How much can you generally borrow for a car mortgage loan?

Currently, Bank of China is temporarily unable to accept personal mortgage (pledge) revolving loans with cars as collateral.

The above content is for your reference, please refer to actual business regulations.

How much can be borrowed for a car mortgage loan

Car mortgage loan limit

The car mortgage loan limit is determined by the borrower's credit conditions, repayment ability, etc. Usually the car mortgage rate is around 60%. For example, a new car mortgage loan of 300,000 yuan, because the car depreciates quickly, is generally assessed at 200,000 yuan. According to a mortgage rate of 60%, the loan can be 120,000 yuan.

Different institutions have different loan rates

Different lending institutions have different implementations. The same borrower uses the same car as a mortgage loan, and the approved loan amount may also be different. Some lending institutions can approve 70% of the car's appraised value, and some can approve up to 80% or even 90% of the car's appraised value. Of course, it is also possible that only 50% or even 40% of the appraised value of the car will be approved.

Lending institutions determine the loan amount based on the borrower's qualifications and the condition of the car. The borrower's age, household registration, marital status, financial ability, asset status, etc., as well as the car's age, value, mileage, type, etc. will all affect the loan amount.

The type of car affects the loan amount

1. If the car being loaned is a commercial vehicle, the loan amount shall not exceed 70% of the total value of the car;

2. If the car being loaned is for personal use, the loan amount shall not exceed 80% of the total value of the car;

3. If it is a second-hand car, the loan amount is determined by the appraised value.

How much can be borrowed for a vehicle mortgage loan

Generally speaking, the appraisal price of a car is determined by the appraisal agency, and the car mortgage rate is determined by the borrower's credit conditions, repayment ability, etc. Decide. Usually the car mortgage rate is around 60%. For example, a new car mortgage loan of 300,000 yuan, because the car depreciates quickly, is generally assessed at 200,000 yuan. According to a mortgage rate of 60%, the loan can be 120,000 yuan.

Moreover, how much money can be borrowed as a car mortgage is also related to the nature of the car. The specific situation is as follows:

1. The car being loaned is a commercial car, so the maximum loan amount shall not exceed the total value of the car. 70% of the total value of the car;

2. If the car being loaned is for personal use, the loan amount shall not exceed 80% of the total value of the car;

3. If it is a second-hand car, the loan amount shall be Appraisal value decision.

How much can be borrowed for a car mortgage loan?

Generally, the appraised value of a loan is about 50% to 80%, and a car mortgage loan can generally be loaned for 70%, depending on the price and specific usage of the car. .

Nowadays, there are many channels for applying for car mortgage loans, and the review is very strict. Therefore, borrowers must prepare loan materials in advance. Be cautious when choosing a loan, avoid car loan routines reasonably, and don’t just go for convenience. Be sure to choose a formal institution. Only in this way can you better protect your rights and interests.

For car mortgage loans, you need to find a professional company. Shanghai Amitu has more than ten years of service experience in the car loan industry. The service is very professional. It has a good brand awareness in the car mortgage loan industry. The interest rate and quota are also relatively advantageous in the industry. Currently, its business covers Shanghai, Chengdu, It has 13 direct stores across the country in 10 cities including Xi'an, Wuhan, Shenzhen, Chongqing, Beijing, Kunming, Guangzhou and Shihezi in Xinjiang.