The loan process is as follows:
1: The borrower submits the loan application materials to the bank;
2. The bank conducts a preliminary examination of the application materials submitted by the borrower;
3. The bank conducts credit investigation, customer evaluation, preliminary examination, credit investigation and approval of loan applications that meet the loan conditions;
4. If it is approved, notify the borrower to go through relevant procedures such as signing, lending, mortgage or pledge; If it fails to pass the examination and approval, it shall explain to the borrower;
5. After the loan contract comes into effect, the handling bank will issue loans. Special loan method is adopted, that is, according to the loan contract, the handling bank directly transfers the loan to the dealer account of the borrower's car purchase.
When choosing a car loan, you will generally face bank car loans, auto finance companies or credit cards to buy cars in installments. All three methods require the applicant to provide some materials, and the ID card is one of many materials. For example, you need to provide your ID card, credit card and work certificate by stages, and the dealer is responsible for applying for a loan from the issuing bank. For auto financing companies, it is necessary to provide the original ID card, proof of marital status, proof of income, proof of driving and other personal legal assets. For bank car loans, you need to provide loan application approval form, ID card, written proof of mortgage consent, proof of residential address, proof of occupation and income, and proof of loan guarantee.
There are three ways to buy a car by loan: credit card installment, bank loan, and auto enterprise finance company:
1, credit card purchase by installment
Car purchase by credit card installment is a credit card installment business launched by banking institutions. The credit limit that the cardholder can apply for is 200,000-200,000; There are three stages: 12 months, 24 months and 36 months. There is no loan interest rate for buying a car by credit installment, and the bank only charges a handling fee. The handling fee rate is different in different installments.
general situation
Advantages: fast interest-free approval.
Rate: 0% of the installment amount-10%.
Conditions: The cardholder of the issuing bank has no household registration restrictions.
Car price: the actual market price. The down payment requires cash or deposit.
Process: 4S in-store car selection → apply for installment → pick up the car.
2. Personal car loan
Personal car loan refers to RMB loans issued by Chinese commercial banks to individuals for buying cars. For natural persons aged 18-60, the loan amount is different according to the purpose of buying a house.
general situation
Policy: the down payment is 30%-50%, and the loan period is 3 years.
Interest rate: the benchmark interest rate set by the central bank rises 10%-30%.
Conditions: Property and Third Party Guarantee
Car price: generally, it is the model guide price.
Process: car selection by dealers → loan application → bank investigation and approval → car pick-up.
3. Auto financing company loans
Auto financing company loan is a payment method that consumers can directly apply for preferential payment when they need a loan to buy a car, and they can choose different models and different payment methods according to their personal needs.
general situation
Policy: the minimum down payment is 20%, and the loan period is 1-5 years.
Cost: interest or handling fee. Some products are free.
Conditions: stable income and good credit.
Car price: Free handling fee and interest-free models are sold at the guide price.
Process: 4S in-store car selection → financing application → approval → car pick-up.