우리은행 중고차대출In the case of used car financing, capital companies control about 80% of the domestic market, but the high interest rate of 15-18% per year is burdensome when using capital companies, so more and more people are looking into bank used car loan products. In addition, there is an advantage in that additional costs such as collateral establishment fees and joint guarantees that occur when using capital installment financing are not added.
According to experts, the used car market is expected to continue to be active, and if automakers such as Hyundai Motors become independent in the used car market, the market size is expected to expand even faster. It is also expected that there will be more loan products linked to commercial banks.
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In this posting, we will take a closer look at the Woori Bank Woori Dream Car Loan (used car) product for those who want to purchase a used car. Our Dream Car Loan (Used Car) is a loan product for those who want to purchase a used car. It is possible to borrow at a lower interest rate than the Capital installment loan interest rate, and can be used conveniently through smart banking without visiting a branch.
▶ Loan target – If you have signed a used car sales contract with an automobile sales company, can prove your income and employment, and can be issued with an auto loan insurance policy from Seoul Guarantee Insurance, you are eligible for a loan. ※ Employees with income of more than 6 months / Business income earners with income of more than 12 months / Pension income earners
※ Target vehicles – Automobiles under the Automobile Management Act include passenger cars (all types), vans (all types), cargo vehicles (loading capacity of 5 tons or less), and special vehicles (camping trailers). However, there is a vehicle age limit, and it must be within 15 years from the initial registration date based on the loan execution date. ※ Not available for commercial vehicles ※ Loans may be restricted depending on personal credit rating and screening criteria.
▶ Loan limit – Up to 40 million won within the vehicle sales price (not including incidental expenses)
※ Incidental expenses: Registration tax, public bond purchase, acquisition tax, automobile tax, insurance premiums, etc. specified in the contract
– Loans are available within the Seoul Guarantee Insurance guarantee limit calculated based on the customer’s credit rating and annual income. Customers under 25 years of age can borrow up to 80% of the car’s sales price.
▶ Loan interest rate
– Loan amount 20 million won or more ~ 40 million won or less, 60 months, equal principal and interest installment repayment, based on the bank’s internal credit rating of level 4, the base interest rate is 1.64% per annum, the basic interest rate is 4.72~4.73% per annum, the preferential interest rate is 0.90%, and the minimum interest rate is 3.82%~3.83% per annum.
▶ Preferential interest rate: Up to 0.9%
▶ Loan period
– 1 year or more ~ 5 years (no grace period)
▶ Repayment method
– Equal installment repayment of principal and interest
▶ Collateral: Seoul Guarantee Insurance Securities
▶ Early repayment fee (termination fee)
: Incurred when repaying within 3 years from the loan handling date ※ If 3 years or more have passed from the loan handling date or the loan maturity date is within 1 month: Exempted ※ Calculation method: Early repayment loan amount × Early repayment termination fee rate (Note 1) × Remaining period ÷ Loan period (Note 2) · (Note 1) Early repayment termination fee rate: 0.6% · (Note 2) Loan period: If the loan period exceeds 3 years, the 3rd year is considered the loan period expiration date
▶ Loan method – Direct remittance to the sales company (the loan amount is deposited into the car sales company account after the loan.)
▶ Required documents
▶ Notes
– When you apply for a loan, your credit information inquiry record will be provided to the credit information company.
– If you have a history of handling car loans through the vehicle identification number inquiry, you will be restricted from applying for a loan with the same vehicle.
– You cannot handle this loan, capital installment loan, or card loan at the same time for vehicle purchase. – If you have 3 or more cash service transactions or 3 million won or more, card loan of 3 million won or more, or 3 or more credit loans from non-bank financial institutions before the loan is executed, the loan will be canceled if you fall under any of the reasons for loan rejection. – The customer’s loan eligibility, loan amount, loan interest rate, etc. are determined based on Woori Bank’s screening criteria, credit rating, transaction history, and product-specific handling conditions.
– If the principal and interest that must be paid for a certain period are overdue, you may be required to repay all principal and interest before the contract expiration date.
– Customer Service 1588-5000, 1599-5000 (press 0 and then 4), New Loan Consultation 1599-8300, Woori Bank website
We have looked into Woori Bank’s Woori Dream Car Loan (used car) so far.
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