What are the conditions for buying a car with installment payments at a 4S store?
3 Answers
The conditions for buying a car with installment payments at a 4S store are as follows: 1. Be at least 18 years old and under 60 years old; 2. Be a resident with a permanent household registration in the location and have a fixed residence in the location; 3. Have the ability to repay the loan principal and interest, a stable income, and the monthly payment should not exceed 60% of the family's disposable income; 4. Have opened a "One Card" account; 5. A third-party natural person must provide a guarantee, and spouses cannot guarantee each other. Documents required for installment car purchase: 1. ID card and household registration book; 2. Loan application form; 3. Housing certificate; 4. Personal income certificate; 5. Guarantor's ID card and household registration book (all documents must be original and two sets of copies).
As an ordinary car buyer, I’d like to share that when financing a car at a 4S dealership, there are several key requirements to consider. First, a good credit history is essential—banks will check your credit report, and any unpaid debts or overdue records may lead to rejection. Proof of income is also mandatory, requiring a stable job with payslips or bank statements showing a monthly income at least twice the monthly payment. The down payment typically ranges from 20% to 30%; for example, on a ¥100,000 car, you’d need to pay ¥20,000 to ¥30,000 upfront. Identity documents must be complete, including your ID card, household registration, and proof of residence like utility bills. A guarantor might be an option for young buyers with poor credit, as it can improve approval odds. It’s advisable to address any credit issues months in advance to avoid last-minute hassles, especially since interest costs can rise—calculating the total expenses upfront helps prevent regrets later.
When I was young and just started working, I wanted to buy a car on installment. The 4S store had straightforward requirements: a valid ID card is mandatory to prove your legal identity; proof of stable income is needed, such as submitting your last three months' pay stubs or tax returns, as the bank will verify your actual repayment capability; credit score is crucial—if your score is low, the down payment might increase to 30% or more, or you may even need your parents to co-sign the loan; the minimum down payment starts at 15% of the car price, but as a beginner, it's better to save up to 20% to make monthly payments more manageable. Don’t forget to bring all the required documents to avoid extra trips—the salesperson usually helps prepare the materials, but checking your credit report online in advance can save time. Also, be aware that interest rates can fluctuate significantly.
