There are usually six periods, 12, 24, 36, 48 and 60, that is to say, they range from six months to five years, but they are usually 1-3 years, and the longest period is no more than five years.
Usually, when buying a car loan, you can choose to repay the principal and interest in one lump sum or in installments. Usually, 4S stores don't directly say what the interest is, but rename it as handling fee.
We can take the loan of 654.38 million yuan, the procedure of 5000 yuan, and the installment of two years as an example:
One-time repayment of principal and interest, with an initial handling fee of 5,000 yuan, and 654.38+10,000 yuan paid off in two years. According to the formula: annual interest rate = interest/principal/installment years, the calculated interest rate is 2. 5%. This is also the data calculated for you by the sales staff in the 4S shop with paper and pen. It looks low and acceptable.
Type of automobile loan
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.
The specific steps of buying a car by credit card in installments are roughly as follows:
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 will fill in the installment order of car purchase at the dealer with his ID card, and the bank background will review it.
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.
Finally, I can drive the car away smoothly.
Application material
1. Original ID card, household registration book or other valid proof of residence, and provide its copy;
2. Proof of occupation and economic income, and running list of personal accounts in recent 6 months;
3 car purchase agreement, contract or letter of intent signed with the dealer;
4. Other documents required by the cooperation agency.
Treatment process
First of all, the lender needs to prepare ID card, residence certificate, work certificate, loan use certificate and other supporting materials, go to a bank, fill out an application form and fill out a contract.
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 the loan is unsecured, there is no need to sign such a contract.
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.
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.