To apply for a vehicle mortgage loan, there are several issues that need attention.

Second, the specific analysis

1. Whether personal credit is well maintained.

Whether you apply for a vehicle mortgage loan from a bank or other licensed consumer financial institutions, the borrower's credit information will always be checked during the approval process.

Therefore, it is necessary to ensure that there are no bad records or serious negative information in the personal credit report.

2. Whether you have the ability to repay on time.

The borrower needs to prepare sufficient proof of economic income to prove that he has the ability to repay the principal and interest of the loan on time, otherwise the loan will not be easily approved.

3. Whether the ownership of the mortgaged vehicle is clear.

The vehicle used as mortgage must be a non-operating vehicle under my name, preferably without any mortgage. Not all banks or other licensed consumer financial institutions support two mortgage.

4. Whether the mortgaged vehicle is a local vehicle.

Most banks or other licensed consumer finance institutions are only allowed to mortgage local vehicles for loans. Although a small number of them support the mortgage of vehicles with different license plates, they will need to go to the vehicle management office where the vehicles are registered, and the process will be more complicated.

5, car age, mileage is in accordance with the provisions.

Different banks or other licensed consumer finance institutions will have different regulations on the service life and mileage of mortgaged vehicles (please call customer service for details).

Take the car owner loan of Ping An Bank as an example.

The service life of the mortgaged vehicle shall not exceed ten years (subject to the date of first registration), and the mileage shall not exceed150,000 km.

6. Whether the loan method needs mortgage.

There are two ways of vehicle mortgage loan: mortgage and non-mortgage. If mortgage is required, the vehicle shall be driven to the designated place of the bank or other licensed consumer financial institutions for safekeeping.

If you don't want a car, the owner can still drive. Generally, it is only necessary to put the vehicle registration certificate in the bank or other licensed consumer finance institutions.

7. Whether to install GPS on the mortgaged vehicle.

Some banks or other licensed consumer finance institutions may require the installation of GPS on mortgaged vehicles to prevent the borrower from being unable to repay the loan later, and then the vehicle can be taken away (GPS cannot be removed before the loan is settled).

8. What is the maximum loan amount?

The loanable amount of vehicle mortgage loan is related to the value of the mortgaged vehicle. The higher the general value of the vehicle, the higher the loanable amount (the loanable range is about 50% to 70% of the vehicle value).

9. Whether the loan interest is normal.

(1) Pay attention to whether the loan execution interest rate is at a normal level. If the interest rate is too high, the borrower can refuse to repay the interest beyond a reasonable range.

(2) See if the loan contract records the collection of other fees. If there are too many symbolic extra expenses (such as security deposit and management fee), you can also report them.

10. What is the longest loan term?

Because cars are easy to depreciate, the loan period of vehicle mortgage loans is generally short, which is suitable for short-term capital turnover.

If a long-term loan is needed, it is recommended to use other assets as collateral for the loan.

Online loan big data can clearly reflect the user's recent application for online loans, whether online loans are repaid on time, and whether identity information is suspicious. You can get a detailed risk report through credit inquiry tools such as "Xiaoqi Credit Check".

3. Can I borrow a car for five years?

You can borrow a car loan for five years. Generally, the longest period for applying for a car loan is five years, and most of them will choose a loan of 1-3 years. If the lender has a five-year loan demand, he can communicate with the car dealer, which is generally no problem.

When a lender applies for a car loan, there are generally two options: bank loan and factory financing. Relatively speaking, the interest rate of bank loans is lower, but the bank will examine the lender more strictly, check the lender's credit reporting and repayment ability, and may be refused loans.

Compared with banks, the financial audit of manufacturers is not so strict, but the qualifications of lenders will still be examined, but the audit method is slightly looser. If there is no activity discount on interest rate, the loan interest rate of manufacturer finance will be higher than that of bank loan.

In most cases, car loans can be repaid in advance, and many lending institutions will not charge fees for prepayment.

However, different institutions have different rules. If the lender wants to choose early repayment, it is best to consult customer service first.