Automobile mortgage is a loan obtained from a financial institution or an automobile consumption loan company with the borrower's or a third party's car or self-purchased car as collateral. The purpose of loans with automobiles as collateral is mainly automobile consumption.
Generally speaking, domestic banks do not provide automobile mortgage services, so it is generally necessary to find private professional credit institutions to apply for such services. For example, automobile mortgage service is a short-term microfinance service for small enterprises, individual merchants and entrepreneurs.
"Car loan" is divided into two forms: parking and non-parking.
Escort car: Give the car to the company for safekeeping. There is a parking lot dedicated to parking the car, and there is a special person to watch it 24 hours a day. Lights the car regularly to warm up.
Don't mortgage the car: customers can choose to just put the formalities in the company, or use the car for their own use, and need to apply for mortgage registration. The loan business is flexible and fast, and the amount can generally reach 70-80% of the assessed amount. Generally, the loan can be released on the same day when the formalities are complete. Mandatory provisions on vehicle mortgage loan: the car under the name of an individual, the full amount, and the car within the service period.
Precautions:
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. For example, banks, micro-loan work 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.