Now more and more people can afford to buy a car because they choose to borrow money to buy a car. As long as they pay a part of the down payment, the rest can be repaid by installments, and they can buy their own cars on the premise of insufficient funds. So, how many years can I buy a car with a loan? Let me introduce you.
How many years can I buy a car with a loan?
At present, the main ways of automobile installment loan in the market are bank mortgage loan, automobile financing loan and credit card installment payment, and the term is generally 1 year, 2 years, 2.5 years, 3 years, 4 years and 5 years. However, the shortest term of car loan is half a year, and the longest is generally not more than five years.
If money is tight, you can extend the loan period appropriately, which can relieve your economic pressure. However, when choosing a loan bank, different banks will have different interest rate concessions, loan quotas and repayment periods. You can go to the relevant departments to find out before buying a car.
Can a 4s shop borrow a car for five years? What are the requirements for car loan for 5 years?
When we buy a car, in order to reduce the monthly repayment pressure, many people will choose to repay it for five years. To buy a car with a loan, you should know the relevant loan policies in advance. If the lending institution finds that our loan can't meet their requirements, it is likely to reject our loan request. So what are the requirements for car loan for five years?
Buying a car in a 4s shop can be loaned for five years, and a car loan for five years needs to meet the following conditions:
1. People who have the right of permanent residence or permanent residence here.
2. The age is between 18-65 years old.
3. Have a stable job and income, and need to provide a labor contract or income certificate when necessary.
4. A third-party natural person provides a guarantee for repayment of the loan principal and interest (mutual guarantee is not allowed between husband and wife).
5. The bank account has been opened.
6. During the loan period, purchase "motor vehicle consumption loan guarantee insurance" from an insurance company recognized by the bank, and continue to purchase "motor vehicle insurance".
Finally, I would like to remind you that if you use your own car when you buy a car, you can borrow it for five years when you get a loan, but the interest will be higher. If the car bought by the loan is a commercial vehicle, it can only be loaned for three years at most. When choosing a loan, everyone should try to avoid going to an unqualified loan company and avoid being cheated.
Can I buy a car in five years? What materials do you need to deal with?
Yes, the purchased vehicle is for personal use, and the longest loan period is no more than 5 years; The purchased vehicle is a commercial vehicle with a loan term of no more than 3 years; Basic rules of RNRNRN: rn 1. Loan target:/kloc-a natural person aged 0/8 to 60 (inclusive) with full civil capacity; Rn2。 Loan amount: if the purchased vehicle is for personal use, the loan amount shall not exceed 80% of the price of the purchased vehicle; If the purchased vehicle is a commercial vehicle, the loan amount shall not exceed 70% of the price of the purchased vehicle, of which the loan amount of the commercial vehicle shall not exceed 60% of the price of the purchased vehicle; Rn3。 Loan term: the purchased vehicle is for personal use, and the longest loan term shall not exceed 5 years; The purchased vehicle is a commercial vehicle with a loan term of no more than 3 years; Rn4。 Loan interest rate: subject to the loan interest rate regulations of China Construction Bank; Rn5。 Guarantee method: To apply for personal auto loan, the borrower must provide certain guarantee measures, including pure vehicle mortgage, vehicle mortgage guarantee institution, vehicle mortgage natural person guarantee and vehicle mortgage performance guarantee insurance; Rn6。 Repayment method: If the loan term is less than one year, you can use any repayment method such as monthly interest, matching principal and interest, average capital repayment, and one-time repayment of principal and interest. If the loan term is more than one year, the method of equal principal and interest and average principal repayment can be adopted. The specific repayment method shall be negotiated between the handling bank and the borrower and agreed in the loan contract; Rn7。 Application materials to be provided: rn( 1) personal loan application; Rn(2) Personal valid identity document. Including identity cards, household registration books, military officers' cards, passports, and travel passes for compatriots from Hong Kong, Macao and Taiwan. If the borrower is married, the identity certificate of the spouse shall be provided; Rn(3) household registration certificate or long-term residence certificate; Rn(4) personal income certificate, family income or property certificate when necessary; Rn(5) certificate of intention to buy a car issued by the car dealer; Rn(6) proof of down payment for car purchase; Rn(7) If the guarantee is made by means other than the mortgage of the purchased vehicle, relevant materials for the guarantee shall be provided; Rn(8) If the vehicle purchased by loan is a commercial vehicle, it is also necessary to provide proof that the purchased vehicle can be legally used for operation, such as the connection agreement and lease agreement between the vehicle and the transport fleet. Rnrn processing flow: rn 1. Customer application. Customers apply to the bank, fill in the application form in writing and submit relevant materials at the same time; Rn2。 