Information about car loans 2015

Automobile Loan Management Measures (revised in 2015)

Chapter 1 General Provisions Article 1 is to standardize the management of the auto loan business, prevent auto loan risks, and promote the healthy development of the auto loan business. According to the " These Measures are formulated in accordance with the provisions of laws such as the Law of the People's Republic of China on the People's Bank of China, the Law of the People's Republic of China on Commercial Banks, and the Banking Supervision and Administration Law of the People's Republic of China. Article 2 The term “car loan” as mentioned in these Measures refers to the loan issued by the lender to the borrower for the purchase of cars (including second-hand cars), including personal car loans, dealer car loans and institutional car loans. Article 3 The term "lenders" as mentioned in these Measures refers to commercial banks, urban and rural credit cooperatives and other approved commercial banks that are legally established within the territory of the People's Republic of China and approved by the China Banking Regulatory Commission and its dispatched agencies to engage in RMB loan business. Non-bank financial institutions in the auto loan business. Article 4 For the purpose of these Measures, the term “self-use cars” refers to the cars purchased by the borrower through car loans and not for profit; commercial vehicles refer to the cars purchased by the borrower through car loans and for the purpose of profit; used cars refer to Cars whose ownership has been changed and transferred in accordance with the law from the completion of motor vehicle registration procedures to one year before the prescribed scrap date. Article 5 The interest rate for automobile loans shall be in accordance with the loan interest rate regulations announced by the People's Bank of China, and the interest calculation and settlement methods shall be negotiated and determined by the borrower and the lender. Article 6 The loan period (including extension) of a car loan shall not exceed 5 years. Among them, the loan period (including extension) of a second-hand car loan shall not exceed 3 years, and the loan period of a dealer car loan shall not exceed 1 year. Article 7 Both parties to the loan shall abide by the principles of equality, voluntariness, honesty and trustworthiness. Chapter 2 Personal Auto Loans Article 8 The term “personal auto loans” as mentioned in these Measures refers to the loans extended by lenders to individual borrowers for the purchase of automobiles. Article 9 To apply for a personal car loan, a borrower must meet the following conditions: (1) Be a citizen of the People’s Republic of China, or have resided continuously in the territory of the People’s Republic of China for one year Residents and foreigners from Hong Kong, Macao and Taiwan and above (including one year);

(2) Having valid identity certificate, fixed and detailed address and full capacity for civil conduct;

(3) Have stable legal income or legal personal assets that are sufficient to repay the principal and interest of the loan;

(4) Have good personal credit;

(5) Be able to pay the down payment stipulated in these Measures Payment;

(6) Other conditions required by the lender. Article 10 When a lender issues a personal car loan, it shall comprehensively consider the following factors to determine the loan amount, term, interest rate, principal and interest repayment method and other loan conditions:

(1) Lender’s creditworthiness of the borrower Rating situation;

(2) Loan guarantee situation;

(3) Performance and use of the purchased car;

(4) Development of the automobile industry and automobile Market supply and demand. Article 11 The lender shall establish the borrower's credit file. The borrower's credit file should state the following:

(1) The borrower's name, address, valid identification and valid contact information;

(2) The borrower's income level and Proof of credit status;

(3) Car purchase agreement, car model, engine number, frame number, price and purpose of purchasing the car;

(4) Amount of loan, Term, interest rate, repayment method and guarantee situation;

(5) Loan collection records;

(6) Other information needed to prevent loan risks. Article 12 When a lender issues a personal commercial vehicle loan, in addition to the content stipulated in Article 11 of these Measures, the lender shall add the annual inspection status of the commercial vehicle operation qualification certificate, commercial vehicle depreciation, insurance status, etc. to the borrower's credit file. Chapter 3 Dealer Auto Loans Article 13 The term “dealer auto loans” as mentioned in these Measures refers to loans issued by lenders to auto dealers for the purchase of vehicles and/or spare parts.

Article 14 A borrower applying for a dealer car loan shall meet the following conditions at the same time:

(1) Have an enterprise legal person business license issued by the industrial and commercial administrative department;

(2) Have a vehicle sales agency certificate issued by the automobile manufacturer;

(3) The asset-liability ratio does not exceed 80%;

(4) Have stable legal income or sufficient repayment of the principal and interest of the loan Legal assets;

(5) The dealer, the dealer’s senior management and the customers who accept loan applications on behalf of the dealer have no major breach of contract or bad credit record;

(6) Loan Other conditions required by the person. Article 15 The lender shall establish an independent credit file for each dealer borrower and update it in a timely manner. The dealer's credit file should contain the following contents:

(1) The dealer's name, legal representative and business address;

(2) Copies of various business licenses;

(3) The dealer’s insurance purchase, commercial credit and financial status;

(4) Loan card (number) issued by the People’s Bank of China;

(5) ) The model, price and purpose of the purchased car and parts;

(6) Loan guarantee status;

(7) Other information needed to prevent loan risks. Article 16 The loan amount of the lender's loan to the dealer for purchasing vehicles and/or spare parts shall be based on the dealer's average inventory for a period, and the specific period shall depend on the dealer's inventory turnover.

