1, the car value is difficult to evaluate.
In addition to the applicant's credit information, the amount of mortgage loan basically depends on the evaluation value of the mortgaged vehicle. But in fact, it is difficult to evaluate the value without a special automobile evaluation system. The evaluation of cars in the market mostly depends on the so-called appraisers, and there is basically no standard.
This car depreciates too quickly.
Cars belong to the category of electronic goods and consumables, so they will depreciate over time. As long as the loan period is long, it is possible that the actual value of the vehicle will not be lower than the loan amount, thus greatly increasing the risk of the loan.
3. The handling process is very troublesome.
To apply for a car loan, you have to go to the vehicle management office to check the car, and the relevant procedures are complicated and cumbersome. If the borrower fails to repay the loan, the vehicle will be auctioned. Needless to say, the loan may not be paid.
4. High management cost
Car loans need to be kept in custody, and banks need to find warehouses and recruit people to take care of them, all of which require costs. Moreover, during the storage period, if the vehicle is damaged or robbed, the bank will be liable for compensation, which is not cost-effective from the perspective of cost and risk.
Enough about the question "Why mortgage loans are not favored by banks". You got it? Therefore, if you want to apply for a car loan, you still have to choose a non-bank financial institution, and you must read the qualifications and other related contents clearly.