Actually, it's not the same as giving up the car voluntarily. After all, lending institutions lend money to buy cars instead of lending them directly. It must be clear that the borrower owes money to the lending institution, not the car.

Many people may say that the vehicle has been mortgaged at the time of loan, and it has been mortgaged to the lending institution, so just give it to them directly. It seems to be true, but don't forget that the loan car will be a used car when it is auctioned again. Unlike second-hand houses, second-hand cars will definitely depreciate compared with new cars, so it does not mean that banks can successfully recover loans when they sell cars.

If the money after the auction is lower than the loan amount, the lending institution will still ask the borrower to pay back the money if the money is not enough. Obviously, it is not a very cost-effective practice to give up the vehicle voluntarily if the car loan is not enough. The important thing is that personal credit will be affected because there is no repayment.

If you can, borrow money directly from friends and relatives, pay off the car loan first, remove the mortgage, and then sell the car to pay back the money; Or find a person who wants to buy a car, let him pay the down payment to repay the loan, settle the loan and release the mortgage, then transfer the car and get the car money after deducting the down payment.

This can not only dispose of vehicles without affecting credit, but also reduce losses, which can be described as killing two birds with one stone.

Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers. The interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal given by the bank to consumers, that is, borrowers, for purchasing their own cars (non-profit family cars or commercial vehicles with less than 7 seats). The higher the interest rate, the greater the repayment amount of consumers.

The term of automobile consumption loan is generally 1-3 years, and the longest is no more than 5 years. Among them, the term of second-hand car loan (including extension) shall not exceed 3 years, and the term of dealer car loan shall not exceed 1 year.

According to the regulations of the central bank, the benchmark interest rate is implemented for auto loans, but financial institutions can float within a certain range of the benchmark interest rate. The term of auto loans in major banks is generally less than five years, and the interest rate of auto loans directly determines the cost of people's loans and becomes an important factor in determining whether people lend.

The worst consequence of not paying back the car loan is that you can't pay back the car.

First of all, answer directly.

If the borrower is unable to repay the car loan, he can choose to voluntarily give up the car.

Second, the specific analysis

However, it should be noted that the voluntary abandonment of the car here does not mean that the borrower will be fine if he returns the car to the financial institution.

After all, for financial institutions, cars are only collateral, and borrowers borrow money, not cars.

Therefore, if the borrower is unable to repay the loan, either hand over the car to the financial institution for auction.

The money auctioned by financial institutions is used to repay the arrears. If the auction money is not enough, the borrower needs to continue to repay the loan.

If the proceeds from the auction exceed the arrears, the remaining money belongs to the borrower.

If the financial institution refuses to accept the car auction, the borrower can only find the next buyer himself and then sell it to the second owner at a lower price.

As for the rest of the loan, it is naturally borne by the second husband.

Many borrowers will wonder why banks are unwilling to recycle loan cars for auction.

Everyone should understand that the second auction of loan cars is used cars. Unlike second-hand houses, second-hand cars will definitely depreciate compared with new cars, so it doesn't mean that banks can successfully recover loans by selling cars.

Obviously, it is not a very cost-effective practice to give up the vehicle voluntarily if the car loan is not enough. The important thing is that personal credit will be affected because there is no repayment.

If it is not because of overdue illegal households, then we should look for other reasons, such as whether the frequency of applying for online loans is too high. If you are not clear, you can go to Beijian to check. As long as you know what causes you to become a black household, you can improve online loan big data according to the reasons.

3. Where can I apply for car loan?

Mainly private individuals and banks.

1, private auto financing company

The biggest advantage of private auto financing companies applying for auto loans is that they can buy them directly in 4S stores.

Borrowers can choose cars directly in 4S stores, and after selection, they can apply for loans directly online.

All the loan application materials and loan application processes are assisted by the 4S shop, which avoids many mistakes.

Of course, the loan interest rate of private auto finance companies will be slightly higher.

In addition, 4S stores apply for loans directly, and borrowers may have to pay some extra formalities and service fees.

2. Bank car loans

The biggest advantage of bank car loan is that the loan interest rate is low, but the threshold for bank loan application is very high, and the procedures for most banks to review the qualifications of borrowers are very complicated.

Moreover, compared with other car loan methods, the time period for approval is very long.

You can choose the car loan method that suits you according to your actual situation.

Car mortgage company, you can't taste it anymore. I don't want this car. Is it okay?

Yes, but we have to go through all the formalities.

Matters needing attention

1, most cars are mortgaged with a mortgage card instead of a car. That is to say, as long as you mortgage the relevant documents of your car to a lending institution, you can get a loan, and the car can be used as usual after installing GPS. Therefore, before making a mortgage, we must first understand whether the car mortgage has a mortgage, and try to avoid the institutions that want to mortgage the car;

2. automobile mortgage's funds are often used for short-term turnover. If long-term loans are needed, it is not applicable to borrow money with cars as collateral;

3. Because automobile mortgage often produces higher expenses, if you choose a vehicle mortgage loan with a long cycle, you can try to repay it in advance if there is prepayment.

4. When choosing institutions, borrowers should try to choose formal lending institutions. Such as banks and small loan companies in industrial and commercial registration. Only on this basis can we truly protect our legitimate rights and interests, and once disputes arise, the law can solve them.

Extended data:

Different institutions in automobile mortgage have slightly different requirements when applying.

Generally speaking, the general situation is:

1, the original ID card, residence booklet or other valid proof of residence, and provide its copy;

2. Proof of occupation and economic income;

3 car purchase agreement, contract or letter of intent signed with the dealer;

4. Other documents required by the Cooperation Organization.

5. This kind of car mortgage without parking needs to meet the following conditions: having a stable job, the applicant has the ownership of the local mortgaged car, and his business is to live and work in this city for a long time.

Motor vehicle registration certificate, driving license, purchase additional tax certificate (original), car purchase invoice, insurance policy, vehicle and vessel tax, relevant tax payment certificate for imported vehicles, ID card (temporary residence permit provided by non-local account customers within the validity period).

Baidu encyclopedia-automobile mortgage