What is the repayment method of vehicle mortgage loan? Which is more economical? The threshold of unsecured loans is high, and now many people choose secured loans. Mortgage loan has a higher pass rate and a higher loan amount than unsecured loan. The borrower can only mortgage the collateral to the lending institution, so the borrower has high-value collateral at hand, and mortgage loan is also a very good choice.

Vehicle mortgage loan is very convenient. If we can find a professional lending institution, we can complete the loan and get the loan on the same day, which not only ensures our smooth capital turnover, but also will not affect our daily work.

However, the loan must be repaid regularly. Moreover, this kind of loan is suitable for short-term loans, and choosing a suitable repayment method can save a lot of money. Next, the editor briefly introduces the repayment method in automobile mortgage.

I. Repaying principal and interest

This is also the most common method, based on the interest generated by the monthly loan balance and the monthly repayment of the principal. The car mortgage initially paid off the remaining loan balance, and the interest in the first few months was definitely quite a lot.

Second, the principal repayment.