There are two kinds in automobile mortgage.
1. automobile mortgage only.
Handling procedures: vehicle inspection procedures-vehicle inspection-vehicle mortgage registration in vehicle management office-signing loan agreement-withdrawing money on the day of loan.
This kind of loan is more convenient for customers. After all, the car can still be used by itself, but the interest will be slightly higher than that of the directly mortgaged vehicle, depending on how to choose.
2. automobile mortgage
The loan procedures for directly mortgaging vehicles will be simpler.
Handling process: car inspection procedures-car inspection-signing loan agreement-lending at that time.
The maximum loan period for an ordinary car is 3 years. The mortgage interest rate is up to 50%. According to the loan term, you need to apply for auto insurance for the corresponding period. If you want to get a mortgage, go directly to the bank. Don't apply for mortgage through the garage. The latter ratio is higher.
Some banks generally do not recognize this kind of collateral, unless there is a guarantee company to guarantee, and it is safest to give the vehicle to the guarantee company for counter-guarantee! Banks generally only recognize real estate as collateral.
Conditions for handling automobile mortgage in Shanghai:
1. The applicant has the ownership of the mortgaged vehicle.
2. Apply for long-term residence in the local area and have a stable job.
3. Relevant documents of the mortgaged vehicle: motor vehicle registration certificate, driving license, certificate of purchase of additional tax (original) and car purchase invoice.
4. Insurance policy, travel tax, and relevant tax payment certificates for imported vehicles.
5. ID card (temporary residence permit or residence permit within the validity period provided by non-local account customers)
Private car owners in Shanghai generally need ID cards, motor vehicle registration certificates, motor vehicle driving licenses, insurance policies and spare car keys. And enterprise car loans also need organization code certificate, IC card, official seal and legal representative ID card. There are also related materials for buying a car at that time and so on. Better take them. Generally, as long as you have a car, you can get a car loan. The car loan company will give the loan amount according to the value of your car and the car loan product you choose. After confirmation, the two parties sign a formal contract and can lend money on the same day.