How many years can I borrow a car loan?
How many years can I borrow a car loan? This problem is closely related to the way of car loan. Different loan methods will lead to different loan terms. There are three main ways of car loan, and different loan methods have different loan periods.
Bank of Communications, Bank of China and other banks' personal car consumption loans, the loan period is not more than 5 years. Credit card installment payment, the longest loan period is 3 years.
The number of credit card installments is 6, 12, 24, 36, and the first installment is one month. Auto finance consumer company loans, the longest loan period is also 5 years.
How much can I borrow from a car mortgage?
Automobile mortgage credit line. Mainly depends on the overall qualification of the lender and the current car value. Secondly, the amount given by different institutions will be different.
The highest appraisal price of a bank for automobile mortgage is 160%, the general amount is 80%, and the monthly interest rate is 0.55-0.9%. The highest evaluation price of non-bank institutions is 120%, which is generally 60-80% of the market evaluation price, and the monthly interest is generally around 0.8%- 1.5%.
When many people apply for a car mortgage, they are most worried about whether their car can still be used. At present, many of these loans on the market are mortgages rather than mortgages, so it is best to consult the lending institutions in advance when applying.
That's all. I hope it helps you.