우리은행 중고차대출“Woori Bank Used Car Loan vs. Other Bank Used Car Loan”
There are only two important points for Woori Bank Used Car Loan. Low interest rate, high limit. In other words, it is important to check whether I can receive a lot of preferential interest rate and how much limit I can receive. Below, I have summarized the limit inquiry, preferential interest rate conditions, and interest rate comparison. 2023.9.13
As of
1. K Bank
Car Loan
2. Hana Bank
One Q Auto Loan
3. Shinhan Bank
My Car
4. Woori Bank
Woori Dream Car
5. Kookmin Bank
KB Magic Car
New Car Interest Rate
4.80%~9.79%
5.13%~6.27%
5.79%~6.39%
5.82%~7.02%
6.07%~7.57%
Used Car Interest Rate
5.51%~9.80%
5.13%~6.27%
5.80%~6.40%
6.01%~7.21%
7.23%~8.73%
Loan Limit
New Car 80 million
Used Car 50 million
New Car 60 million
Used Car 40 million
New car 60 million
Used car 40 million
New car 60 million
Used car 40 million
New car 60 million
Used car 40 million
Loan period
New car 1~10 years
Used car 1~5 years
New car 1~10 years
Used car 1~5 years
New car 1~10 years
Used car 1~5 years
New car 1~10 years
Used car 1~5 years
New car 1~10 years
Used car 1~5 years
Loan target
Employee/business income earner with annual income of 20 million won or more
Employed for 6 months or more/Those who can prove business income for 1 year or more
Employed for 6 months or more/Those who can prove business income for 1 year or more
Employed for 6 months or more/Those who can prove business income for 1 year or more
Employed for 6 months or more/Those who can prove business income for 1 year or more
Employed for 6 months or more/Those who can prove business income for 1 year or more Those who can prove their business income
Limit Inquiry
Inquiry
Inquiry
Inquiry
Inquiry
Inquiry
Inquiry
As you can see in the table above, the interest rate for Woori Bank’s used car loan is a little high. However, if you frequently use Woori Bank, you can receive preferential interest rates, which can be more advantageous. Please check the preferential interest rate conditions below.
Basically, if you have a salary account (account), have a record of more than 300,000 won in Woori Bank every month, or use the WooriWON banking app, there are many conditions that you can easily receive.
However, the preferential interest rate for eco-friendly cars is a whopping 1%. Since most used cars are internal combustion engine cars, if you give up 1%, you will have to struggle to collect all the remaining conditions to receive 1.2%.
*Caution: You must receive a preferential interest rate of up to 1.2% to reach 6.01% (the lowest interest rate for used cars).
The repayment method for Woori Bank’s used car loan is the equal principal and interest repayment method. The name is difficult, but it refers to the method of dividing the principal + interest into 60 months (5 years) and paying the same amount every month. In reality, if you borrow 30 million won for 5 years, you have to pay 579,983 won every month.
“Be sure to calculate it in advance with your expected loan amount.”
This is something you absolutely must know. Second-tier financial institutions use your car as collateral for used car loans. If you can’t pay it back, they take your car. However, first-tier financial institutions strangely use Seoul Guarantee Insurance’s guarantee certificate as collateral. This means that they will use people (credit) as collateral, not cars. So you need to get a guarantee certificate for first-tier financial institutions’ car loans. Of course, there are conditions.
It’s more complicated than you think. Recently, K Bank, an internet bank, has become the only first-tier financial institution to offer a used car loan product that uses a car as collateral (mortgage) like second-tier financial institutions without the need for a guarantee certificate. So you can use it even if your credit rating is low. If you can’t get a used car loan from Woori Bank, you can consider this as Plan B. 📌1st Finance VS 2nd Finance Pros and Cons of Car Loans (ft. K Bank’s Different Method)
Before checking, you must already have the WooriWON Banking app and a Woori Bank account.
After accessing the WooriWON Banking app, click on Products>Loans>Car Loans at the bottom. Now, choose the product that applies to you among Woori Dream Car Loans, Used Cars, and Conversion Loans (Switching).
If you have not received a loan from Woori Bank, a 0.3% preferential interest rate coupon will appear. After that, agree to the three important matters and select your job type.
Now, enter customer information (loan purpose, personal assets, debts, annual income, etc.) and vehicle information to quickly check the loan limit.
After entering a few more details, the final loan application will be completed.
Once the limit check is complete, the application will begin in earnest. Please write down your personal information in detail, such as your personal address, mobile phone number, work address, work name, and work number.
Next, enter the loan contract information. Please carefully write down the Woori Bank used car loan application amount, repayment method, loan period, expected execution date, etc.
Now, select the preferential interest rate conditions that apply to you. Now, if you apply the preferential interest rate, the application is complete. The loan will soon be transferred to the car dealer’s account, not your own account.
“If you have any problems while checking the limit or applying, please contact Woori Bank Talk Consultation or 1599-8300 (Woori Bank New Loan Consultation Center).”
(Talk Consultation is only available on PC)
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