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Second, how to buy a car with a loan in Wuhan

Personal automobile consumption loan is a loan issued by Wuhan Bank to the applicant to buy a car for personal use.

Product characteristics of Wuhan automobile loan

(1) High loan amount: The maximum loan amount can reach 80% of the price of the purchased vehicle (excluding various surcharges and insurance premiums, etc.). );

(2) Long-term: up to 5 years.

Wuhan automobile loan application conditions

(1) The age is between 18 (inclusive) and 60 (inclusive);

(2) Identity certificate, household registration certificate and marriage certificate;

(3) proof of economic income;

(4) down payment receipt, car purchase contract or car purchase agreement;

(5) Effective guarantee recognized by the bank;

(6) Other conditions stipulated by the bank.

Noun interpretation

Auto loan refers to the loan granted by the lender to the borrower to buy cars (including used cars), including personal auto loans, dealer auto loans and institutional auto loans.

Lenders refer to commercial banks, urban and 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.

Self-use cars refer to non-profit cars 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 gone through the formalities of ownership change and transfer according to law from the date of completion of motor vehicle registration to one year before the specified retirement period.

A. automobile consumption loan

For many consumers who are inconvenient or unable to withdraw so much cash at one time, car loans undoubtedly provide a way to enjoy products in advance. The formal ways of auto loans mainly include bank auto loans, credit card auto loans and auto financing auto loans. Each of the three methods has its advantages and disadvantages. Consumers should choose according to their own situation and local loan policies.

1. Bank car loan

At present, bank auto loan business is no longer the first choice for the general public. Although it has the advantages of large loan amount, long loan time and no automobile brand requirements, the procedures are more troublesome and usually require higher fixed or cash assets of the lender.

This way is more suitable for consumers who buy luxury brands. On the one hand, they have strong economic backing (including real estate, companies, financial investment projects, securities certificates, etc. On the other hand, they are not very sensitive to bank interest (compared with private lending rates, loan lines can generate more income in the hands of car buyers). On the other hand, direct bank lending also avoids more expenses incurred by auto financing companies or guarantee companies.

2. Credit card car loan

The popularity of credit cards has brought a lot of convenience to early consumption. The most obvious advantage of credit card car loan is the loan interest rate. From the perspective of loan interest rate alone, credit card installment has great advantages. Even some banks have launched free-of-order activities with cooperative automobile manufacturers from time to time, which undoubtedly reduces the burden of car purchase for many consumers.

At the same time, credit card car purchase usually does not need to provide real estate guarantee, but only requires the car buyer to have a legitimate occupation and sufficient fixed income (if you have a fixed residence and are married, it will be easier to apply for a car loan with a credit card).

Credit card car loan does not charge interest, but all loan fees need to be paid to the bank in advance in one lump sum, and usually 12, 24, 36 months repayment options are provided. From the perspective of the proportion of handling fees, it is more cost-effective to choose 12 months or 24 months. /kloc-the handling fee for 0/2 months is usually 3%-3.5%, and the handling fee for 24 months is about 7%-7.5%. The handling fee of 36 months is relatively high, usually 10%- 12%. Although under the banner of interest-free, in fact, there is little difference between the three-year handling fee and the three-year interest rate.

Credit card car loan is flexible and convenient. You can fill in the form directly at the car dealer and submit it to the bank for review (users with large overdraft limit can even dispense with this procedure). The procedure is relatively simple, and no guarantee or mortgage is needed. However, credit card car loans are not necessarily suitable for everyone, because many banks have designated cooperative brand models, which undoubtedly limits consumers' choices.

At the same time, the credit card loan also needs to mortgage the vehicle ownership to the bank (the loan will not be returned to the owner before it is fully paid off), and it needs to purchase the full vehicle insurance items corresponding to the installment of the credit card car loan, such as car damage insurance, burglary rescue (or GPS charging service), etc. From the normal channel, the general car dealers don't charge a lift fee, but the credit card car loan can only be driven away after handling the license plate, so many dealers take the opportunity to charge the service fee of consumers.

. Auto finance auto loan

With the popularity of automobile consumption, many automobile brands have also set up their own automobile finance companies. For example, familiar brands such as GM, Ford, Volkswagen, Toyota, Honda, Nissan and Chery all have their own auto financing companies, which can provide services for consumers to buy cars.

Car financing car loan does not need any guarantee from the car buyer, as long as it has a fixed occupation and residence, stable income and repayment ability, good personal credit, and is close to credit card installment car loan. In addition, there is no local household registration limit for auto financing auto loans, and only the water/electricity/gas/telephone payment documents in recent months are needed.

The down payment ratio of an auto financing company can generally start from 20%, and the repayment period is 1-5 years. Although the interest rate is higher than the bank car loan in the same period, the repayment is more flexible, and you can even apply for an extension and flexible final payment. In case of promotional activities of automobile manufacturers, you can also enjoy a one-year 0 interest rate discount, which reduces the burden on car owners.

The financial plan of a car manufacturer is still very attractive after the discount.

Auto financing companies, like the credit card car loan process, also need to provide designated insurance items during the loan period and mortgage the vehicles to the finance company. If you enjoy the discount of 0 interest rate, there will be some discounts on the discount range of vehicles. Like credit card car loans, cars borrowed by auto finance companies need to be licensed before they can drive away, and there are generally some licensing service fees. In addition, auto financing companies can only provide loans to their models, which is narrower than credit cards or bank car loans in terms of vehicle selection.

Summary: Through the above loan calculation table, we have basically understood the process and interest level of the three major car loan methods. From various comparisons, credit card car loan has become an ideal choice, and car financing car loan has gradually won a part of the car loan market with more activities. Bank car loans are usually oriented to the mid-to high-end market, so it is basically difficult to pass small short-term loans.

3. What are the conditions and procedures for buying a car by mortgage in Wuhan?

Application materials to be provided:

Personal valid identity document. Including resident identity cards, household registration books, etc. If the borrower is married, the identity certificate of the spouse shall be provided;

Certificate of intention to buy a car issued by the car dealer;

Household registration certificate or long-term residence certificate;

Personal income certificate, and provide family income or property certificate when necessary;

If the purchased vehicle is secured by other means than mortgage, relevant materials for the guarantee shall be provided;

Proof of down payment for car purchase;

If the vehicle purchased by the loan is a commercial vehicle, it is also necessary to provide proof that the purchased vehicle can be legally used for operation.

4. What should I do to buy a car loan in Wuhan?

First of all, pay attention to buying a car loan. According to your own situation, there are generally four payment methods: apply for a car loan, loan first and then choose a car; Buy a car with a credit card, choose a good model, then ask for an increase in the credit card limit to pay the car price, and then repay it monthly; You can also go to the car dealership to choose a car, and then there may be car type restrictions; You can also go to a financial leasing company, that is, someone else buys the car first and then gives it to you. You pay back the money regularly until you mortgage the car. Personally recommend car loans, with fewer types of cars and more interest conversion. Pay attention to the current market, in fact, either the car price itself is high, or the backlog of models. For more details, please visit /24CAet.