You can apply for a car loan after applying for a mortgage. \x0d\ After applying for a mortgage, an individual can apply for a car loan again if he still has the ability to repay the principal and interest. \x0d\ However, it should be understood that applying for a car loan, like a mortgage, requires the applicant to prepare a down payment of not less than 30% of the total price of the car purchased. \x0d\ As long as the applicant has a good economic situation and a high income, he can apply for a loan to buy a car even if he has just applied for a loan to buy a house. Before applying for a car loan, it is recommended to consult the local loan financial institution before handling it.
Is there a conflict between car loan and mortgage?
There is no conflict between car loan and mortgage. You can apply for a mortgage if you apply for a car loan. What generally affects car loans or mortgages is the borrower's debt ratio. Debt ratio refers to the ratio of monthly expenditure to income of borrowers, and banks will evaluate borrowers' repayment ability according to their debt ratio. If the borrower's income is not high and there are many debts to be repaid, resulting in a debt ratio of over 50%, the bank may refuse the loan.
What is a car loan:
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.
Specific steps of buying a car by credit card in installments:
1. The cardholder (or applicant) calls the bank's credit card center or goes to the local bank to find out whether he can apply for a credit card car loan.
2. The cardholder holds his ID card to the dealer's site to fill in the installment order for car purchase and submit it to the bank for review.
3. After the order is approved, the cardholder pays the down payment and goes through the normal car purchase procedures.
4. After the vehicle is licensed, the cardholder needs to go to the bank to go through the mortgage formalities and purchase the required auto insurance.
5. I can finally drive away smoothly.
What is a mortgage loan?
It is a kind of personal housing loan and consumer loan, which refers to the loan issued by the lender to the borrower for the purchase of ordinary housing for personal use. When a lender issues a personal housing loan, the borrower must provide a guarantee. If the borrower fails to repay the principal and interest of the loan at maturity, the lender has the right to dispose of its collateral or pledge according to law, or the guarantor shall be jointly and severally liable for repaying the principal and interest.
The loan object is a natural person with full capacity for civil conduct. The loan conditions are that urban residents use it to buy ordinary houses for their own use, have a house purchase contract or agreement, have the ability to repay the principal and interest, have good credit, and have a down payment of 30% of the funds needed for house purchase and a loan guarantee recognized by the bank.
Personal housing loans are limited to the purchase of self-occupied ordinary housing and urban residents' self-occupied housing, and may not be used to purchase luxury housing.
Which approval is strict, mortgage or car loan? Can mortgage and car loan be handled together?
; ? Buying a house and a car is a big deal for ordinary families. If you want to buy a car in full, you can often do it with a little effort, but the pressure of buying a house in full is very great, so it is more appropriate to choose a loan. Which approval is strict, mortgage or car loan? Can mortgage and car loan be handled together?
Which approval is strict, mortgage or car loan?
If you want to apply for mortgage and car loan, the requirements in the credit information section are the same if you apply in the bank. The number of overdue loan applicants in the past two years cannot exceed 6 times, and there cannot be three consecutive overdue cases. The overdue time cannot exceed 90 days; There are also requirements for repayment ability, which require a stable and legal source of work and income and the ability to repay the principal and interest on time.
However, there are many differences between mortgage and car loan. The loan period of mortgage is longer, up to 30 years, and the interest rate is lower. The term of car loan is short, generally 2-5 years, and the loan interest rate is high.
Mortgage is divided into commercial bank loans and provident fund loans. Most borrowers use the repayment method of "equal principal and interest", and the repayment pressure in the early stage is relatively small.
Because the amount of mortgage loan is generally higher than the amount of auto loan, the requirements for mortgage loan approval are higher.
In many areas, the policy of limited purchase has lower restrictions on applying for mortgages. For example, if you buy a house with a loan in the same area, the down payment ratio of the second suite will be higher. If you buy the third suite and the first two suites are not sold, you can't apply for a mortgage.
Although both mortgage and car loan have requirements for repayment ability, the mortgage requirement is higher, the monthly income of the borrower must be twice or more than twice the monthly payment, and the requirements for debt ratio are more stringent.
Speaking of whether mortgage and car loan can be handled together, if the loan applicant has good credit information, low debt ratio and strong repayment ability, they can be handled at the same time, but at the same time, banks or other lending institutions may have stricter requirements for the applicant.
Which approval is strict, mortgage or car loan? I believe everyone understands that loans with large amount and long repayment period will definitely have higher requirements in order to control risks.
Is there a conflict between car loan and mortgage? Can I still borrow money to buy a car with a mortgage?
; ? Many friends want to borrow money to buy a car after buying a house, but they are worried that the bank will not approve the loan because they have a mortgage. So can I still buy a car with a mortgage loan? Is there a conflict between car loan and mortgage? Don't worry, you will know the answer after reading this article.
The first thing you can be sure of is that you can continue to buy a car with a mortgage loan. There is no conflict between car loan and mortgage. When we borrow money, banks pay more attention to our credit information. If you have been overdue before, it will be difficult to get a loan. Secondly, it is also important to have a stable income from work, so the best way is to work in the bank for a month or to issue an employment certificate and income certificate stamped with the official seal in the company where you work, so that you can get a car loan even if you have a mortgage.
Secondly, if our monthly repayment accounts for 50% of our monthly income, the bank is also likely to refuse our loan, because the bank needs to ensure that you have enough money to live while making monthly repayment, so that you can make long-term repayment. If unfortunately the bank doesn't approve our car loan application, we can try to take factory financing when buying a car. Generally, the passing rate of factory finance is relatively high, and factory finance does not pay much attention to credit reporting. They value your ability to repay more.
Finally, I still need to remind everyone that it is not recommended to use provident fund loans to buy a car, because provident fund loans can only be used for housing-related aspects. It is illegal to buy a car with a provident fund loan. Serious cases may even be prosecuted by the provident fund management center, which is not worth the loss.