The materials to be provided when applying for the S-shop auto loan include: valid personal identity card, household registration certificate or long-term residence certificate, proof of intent to buy a car issued by the auto dealer, relevant materials for providing guarantee for the purchased vehicle by other means than mortgage, proof of rights including pledge, proof and evaluation of the ownership of the collateral, and letter of intent for third-party guarantee, etc. Loan purchase process
What information do I need to apply for a car loan in a 4s shop?
The materials to be provided when applying for the S-shop auto loan include: valid personal identity card, household registration certificate or long-term residence certificate, proof of intent to buy a car issued by the auto dealer, relevant materials for providing guarantee for the purchased vehicle by other means than mortgage, proof of rights including pledge, proof and evaluation of the ownership of the collateral, and letter of intent for third-party guarantee, etc.
Loan purchase process:
1. Handle mortgage loan business. Generally speaking, 4S stores will recommend some mortgage loans, which can be selected according to the specific situation, or you can contact the bank to handle it yourself.
2. Fill in the loan qualification form. Including banks that want to mortgage loans, sign bank loan guarantee contracts, handle notarization and submit mortgage registration applications.
You need to sign a car insurance application form, and these materials need to be handed over to the backstage staff. Then find an insurance company to issue a policy, and then the bank will collect the down payment according to the sales agreement.
4. Go to the dealer to get the license, and you need a certain fee when you get the license.
5. Repay on time. Go to the bank to repay the loan on time every month, and don't overdue it, otherwise it will affect your personal credit information.
How to apply for a car loan in a 4s shop?
How should I apply for a car loan in Shop 4? This 4S shop is called 4S Automobile Sales & Service Co., Ltd., which is an automobile sales enterprise integrating automobile sales, spare parts, after-sales service and information investigation. Now more and more people want to borrow money to buy a car, and they will choose to borrow money from 4s stores. After all, it is more convenient. So, how to apply for a car loan in a 4s shop? Next, Bian Xiao will tell you something.
4 shop s car loan processing flow:
1. The lender submits detailed 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 and customer evaluation on car buyers;
4. The loan application will be approved through the bank's preliminary examination and credit investigation;
5. After the customer's qualification and information are approved, you can sign contracts, go through mortgage registration and insurance procedures, mortgage contracts for vehicle loans, sales contracts for banks, customers, car dealers, customers and banks; If it fails to pass the examination and approval, the bank will explain to the borrower;
6. After the loan contract comes into effect, the handling bank will issue the loan, and the whole approval process will take 3-5 working days. Adopt the method of bank earmarking, that is, according to the contract, the handling bank will directly transfer the loan to the 4S shop account of the borrower's car purchase.
7. Handling car pick-up procedures: The borrower pays the down payment to the car dealer, handles the car pick-up procedures with the car pick-up form issued by the bank, and gives the car a license. After the license plate is signed, the vehicle license plate, invoice, insurance policy, driving license, ID card and household registration book will be handed over to the bank, and the driving license, ID card and household registration book will be returned after being mortgaged by the bank. What information do I need to apply for a 4s shop car loan? How to apply for a car loan in a 4s shop @20 19
What are the risks of car sales companies issuing loan invoices?
The risks of invoicing loans by auto sales companies are as follows.
1, fraud risk, such as car accident and car rental. Generally, you will not go to the vehicle management office for mortgage registration for various reasons.
2. The credit evaluation risk, vehicle value and owner's debt status are not evaluated in place.
3, the operation is risky, and many companies do not have independent risk control lines, which easily leads to the phenomenon of wrong automobile value evaluation.
Introduction of automobile loan
There are various ways to buy a car loan. Different expected annualized interest rates, quotas, terms and repayment methods make car buyers see a variety of things, and choosing a car loan that suits them has become a topic of concern.
1. Banks apply for car loans (including personal consumption loans/car loans/credit card installment loans)
Loans to banks include direct customers, that is, individuals take the initiative to apply for loans from banks, which belong to personal consumption loans; The other is indirect, that is, car buyers choose banks that cooperate with 4S stores to apply for loans, which can generally be carried out by car loans or credit card installment loans. The above three loan methods all have the following characteristics:
Suitable for people: borrowers with good personal credit, stable work income, and guarantees and collateral.
Expected annualized interest rate: The expected annualized interest rate of bank car loans will fluctuate on the basis of the expected annualized interest rate of the central bank's personal loan benchmark (usually between-10%-30%). For example, for high-quality customers, BOC's car loan can be reduced by10%; ICBC will implement it according to the expected annualized interest rate increase 10% set by the central bank in the same period.
Tips: In the base year, the central bank expects the annualized interest rate to be 1- 6%, and the annual loan amount to be 1-3 years: for a new car, the maximum loan amount generally does not exceed 80% of the car price.
