Generally, the car loan guarantor is jointly and severally liable for repayment, that is to say, if the borrower fails to repay the loan or fails to repay the loan on schedule, the guarantor, as the guarantor of the loan, should bear the corresponding repayment responsibility to help the borrower pay off the debt, but the specific responsibility shall be subject to the actual guarantee agreement. If the car loan borrower can't pay off the personal service and can't repay others' debts after enforcement, it will affect the economic strength of the guarantor. If the vehicle is overdue, it will also affect the guarantor's credit information.
legal ground
Article 391 of the Civil Code of People's Republic of China (PRC) Legal Consequences of Transferring the Debt without the Guarantor's consent If a third party provides a guarantee and the creditor allows the debtor to transfer all or part of the debt without his written consent, the guarantor will no longer bear the corresponding guarantee liability.
What conditions do car loan guarantors need to meet?
Usually, you don't need a guarantor to apply for a car loan, because a car loan is actually a mortgage loan, which is equivalent to taking the car you bought as collateral. Only after the borrower pays off the car loan can you fully own the property right of the car. Only when the applicant's personal qualification is not high, such as poor credit record and weak repayment ability, the bank can successfully obtain the loan by providing a car guarantor, otherwise the bank will not grant the loan. So, what conditions do car loan guarantors need to meet?
I. Conditions for the guarantor of auto loan:
1, except for the guarantee, did not participate in the whole process of car loan;
2. Have full capacity for civil conduct;
3. It has legal and stable income sources and assets, and has the ability to repay loans instead of borrowers;
4. Have a fixed residence in the local area, and have a local account or residence certificate;
5. Personal credit is good.
Second, the auto loan guarantor responsibility:
1, guarantee liability;
2. Joint and several liability. @20 19
Do you need a guarantor for a loan to buy a car?
No guarantor is needed.
The Measures for the Administration of Automobile Loans have corresponding provisions:
Article 9 A borrower applying for an individual car loan shall meet the following conditions:
(1) People's Republic of China (PRC) citizens, or Hong Kong, Macao and Taiwan residents and foreigners who have lived in People's Republic of China (PRC) for more than one year (including one year);
(2) Having a valid identity document, a fixed detailed address and full capacity for civil conduct;
(3) Personal legal assets with stable legal income or sufficient to repay the loan principal and interest;
(4) Personal credit is good;
(5) Being able to pay the prescribed down payment;
(6) Other conditions required by the lender.
Extended data
Relevant laws and regulations of the Measures for the Administration of Automobile Loans:
Article 17 The lender shall regularly check the dealer's credit by counting the inventory of vehicles and spare parts purchased by the dealer and analyzing the dealer's financial statements, and adjust the dealer's credit rating and inventory inspection frequency according to the review results.
Auto loans shall be issued according to the requirements of the maximum loan ratio, and the proportion of the amount of auto loans issued by the lender to the price of the car purchased by the borrower shall not exceed the requirements of the maximum loan ratio; The requirements for the maximum loan payment ratio shall be stipulated separately by the People's Bank of China and the China Banking Regulatory Commission according to the actual situation of macro-economy and industry development.
Twenty-eighth lenders should establish an early warning monitoring and analysis system for automobile loans and formulate early warning standards; After exceeding the early warning standard, measures such as reassessing the loan approval system should be taken.