Many friends have heard of provident fund, and some friends know its main purpose, but most people actually don't know how to use it, so some friends who have bought provident fund still need to take the time to understand its purpose. Most of them are used for loans to buy a house, but some friends want to use provident fund loans to buy a car.
Many friends have heard of provident fund, and some friends know its main purpose, but most people actually don't know how to use it, so friends who have bought provident fund still need to spend time to understand its purpose. Most of the provident fund is used to borrow money to buy a house, but some friends want to use the provident fund loan to buy a car. How do they use the housing provident fund loan to buy a car? What is the process of buying a car mortgage loan?
How to use the housing provident fund loan to buy a car
Housing provident fund cannot be directly used to buy a house. If you want to use the housing provident fund, you can only withdraw the amount in the provident fund account to buy a car.
1. Sign the payment agreement. The Buyer and the Seller sign the loan fund transfer payment agreement.
2. Entrusted assessment. The loan applicant entrusts a housing appraisal institution recognized by the housing provident fund management center to evaluate the transferred house and issue an appraisal book.
3. Housing transfer. The buyers and sellers handle the house transfer formalities in the real estate registration department, sign the house sales contract, complete the deed tax payment formalities in the tax collection and management center, and obtain the property right certificate after the transfer.
4. Loan application. The loan applicant shall fill in the Application Form for Individual Housing Provident Fund Loan at the Housing Provident Fund Management Center with the materials required for the aforementioned provident fund loan, and make a record of the loan interview.
5. Loan approval. The housing provident fund management center is responsible for the preliminary examination of the loan application of the loan applicant; Audit; Recognition.
6. Sign a loan contract. Sign loan contracts and handle insurance; Notarization procedure.
7, for housing mortgage registration. The loan applicant brings the loan contract to the entrusted bank and gets approval; After being stamped, it will be sent to the accreditation center for mortgage registration, and the acceptance notice will be handed over to the housing provident fund management center.
8. Issue loans. After receiving the mortgage "Property Ownership Certificate", the Housing Provident Fund Management Center will notify the entrusted bank to issue loans.
9. repayment. The borrower shall repay the loan principal and interest on a monthly basis in accordance with the loan contract.
10, the contract is terminated. After the borrower pays off the loan principal and interest, the loan contract is terminated and the entrusted bank issues a loan settlement certificate. The lender takes back the mortgage Property Ownership Certificate (combined loan to the entrusted bank) from the housing provident fund management center and goes through the mortgage cancellation registration with the housing property registration department.
What is the process of buying a car mortgage loan?
1. The lender submits detailed loan application materials to the bank; The bank conducts a preliminary examination of the application materials submitted by the borrower; Banks conduct credit investigation and customer evaluation on auto loan institutions; If the bank passes the preliminary examination and credit investigation, the loan application will be approved.
2. After the customer's qualification and information are approved, you can sign a contract, handle mortgage registration, insurance and other procedures, sign a vehicle loan mortgage contract, one for the bank and one for the customer, and also sign an automobile sales contract, one for the dealership, one for the customer and one for the bank; If it is not approved, the bank will explain it to the borrower. 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. The bank adopts the method of earmarking, that is, according to the contract, the handling bank directly transfers the loan to the 4S shop account where the borrower buys the car.
3. 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, puts on the license, and submits the car license, invoice, insurance policy, driving license, ID card and household registration book to the bank. After the mortgage, the bank will return the driving license, ID card and household registration book. There are three common ways to buy a car by loan: bank loan, credit card purchase and auto financing company loan. But either way, the lender's repayment ability will be evaluated. In principle, if the loan amount is within your repayment ability and you have a good credit record, you can get a bank loan.
The above is about how to use the housing provident fund loan to buy a car. What is the process of buying a car mortgage loan? Through the above understanding, we should know that provident fund loans are not allowed to buy a car. If you want to use the provident fund loan, you can only buy a house. However, in addition to buying a house with a loan, you can also withdraw it. Interested friends can learn about it.
Clever use of provident fund loans to buy a car
Housing provident fund can be used for loans to buy a house or decoration and other real estate-related aspects, which I believe everyone is very clear, but because of the high housing prices, many people have not saved enough down payment. This has also led many people to doubt whether the housing provident fund can be used to borrow money to buy a car. Then, how can the housing provident fund borrow money to buy a car? What are the ways to buy a car with a loan?
First, the housing provident fund loan to buy a car
It is reported that the relevant standards for the payment base of individual housing provident fund vary from place to place. The housing provident fund paid by individual employees and the housing provident fund paid by the employee's unit for employees are deposited in personal accounts, and the principal and interest are owned by individual employees. Since the money is your own, can you take it out to buy a car?
The answer is no, the main purpose of the provident fund is to buy, build, renovate and overhaul self-occupied houses, repay the principal and interest of home purchase loans, and subsidize the rent that exceeds the family wage income. Simply put, the use of provident fund needs to be related to the house. In other words, the housing provident fund is not allowed to be used for loans to buy a car.
