Buying a car by mortgage means that consumers apply for a mortgage from a car dealer and follow the process of buying a car by mortgage. Guarantee companies (usually banks) require customers to prepare personal information in accordance with relevant regulations and confirm its authenticity. Including: marriage certificate, identity card, real estate license, income certificate, residence permit (or temporary residence permit) and other copies. ), driver's license, etc. For employees of state-owned enterprises, it is necessary to prepare copies of work permits, and for individual and private households, it is necessary to submit copies of tax registration certificates, business licenses and other relevant documents. And a guarantor with a local account.

Application method:

There are two ways to apply for mortgage to buy a car. One is to buy a car with personal credit mortgage (generally, you are required to have very good credit, no mortgage, no guarantee, stable work income and no bad hobbies). This form of car purchase can generally be loaned for 5 years. The other is to buy a car with real estate mortgage (with real estate license as mortgage). Generally, the mortgage loan for buying a car can last for up to 5 years. The down payment for both types of mortgages is above 30%. The interest rate is mainly determined according to your loan type and your personal qualifications.

Mortgage car purchase process:

1. The borrower applies to the loan bank for personal automobile mortgage;

2. Lead customers to choose cars at the bank's special dealers and sign car purchase agreements or contracts;

3. Sign the contract with the consent of the investigation;

4. Lenders (banks) handle loans;

5. Go through the formalities of notarization and mortgage of automobiles;

6. After the loan is paid off, the lender (bank) cancels the pledge certificate and returns it to the customer.