The car mortgage loan business is divided into two types: car mortgage loans and non-car mortgage loans. Auto mortgages have lower expected APRs than non-auto mortgages. No deposit required for a car mortgage. In addition to interest, you also need to pay storage fees, etc. Generally speaking, the expected annual interest rate of a car mortgage loan without a car pledge is slightly higher than that of a car mortgage loan with a car pledge. Currently, the monthly expected annual interest rate is generally between 1.8% and 2.5%. Suppose we apply for a car-free loan of 50,000 yuan for 6 months, and the expected monthly annualized interest rate is 2%, then the total interest should be 50,000×2%×6=6,000 yuan. You can also use the formula: loan interest = loan amount × loan expected annual interest rate × loan term to calculate your own loan interest.

Vehicle mortgage loan non-pledge application process:

1. The borrower consults the lending institution (bank or loan company) about the loan business and submits an application;

2 . The borrower should prepare all materials required by the lending bank and submit them to the bank.

3. The lending institution evaluates the mortgaged vehicle.

4. The lending institution will review the materials submitted by the borrower.

5. After passing the review, the borrower will be notified to sign a loan contract.

6. Apply for vehicle mortgage and pay the appraisal notary fee.

7. Lending institutions should install GPS on mortgaged vehicles.

8. The borrower should repay the loan as required.

Other notes: 1. Car mortgage loans without car mortgage loans are very risky. The reason is that cars have greater losses than other mortgages and depreciate faster, so banks have been afraid to lend out for too long.

2. Usually, the interest rate for bank car mortgage loans without car mortgage is calculated on a monthly basis. No mortgage required car mortgage loan. In addition to interest, you also need to purchase a GPS instrument, which costs about 1,500 to 2,000 yuan.

3. Generally speaking, if the borrower uses his or her car as collateral, the maximum loan amount can reach 70% of the total value of the car. People think that the loan amount cannot meet the financing needs, and they can also apply for a loan from a guarantee company. Apply for a higher loan amount with help.

4. If such a loan is not repaid in time, it will be called back by the bank or lending institution. Please ensure that you have enough money to repay the loan, otherwise property losses will occur.