Second, if you are short of money to buy a car, you can use the following methods:
Article 9 of the Interim Measures for the Administration of Personal Loans stipulates that the lender shall establish a reasonable control mechanism for the borrower's income and debt ratio, reasonably determine the loan amount and term in combination with the borrower's income, liabilities, expenses, loan purposes, guarantees and other factors, and control the borrower's repayment amount in each installment not to exceed its repayment ability. If you are short of money to buy a car, you can choose the following methods based on your repayment ability:
(1) Traditional bank car loan. The traditional car loan is very strict in the loan amount and approval process, and the procedures are cumbersome, which is very troublesome for car buyers. At present, there are not many banks that carry out this business.
(2) Bank credit cards are purchased in installments. This is the main way for major banks to promote new car loans-credit card installment. Take recruitment behavior as an example. Just apply for a credit card of China Merchants Bank, and then apply for "Easy Car Purchase". The bank will increase the installment amount of its credit card according to the credit status of the cardholder, so as to meet the demand of the cardholder to buy the designated brand car during the disposal period of the designated dealer. The cardholder can repay the car purchase money in monthly installments only by paying a certain handling fee. At the same time, different car dealers will launch various promotional activities from time to time to reduce the installment fee.
How to use provident fund loan to buy a car
Personal housing provident fund loans refer to loans entrusted by local housing provident fund management centers to commercial banks to pay for housing provident fund purchase, construction, renovation and overhaul.
Personal car loan refers to the loan granted by China Bank to natural person borrowers for purchasing consumer cars (excluding used cars).
Please consult the local branch of Bank of China for details.
The above contents are for your reference. Please refer to the actual business regulations.
How to withdraw the provident fund to buy a car
The process of drawing provident fund to buy a car is as follows:
1. First, you need to apply to your company for withdrawal of provident fund. After the unit has passed the examination according to the specific situation, it can fill in the Application Form for Extraction of Housing Provident Fund and affix the corresponding official seal, and then it can go through the extraction procedures at the Housing Provident Fund Center with relevant materials.
2. After the applicant submits the sealed application form and other related materials to the Provident Fund Center, the staff of the Provident Fund Center will review it;
3. After the approval, the Provident Fund Center will issue a withdrawal check, and the payer can go through the withdrawal procedures of the provident fund with the check. Usually, after the provident fund formalities are completed, the provident fund will be transferred to the personal account within 1 to 5 working days.
Regulations on the administration of housing provident fund
Article 24
In any of the following circumstances, the employee may withdraw the storage balance in the employee housing provident fund account:
(a) the purchase, construction, renovation and overhaul of owner-occupied housing;
(2) retirement;
(three) completely lose the ability to work, and terminate the labor relationship with the unit;
(4) Having left the country to settle down;
(5) Repaying the principal and interest of the house purchase loan;
(six) the rent exceeds the prescribed proportion of family wage income.
In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, the employee housing provident fund account shall be cancelled at the same time.
If an employee dies or is declared dead, the employee's heirs and legatees may withdraw the storage balance in the employee's housing provident fund account; If there is no heir or legatee, the storage balance in the employee housing provident fund account shall be included in the value-added income of the housing provident fund.
What is the process of buying a car with a provident fund loan?
Generally speaking, buying a car with a loan has two advantages. First, the saved funds can be used in other places, such as investment, and the money invested may be more than the loan interest; Second, you can accumulate credit, borrow money to buy a car, and as long as you repay on time, you can accumulate good personal credit, which will help you apply for loans and credit cards in the future.
The process of buying a car with a loan is as follows:
First, book a car. Book the car first, then take the loan process, and negotiate with the 4S shop for specific preferential policies.
Second, submit the loan procedures. Usually need: husband and wife identity certificate, driver's license, marriage certificate, real estate license, income certificate, bank running water and other information.
Third, waiting for approval. After the loan procedures are submitted, the bank/vendor finance/third-party finance company will examine and approve the loan applicants' qualifications, which are usually divided into online examination and approval and offline examination and approval. Online approval generally calls the loan applicant; Offline approval is generally a home visit, and it will only be taken if the loan applicant's qualification is not very good.
Fourth, pay the down payment. After the loan is approved, it is necessary to pay the down payment to the 4S store first, and then the 4S store will issue a receipt for the down payment and give it to the bank/finance company for loan.
5. borrow money to pick up the car. Banks/financial companies will lend money to 4S shops or loan applicants, so that they can issue insurance invoices to pick up their cars normally.
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This answer is provided by Kangbo Finance, focusing on the interpretation of financial hot events, the popularization of financial knowledge, the pursuit of professionalism and interest, so that the financial content that the people can understand can convey financial value in vivid and diverse ways. I hope this answer is helpful to you.