Is private car loan illegal?
Car loan is not illegal, but the loan interest rate should be within the scope permitted by law, otherwise it will not be protected. It is suggested to find a third-party guarantee institution to guarantee the mortgage car loan, and you can also go to the notary office for written notarization.
Requirements and materials for applying for car loan service for car mortgage:
1. With a stable occupation, Shen Zhi requires car owners to own vehicles with local mortgages.
2, living and working in the city for a long time, to carry out business occupation and economic income.
3, motor vehicle registration certificate, driving license, purchase tax certificate (this), car purchase invoice.
4. Insurance policy, travel tax, and relevant tax payment certificates for imported vehicles.
5. ID card (temporary residence permit or residence permit within the validity period provided by non-local account customers).
6. Other documents required by the Cooperation Organization.
Procedures for mortgaging vehicles
1, mortgage, that is, go to the vehicle management office to register the mortgage, and whether the full amount can also be found at the vehicle management office, so the first step is to go to the vehicle management office.
2. Notarization means going to the local notary office to do the corresponding notarization, which generally includes: loan notarization, entrusted mortgage cancellation notarization, entrusted sale notarization and compulsory execution notarization.
A full mortgage car needs to meet one of the following conditions.
1, the car was bought by one-time payment;
The car was bought by stages, and the money has been paid back.
It should be pointed out that the mortgage car means that consumers can pass the mortgage certificate, then go to the vehicle management office for mortgage procedures without taking the car, and then your car becomes a mortgage car.
In addition, if the mortgage contract signed privately is not registered in the vehicle management office, the mortgage right is invalid. You can buy a car, but you'd better ask for a transfer. You can set a time in the contract (for example, when his debt is due) and go through the transfer formalities at that time, but you can't go through the formalities all the time, but your auto insurance is not easy to handle, so what's the trouble in the future; Failure to pay compulsory insurance will be investigated and punished, and it will be troublesome to check the car.
Legal basis:
Article 225 of the Criminal Law of People's Republic of China (PRC), in violation of state regulations, commits one of the following illegal business operations, disrupting market order, and if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also, or shall only, be fined not less than one time but not more than five times the illegal income; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years, and shall also be fined not less than one time but not more than five times for illegal gains or confiscation of property:
(a) without permission, the franchise, monopoly of goods or other goods restricted by laws and administrative regulations;
(2) buying and selling import and export licenses, import and export certificates of origin and other business licenses or approval documents stipulated by laws and administrative regulations; (three) without the approval of the relevant competent departments of the state, illegally engaged in securities, futures, insurance business, or illegally engaged in fund payment and settlement business; (four) other illegal business activities that seriously disrupt the market order.