Sign the contract. After the application materials submitted by the borrower are approved by the bank, the two parties sign a loan contract and a guarantee contract, and go through the relevant notarization and mortgage registration procedures as appropriate; Rn3。 Loan. After all the formalities are completed, the loan approved by the bank will be directly transferred to the car dealer account by the bank according to the contract; Rn4。 Repay on schedule. The borrower repays the loan principal and interest according to the repayment plan and repayment method agreed in the loan contract; Rn5。 Loan settlement. Loan settlement includes normal settlement and early settlement. Rn( 1) normal settlement: the loan shall be settled on the loan maturity date (one-time repayment of principal and interest) or the last installment (installment repayment); Rn(2) Early settlement: Before the loan expires, if the borrower partially or completely settles the loan, it must apply to the bank in advance according to the loan contract, and the bank will repay the loan at the designated accounting counter after approval. After the rnrn loan is settled, the borrower will take back the legal documents and relevant supporting documents extracted by the bank with his valid identity certificate and the loan settlement certificate issued by the bank, and go through the mortgage registration cancellation formalities with the original mortgage registration department with the loan settlement certificate.
How many years does it take to buy a car by installment?
At present, the maximum loan period for car purchase is no more than 5 years. If the purchased vehicle is used for business purposes such as rental operation and car rental, the loan period is generally no longer than 3 years.
A loan to buy a car must meet the following conditions:
1. Car buyers must be at least 18 years old and be China citizens with full civil capacity.
2. The car buyer must have a relatively stable job, a relatively stable economic income or assets that can be easily realized, and guarantee to repay the loan principal and interest on schedule.
3. During the loan application period, the car buyer shall deposit no less than the down payment stipulated by the bank in the account of the bank savings counter.
4. Car buyers are willing to accept other conditions that the bank deems necessary.
Second, the information needed for the application.
1, the original ID card, residence booklet or other valid proof of residence, and provide its copy;
2. Proof of occupation and economic income;
3 car purchase agreement, contract or letter of intent signed with the dealer;
4. Other documents required by the Cooperation Organization.
Third, the application process
1, customer application
Customers apply to the bank, fill in the application form in writing and submit relevant materials at the same time;
Step 2 sign a contract
After the application materials submitted by the borrower are approved by the bank, the two parties sign a loan contract and a guarantee contract, and go through the relevant notarization and mortgage registration procedures as appropriate;
Step 3 lend a loan
After all the formalities are completed, the loan approved by the bank will be directly transferred to the car dealer account by the bank according to the contract;
4. Repay on time
The borrower repays the loan principal and interest according to the repayment plan and repayment method agreed in the loan contract;
5. Loan settlement
Loan settlement includes normal settlement and early settlement.
After the loan is settled, the borrower will retrieve the legal documents and relevant supporting documents extracted by the bank with his valid identity certificate and the loan settlement certificate issued by the bank, and go through the mortgage registration cancellation formalities with the original mortgage registration department with the loan settlement certificate.
Extended data:
There are three ways to buy a car with a loan:
1, credit card purchase by installment
Credit card installment purchase is greatly limited in the amount and repayment interest rate. The credit card amount cannot exceed the credit limit of the credit card. Suitable for consumers who lack a small amount of car purchase funds. Some banks with stable income can complete the examination and approval in a few hours at the earliest, and generally have no household registration and property restrictions.
2. Bank personal car loan
The interest rate is relatively low, slightly floating on the basis of the benchmark interest rate of the central bank, and the examination procedures are complicated, which requires higher professional income and credit of lenders. Moreover, some banks have taken preferential measures such as reducing the down payment ratio, extending the loan term and lowering the loan interest rate according to the credit qualification of customers.
3. Auto financing company loans
Flexible repayment, simple procedures and faster lending. In terms of loan conditions, auto finance companies pay more attention to the personal credit of car buyers, taking education, income and work as reference standards, and do not need to pledge like banks, and foreign household registration will not become an obstacle to obtaining loans.