I think few people have thought about this issue, and what everyone says on weekdays is also more general. Now Bian Xiao will give you a brief introduction: according to the purpose of the loan, personal car loans can be divided into two categories: one is self-use car loans; The second is commercial vehicle loans.
In this regard, some netizens began to ask: What is a car loan? What is a commercial vehicle loan?
It is understood that self-use cars are non-profit cars purchased by borrowers through car loans; Commercial vehicles are for-profit vehicles purchased by borrowers through auto loans, such as bulldozers, excavators, mixers and other engineering vehicles.
In addition, the longest loan period for self-use cars is 5 years; The longest loan period for commercial vehicles is 3 years; The loan period of second-hand car is up to 3 years, and the loan period of second-hand car is up to 6 years.
Although more and more people buy cars through loans at present, not everyone knows about the business of automobile consumption loans. What conditions do borrowers need to meet when consumers buy cars and want to apply for car loans? What materials do I need to bring to apply for a loan?
When applying for a bank car loan, the borrower must meet the following conditions: 1,/kloc-a China citizen (including Hong Kong, Macao and Taiwan residents) aged over 8 and under 60; 2. The borrower's family (including the borrower, spouse and minor children) has a fixed residence in the place where the business organization is located, and has a fixed residence or valid residence certificate; 3. The borrower and spouse have good credit and loan repayment ability; 4. Other conditions stipulated by Industrial Bank.
Consumers need to prepare the following materials when applying for bank car loan: valid identity documents of the borrower and spouse, household registration certificate or valid residence certificate, and marital status certificate;
Proof of income or personal assets of the borrower and spouse; Automobile sales contract; Other information required by the bank from the borrower.
Bank car consumption loans used to be the main way to buy a car with loans. In the last year or two, banks have gradually raised the threshold for car loans, and some banks even gave up the car loan business. The reasons are roughly as follows:
First, the loan risk is high and the overall profit level is low.
Compared with mortgage, car loan is more risky. Because cars are consumer goods, they depreciate rapidly. Once the borrower fails to repay the loan, the value of the car may be less than the loan owed, and it is more troublesome to dispose of it.
In the past, insurance companies and banks cooperated to provide insurance for car loans, and the car loan business of banks developed rapidly. But now that insurance companies are gradually withdrawing from the car loan insurance market, banks have to bear greater risks.
Due to the high risk and low income level of car loan, many banks have raised the threshold of car loan: down payment, loan interest rate and even collateral. Some banks even gave up their business in automobile mortgage.
Second, credit card installment has squeezed out the traditional mortgage loan.
Compared with automobile mortgage loan, credit card installment payment has a lower threshold for buying a car, generally without mortgage or even zero down payment, and only needs to pay a certain handling fee. Compared with loan interest, the installment fee may not be higher. Love loan financing platform can apply directly.