Guarantee method: the bank has strict requirements on the borrower's income, collateral and other assets, and the guarantee procedures are cumbersome.
Repayment method: average capital and equal principal and interest are the main methods, and only a few banks have flexible repayment methods, such as CCB and Bank of Communications.
Loan term: the longest is 5 years, and credit card installment payment generally does not exceed 2 years. Advantages and disadvantages of applying for a car loan from a bank;
Advantages: the bank has no requirement for loan mode, and supports multi-mode and multi-brand loans; The expected annualized interest rate of bank loans is lower than other methods; The applicant's materials are complete, and the bank loan time is generally 10-90 days.
Disadvantages: strict loan application conditions; Require consumers to make a down payment of 20%-40%.
2. Auto financing company
Most auto financing companies are jointly established by automakers and banks. General auto dealers will provide customers with auto financing company loan services, which generally have the following characteristics:
For the crowd: the down payment for car purchase is less (only more than 20%); Failing to meet the conditions for applying for bank auto loans; People who need more flexible repayment methods.
Expected annualized interest rate: the loan is convenient and fast, but the expected annualized interest rate is high (generally around 10%). Loan amount: under normal circumstances, 80% of the car price can be provided as mortgage/guarantee: generally, real estate and other collateral or guarantor are needed.
Flexible and diverse repayment methods: it can meet the needs of different car buyers and different income characteristics. Common repayment methods of auto financing companies are suitable for people:
Equal principal and interest: the monthly repayment amount is the same. Suitable for car buyers with stable income and expenditure.
Average capital: the monthly payment decreases month by month with the loan time, and the total interest expenditure is less than the equal principal and interest. Suitable for people who can accept the initial monthly payment.
Flexible credit granting: for example, the down payment is 50%, the remaining loan is 50% (the ratio of the down payment to the second installment can be adjusted), the interest of the same amount is paid every month during the loan period, and the final payment of the principal is paid at the end of the loan period. And when the loan expires, the car buyer can also have three choices: one-time payment, applying for deferred payment (that is, applying for a second loan) or replacing the used car with a new car. This method is suitable for people with short-term capital shortage, low monthly demand and uncertain income.
Installment repayment: the loan is divided into several stages, each stage contains several repayment stages, and the total repayment amount of each stage is different in each single stage. For example, the car loan of 6,543,800 yuan is divided into three sections, with the repayment of 20,000 yuan in the first year, 30,000 yuan in the second year and 50,000 yuan in the third year. When repayment is made in this way, there are three options at maturity (see Scheme 3). This method is suitable for people with uncertain income.
Advantages and disadvantages of applying for a loan from an auto financing company;
Advantages: low loan threshold and flexible repayment method.
Disadvantages: auto financing companies are mostly limited to a single car brand; The loan is expected to have a high annualized interest rate.
3. Other ways
Bank loan and auto financing company are two main ways of auto loan. Borrowing money by other means is generally in the following three situations:
(1) Auto financing companies without small-brand cars.
(2) Personal credit does not meet the application conditions of banks or auto financing companies; (3) The down payment of car buyers is not enough.
Advantages and disadvantages of other lending methods:
Loan channels: companies, guarantee companies, pawn shops, P2P loans, etc.
Advantages: the loan procedure is simple and the loan speed is fast.
Disadvantages: These methods all have access fees, and the expected annualized interest rate of loans is higher than the other two main methods.
In addition, car buyers should be careful of the following minefields:
Beware of conditional insurance, some dealers use a certain auto insurance as a cover, but force car buyers to buy designated auto insurance, which is often more expensive than buying it themselves. So sending insurance is not necessarily a good thing.
With zero expected annualized interest rate, many car dealers will waive car loan interest within 1 year, but consumers have to pay the car loan fee, which is actually the bank interest fee, but the name has changed.
Credit card installment payment may bring some problems: for example, if you don't repay on time, you will have to pay a penalty interest, which will affect your personal credit; After the car loan is completed, the credit card will be idle and an annual fee will be incurred.
Don't ignore the price concessions. Many car dealers offer interest-free car loans to car buyers, but car buyers should pay attention to the fact that they can't enjoy preferential car prices when enjoying interest-free car loans, but can only buy them at the manufacturer's guide price. The interest-free amount enjoyed may be less than the car price discount.
Liquidated damages, for those who intend to repay in advance, we should pay special attention to whether there are provisions on liquidated damages and the proportion of liquidated damages in the loan contract for prepayment.
Will there be two-year interest-free loans for FAW-Volkswagen sales in 2022?
Is there a two-year interest-free loan for FAW-Volkswagen sales in 2022?
According to the manufacturer's policy, in 2022, FAW-Volkswagen Sales Co., Ltd. can have an interest-free loan for up to three years.
So much for the introduction of car sales company loans.