What are the conditions for car loan?
1. The car buyer must be a China citizen with full capacity for civil conduct, aged 18.
2. Car buyers must have a stable occupation and stable economic income in order to repay the loan principal and interest on schedule.
3. During the loan application period, the car buyer shall deposit no less than the down payment stipulated by the bank in the account of the bank savings counter.
4. Provide banks with bank-approved guarantees. If the personal account of the car buyer is not local, it is necessary to provide joint and several liability guarantee, and the bank does not accept the mortgage set by the car buyer for the car purchased by the loan.
5. Car buyers are willing to accept other conditions deemed necessary by the bank.
Automobile loan related knowledge:
Object of loan: The borrower must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.
The borrower has a stable occupation, the ability to repay the principal and interest of the loan, and good credit; Can provide recognized assets as collateral or pledge, or a third person with sufficient compensatory ability as a guarantor to repay the principal and interest of the loan and bear joint liability.
Loan amount: The maximum loan amount generally does not exceed 80% of the price of the purchased car.
Loan Term: The loan term for automobile consumption is generally 1-3 years, and the longest is no more than 5 years.
Loan interest rate: uniformly stipulated by the People's Bank of China.