What Are the Conditions for Car Loans?

[LaValentina]

Buying a car with installment loans requires a stable income source, and you need to provide three to six months of bank statements. Note: Generally, the monthly payment should not exceed 60% of the family's disposable income. Below is a detailed introduction for those who want to finance a car: The buyer must be at least 18 years old: and must be a Chinese citizen with full civil capacity. Stable income: The buyer must have a relatively stable job and a steady income or possess easily liquidated assets to ensure timely repayment of the loan principal and interest. Easily liquidated assets generally refer to securities, gold, silver products, etc. Down payment for the car: During the loan application period, the buyer must deposit no less than the down payment required by the bank in their account at the designated bank savings counter. Provide collateral: The buyer must provide collateral approved by the bank. If the buyer's household registration is not local, they must also provide joint liability guarantees. The bank does not accept the car purchased with the loan as collateral.