Second-hand car loan, that is, second-hand car mortgage loan, refers to a loan issued by a commercial bank to individual borrowers to purchase and consume second-hand cars, and the purchased vehicles are used as collateral and mortgage for the loan. Recently, Renrenshe cooperated with Tencent Auto to produce a series of videos of "Open Class of Used Cars", and invited Zhang Jun, who is in charge of installment business of Renrenshe, to introduce how to handle installment loans for used cars.
Why do you need a loan to buy a car?
When it comes to loans, we may encounter many situations. When we are short of funds, it is common to need a loan. Now, however, another situation is becoming more and more common. You can use the money on hand to buy wealth management products, then apply for a loan to buy a car, and then use the wealth management income to repay the loan. This is the ideal consumption form that many people choose now.
What are the main types of car loans?
Personal second-hand car loans can be roughly divided into two categories, one is credit loans and the other is mortgage loans. Mortgage loans need to be secured by the car we bought, which is theoretically easier to apply for. In addition to banks, some large financial institutions also provide loans.
Can a non-local account apply for a loan?
Financial institutions will mainly examine the personal qualifications of lenders in their permanent residence or domicile.
What is the minimum down payment?
Used car loans usually have no zero down payment loans. However, if the personal credit status is good and the personal ability is stable, you can choose a credit loan with no specified purpose.
How much is the interest on the loan?
At present, the lowest interest rate for buying used car loans is 5%. There is no interest-free loan for second-hand car trading, and the loan interest will be slightly different according to the lender's personal situation and the financial products used.
How to inquire personal credit information?
Personal credit information can be found in www.pbccrc.org.cn Personal Credit Information Service Platform of Credit Information Center of China People's Bank.
Loan preparation procedures?
According to different financial institutions and loan types, it is usually necessary to prepare identity cards, household registration books, housing certificates, income certificates, marriage certificates, etc.
Renren adopts C2C mode to collect the most cost-effective and reliable used cars for our customers and buy better cars at lower prices. Renren also cooperates with a number of financial institutions to provide financial loan services for Renren's customers, eliminating the cumbersome links between customers and banks, allowing customers to drive home with ultra-low down payment and enjoy driving pleasure in advance.
Million car purchase subsidy