Want to borrow children’s shoes look, look! Car loan strategy is coming! Which bank is good for car loan? How much can bank car loan borrow at most? The loan that applicant assures means is different, bank loan amount is different also.
How much can you borrow with a car mortgage? For the amount of auto loans that Banks can borrow, if the loan is pledged (using securities and certificates of deposit as collateral to apply for loans), or if the bank or insurance company provides joint and several liability guarantee, the bank loan shall not exceed 80% of the auto loans at most. If the purchased vehicle or other property is used as collateral for a loan, the bank loan shall not exceed 70% of the purchase amount. If a third party (except a bank or an insurance company) applies for a loan by way of guarantee, the bank loan shall not exceed 60% of the car purchase fund at most.
The interest rate for auto loans shall be implemented in accordance with the loan interest rate for the same period stipulated by the People’s Bank of China, and the maximum term for personal loans shall not exceed 5 years.
If an individual wants to apply, he must have the following conditions: a natural person with full capacity for civil conduct; Have local permanent residence and valid residence status, have a fixed residence; Having a proper occupation and a stable source of income, and having the ability to repay the principal and interest of the loan on schedule; Hold the purchase agreement and contract signed with the dealer, and the purchased vehicle must be the designated automobile brand of the dealer designated by the bank; Can provide property mortgage, pledge or third party guarantee recognized by the bank, if it is a third party guarantee, the guarantor must be an individual and unit with compensation ability recognized by the lending bank, and can bear joint and several liability.