What is Required for Car Installment Purchase?

[McGia]

Detailed information about car installment purchase is as follows: 1. Materials required for installment purchase. Personal loan application; valid identification of the applicant and spouse; proof of occupation, position, and income of the applicant and spouse; original ID card, household register, or other valid residence documents, along with copies; car purchase agreement, contract, or letter of intent signed with the dealer; proof of down payment or initial deposit; documents or materials required for guarantee; other documents required by cooperative institutions. 2. Conditions for installment purchase. Must be at least 18 years old and under 60 years old; must be a resident with a permanent household registration in the local area and have a fixed residence; must have the ability to repay the loan principal and interest, with a stable income, and the monthly installment should not exceed 60% of the family's disposable income; during the loan period, one must purchase "Motor Vehicle Consumer Loan Guarantee Insurance" from an insurance company recognized by the bank and continuously insure "Motor Vehicle Insurance"; a third-party natural person must provide a guarantee, but spouses cannot guarantee each other.