan is 3 years, and other domestic brands are 3 years. More than 3 years are generally good joint venture brands, such as Volkswagen, GM, BMW and so on. In addition, the age of the car will also affect the loan period. Generally, the loan period for a new car can be up to five years, and if it is a second-hand car loan, the loan period is no longer than two years.
2. Qualifications of the applicant
If you want to apply for a five-year car loan, banks and other lending institutions will have higher requirements for the applicant's repayment ability, occupation and credit information. In particular, the borrower's occupation must be very stable, such as civil servants, teachers, doctors and other people have the opportunity to apply for long-term car loans.
3. Car loan method
There are three main ways of car loan: credit card car purchase, bank car consumption loan and auto finance company loan. Different loan methods have different provisions on the loan term.
1) Buying a car by credit card in installments can only be divided into 36 installments, that is, three years;
2) The longest loan for automobile consumption in banks is 5 years, and some banks stipulate that it can only be loaned for 5 years;
To sum up, can I borrow a car for five years? Affected by the conditions of the car itself, the qualifications of the applicant, and the way of car loan. Can suit the remedy to the case, increase the loan life.