1, with China nationality (excluding Hong Kong, Macao and Taiwan residents).

2. Age 2 1-55 years old.

3. Work or live in Shanghai.

4. You can apply for a stable job with a monthly income of not less than 2,000 yuan.

At present, there are two ways to buy a car loan: banks and auto financing companies. Consumers (especially those with foreign accounts) don't have to choose banks, which gives black-hearted car dealers an opportunity.

Automobile loan qualification

The lending standards of auto financing companies are relatively loose, mainly focusing on the applicant's credit; Bank lending focuses on the applicant's income, account and collateral. The biggest difference between banks and auto financing companies is that in auto financing companies, it is generally easier for foreign accounts to apply for car loans under certain conditions, while it is more difficult for banks to apply for car loans, which requires a series of cumbersome procedures such as local citizens' guarantees and real estate licenses.

Loan procedures and fees

The advantage of auto financing companies is that the procedures are quick and convenient, which are generally completed in about three days, and there is no need to pay fees such as handling fees, mortgage fees and attorney fees. It takes more than a week for a general bank loan. You need to find a guarantee company to guarantee and charge a certain amount of miscellaneous fees.

loan rate

The bank car loan interest rate is calculated according to the loan interest rate for the same period stipulated by the People's Bank of China, while the interest rate of auto financing companies is usually higher than the bank demand interest rate. At present, the loan interest rate of auto financing companies is generally higher than that of banks 1 percentage point. If the loan is 1 10,000, it may cost more than 3,000 yuan in three years.

The down payment ratio of auto financing companies is relatively loose, and the down payment is generally low. For example, Toyota Finance can promise customers with very good reputation that the down payment is 20% of the total car price, and the loan period is divided into three years and five years. At present, most banks stipulate that the minimum down payment is 40% of the total car price, and the loan period generally has two choices: three years and five years, and the longest is no more than five years.

Monthly repayment At present, some auto financing companies can provide flexible credit and other services. Flexible credit is flexible, that is, it provides consumers with many choices when the contract expires through the elastic balance payment that does not exceed a certain proportion of the loan amount: one-time settlement of the elastic balance payment to obtain automobile ownership; Or apply for a second loan of 12 months for the elastic balance; Or with the help of car dealers, replace new cars with used cars. Because this flexible balance is excluded from the total monthly payment, the monthly payment is generally lower than that of the bank.