Car loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers. The interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal given by the bank to consumers, that is, borrowers, for purchasing their own cars (non-profit family cars or commercial vehicles with less than 7 seats). The higher the interest rate, the greater the repayment amount of consumers.

Letter of credit clause

1. Loan target: a natural person with full civil capacity, aged 18 to 60 years old (inclusive);

2. 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;

3. 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;

4. Loan interest rate: subject to the loan interest rate regulations of China Construction Bank;

5. 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;

6. 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 repayment, 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;

Loan information tool

(1) Personal loan application;

(2) Personal valid identity documents. 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;

(3) proof of household registration or long-term residence;

(4) personal income certificate, family income or property certificate when necessary;

(5) Certificate of intention to buy a car issued by the automobile dealer;

(6) proof of down payment for car purchase;

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

(8) 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, such as the affiliation agreement and lease agreement for the vehicle to be affiliated with the transportation fleet.