What are the ways to get a loan to buy a car in 2015?

1. Bank car loan

Features: It is difficult to get approved, the interest rate is higher than credit card installments, and the term can be up to 5 years

Bank car loan is another Direct-to-customer automobile consumer loans refer to customers who intend to borrow money to purchase a car. They directly apply for a loan to the bank, communicate with the bank face-to-face, obtain a loan after agreeing on a loan plan that suits their actual situation, and then complete the car purchase and implement the mortgage guarantee. Auto consumption loan model.

According to industry insiders, from the perspective of credit development, automobile consumer loans first started with banks. However, banks are under pressure from the tightening of credit scale. Consumer loan business such as car loans has shrunk significantly, and the loan doors for some mid- to low-end cars have been temporarily closed. Therefore, this is also a relatively difficult method to operate among the major car loan channels.

After deciding to purchase a car model, car buyers can directly go to the bank to apply for a personal car consumer loan. However, the procedures for loan qualification review are very complicated. Generally, real estate (such as real estate) needs to be provided as collateral. Some banks will allow high-end customers or high-end models to use the car itself as collateral. However, compared with other car loan methods, the approval process is The time cycle will be longer, and the process can be completed within ten working days at the fastest, while some may take 1-2 months to complete the entire process.

We learned from the Personal Finance Department of the Business Department of the ICBC Provincial Branch that the maximum loan period for general automobile consumer loans is 5 years, with a down payment of more than 30 RMB, and the expected annualized interest rate of the loan is based on the benchmark expected annualized interest rate. The price rises above 15, and may rise as high as 30.

2. Cooperation between manufacturers and banks for car loans

Features: Cooperating car manufacturers provide discounts, often specifying models and installments

According to Jiang Bo, manufacturers and banks Cooperative car loans are generally realized through installment purchases of cars with credit cards. The cooperative car manufacturers subsidize the interest. The cardholder does not bear the handling fee or a small part of the handling fee. It is far lower than the expected annualized interest rate of the car loan for the same period. However, the choice of brand models is small and often designated Only the model and issue number can enjoy manufacturer subsidies, and customers can truly achieve 0 interest and 0 handling fees.

Jiang Bo said that CCB will launch at least one special group buying event for different cooperative brand models every month. Customers can follow the bank's SMS or WeChat.

3. Auto finance company loans

Features: low threshold, flexible loan methods, expected annual interest rate higher than bank loans in the same period, and many other charges

The convenience of loans from auto finance companies is not only reflected in the fact that they can be applied for directly through 4S stores, but also in that they do not require too many hard conditions such as household registration and real estate. This is also the most significant advantage of auto finance companies compared with bank car loans and other channels. One of the advantages. This kind of car finance and car loan method is usually more flexible and can adopt different installments to meet the needs of customers. Generally, it is not easy to apply for a three-year repayment period for a credit card car loan, but it is relatively easier for auto finance companies to apply for a longer repayment period, usually about three years, which reduces the pressure on car owners to a certain extent. At the same time, some auto finance companies also carry out vehicle replacement business, which can flexibly adopt the method of exchanging old cars to offset the down payment. Second-hand car customers only need to exchange the vehicle to a new car dealer, and then they can offset the down payment in exchange for a new car.

However, according to industry insiders, applying for auto finance loan approval is relatively "harsh". In addition to providing proof of personal identity and income, you also need to provide marriage certificates (for couples buying cars), real estate certificates, and personal bank accounts. It may even include utility bills, property fees, some current accounts of personal companies, etc. For non-civil servants, lawyers, doctors, state-owned enterprises and other stable and high-income professional groups, auto finance companies also stipulate that they must be guaranteed by a guarantee company. Not only is the procedure more cumbersome, but it also increases the lender's certain guarantee expenses.

4. Credit Card Installment

Features: Simple application information, 0 interest and low handling fees, exclusive quota, flexible period

According to Jiang Bo, Guizhou Branch of China Construction Bank Introduction, the most significant advantages of credit card car loans are fast approval and relatively simple procedures. If consumers use a credit card loan to purchase a car, they only need to use a credit card with a valid period and a good credit record, provide their ID card and apply to the card-holding bank to purchase the car in installments. Even if you don't have a credit card, you can still purchase a car with a credit card at a car dealer.

