Personal Automobile Consumption Loan

The personal automobile consumption loan refers to the individual consumption loan issued by the Bank to the qualified natural person who has paid the required proportional down payment to purchase non-commercial self-use automobile (including used automobile)from our bank's approved partners. 

Product Features

1.Long loan period, the new automobile consumption loancan be up to 5 years  (including extensions), and the used automobile consumption loan can be up to 3 years  (including extensions).

2.High Loan Amount : The maximum loan amount for new traditional fuel vehicles generally does not exceed 80% of the vehicle price, while for new energy vehicles, it does not exceed 85%. The maximum loan amount can be appropriately increased for vehicles that meet our special policies; for used cars, the maximum does not exceed 70% of the vehicle price. 

3. Fast loan approval, and timely loan granting, we offer the quickest one-day granting for picking up your automobile.

4. Differentiated pricing for loan interest rates, subject to the final approval result of the Bank.

Applicable Customer

1. A natural person with full civil capacity, aged 18 or above and not exceeding 70 years old (inclusive) when the loan period expires.

2. Stable occupation and income.

3. Good personal credit status.

4. The purchased automobile is for personal or family use.

Application Process

1.You can choose to process the relevant business through our bank when purchasing a vehicle from our partner car manufacturers or dealerships. 

2.Loan Process

Secured loan process: Loan application → Lending investigation → Loan examination and approval → Loan contract signing → Loan granting → Automotive mortgage.

Unsecured loan process:  Loan application → Lending investigation → Loan examination and approval → Loan contract signing → Loan granting.

Application Materials

1.Identification certificate materials (such as the resident ID card, etc.).

2.Income proof materials (such as bank statements, tax proof, etc.).

3.Usage-proof materials (such as the automobile purchase invoice, contract, etc.).

4.Other relevant materials.

Tips

1.This page is for reference only; the specific business process standards are subject to the provisions at the local outlets;

2.For any services, please call the 24-hour customer service hotline at 95568 of China Minsheng Bank.