We learned from many banks that credit card installment payment has become the most popular method for customers to purchase cars with loans. Dai Jianghong from the Bank Card Center of the Business Department of the ICBC Provincial Branch said that the installment purchase procedure with credit cards is convenient. For example, premium customers of ICBC do not need to pledge the vehicle, and there are basically no restrictions on brands and models. In addition, preferential discounts have also been implemented this year for the installment car purchase fees with credit cards. For installment car purchases through civil servant cards, Chimelong cards, and transportation cards, the handling fees for 36 installments are discounted for later handling fees. Later generations Jiang Hongwei settled the account, that is, It is said that if 100,000 yuan is repaid in one year, the handling fee will be about 3,190 yuan, and if it is repaid in two years, the handling fee will be about 6,600 yuan. Since ICBC started using credit card installments to purchase cars in 2010, its business volume has increased year by year, and it handles hundreds of transactions every day across the province.

The ways to get a car loan in 2015 are nothing more than the above. You should carefully compare the pros and cons of various car loan methods, choose the appropriate car loan method according to your own situation, and try to choose a trustworthy car. After being optimistic about the car model, dealers and companies should try their best to provide complete and detailed application materials so that they can be approved quickly. If you are paying by credit card in installments, please carefully confirm the amount, number of installments and handling fees on the purchase order when swiping your card, and confirm that they are correct before signing.

What are the conditions required to get a car loan in 2015?

If you have any questions about the procedures required to buy a car with a loan, you can consult the editor of Soudai.com!

First, a loan to buy a car must meet the following conditions before you can successfully obtain a loan:

A citizen who is over 18 years old and has full capacity for civil conduct; has a legal identity document and a Valid local residence certificate; sufficient repayment ability and ability to provide relevant certificates.

Second, the materials needed to buy a car with a loan and the loan application process

The materials needed to apply for a personal car loan:

1. Personal loan application form, You can go directly to the loan platform to fill it out;

2. Valid personal identification documents, including resident ID card, household registration book, military officer ID card, passport, travel pass for compatriots from Hong Kong, Macao and Taiwan, etc.

If the borrower is married, the borrower is required to provide proof of identity of the spouse.

3. The lender’s household registration certificate or long-term residence certificate;

4. Personal income certificate, if necessary, family income or property certificate must be provided;

5 , Proof of intention to purchase a car issued by a car dealer;

6. Proof of down payment for a loan to buy a car;

7. Mortgage in a manner other than the purchase of a vehicle, for example: a house , stores, etc.; it is necessary to provide relevant materials for the collateral, including pledge certificates of rights, certificates of ownership and evaluation of mortgaged real estate, letters of intent for third-party guarantees, etc.;

For example, if the vehicle purchased with a loan is for corporate use If you are purchasing a vehicle, you must also provide proof that the purchased vehicle is legally used for business operations, such as an affiliation agreement for the vehicle to be affiliated with a transportation fleet, a lease agreement, etc.;

8. If it is purchased with a loan For second-hand cars, you also need to provide proof of intention to purchase the car, a vehicle evaluation report issued by an evaluation agency recognized by the bank; the vehicle ownership certificate for the vehicle being sold, the "Motor Vehicle Registration Certificate" of the purchased vehicle, the vehicle annual inspection certificate, etc.

The process required for applying for a loan to buy a car:

First of all

The bank will conduct a preliminary review of the application materials submitted by the lender; the bank will conduct a credit check on the lender Investigation and customer evaluation; the bank will review and approve loan applications that pass the preliminary investigation and meet the loan conditions; after approval, the lender will be notified

to handle relevant procedures such as contract signing, loan lending, mortgage or pledge;

After the loan contract takes effect, the handling bank will issue the loan. A special lending method is adopted, that is, according to the loan contract, the handling bank directly transfers the loan to the account of the dealer where the borrower purchased the car. If it fails to pass the examination and approval, the bank

must explain it to the lender.

2015 Toyota Financial Mortgage Car Loan Requirements

For questions about loan application, you can consult the dealership’s loan financial specialist.

Toyota Auto Finance requires a minimum down payment of 20%, fast approval, and transparent prices. Apart from interest, Toyota Auto Finance has no other charges. Toyota Motor Finance's expected annual interest rate is based on the central bank's benchmark expected annual interest rate, and then rises by a certain percentage.

There is a limit to the floating ratio, which cannot exceed 4 times. Two interest rate cuts have been carried out, with the total rate of reduction reaching 0.5, so the expected annual interest rate of the loan benchmark is low. There will be certain differences in loans from different banks and different companies. Although it won't be noticeable if the amount is small, when you encounter a larger amount of loan, you have to choose a lower interest rate, and there will be a lot of differences.

Extended information

Toyota Financial Mortgage Car Purchase Process

1. Lead the customer to choose a car at the bank's authorized dealer and sign a car purchase agreement or contract;

2. The borrower applies for a personal car mortgage loan from the lending bank;

3. Sign the contract after investigation and approval;

4. Handle car notarization, mortgage, etc. Procedures;

5. The lender (bank) handles the loan;

6. After the loan is repaid, the lender (bank) cancels the pledge certificate and returns it to the customer.