A bank loan to buy a car requires a certain mortgage, but the specific situation depends on which bank you choose. However, the cars currently purchased are mainly used as collateral, and the bank keeps documents such as auto insurance policies and car purchase invoices during the loan period.

Pay attention to the following questions when buying a car with a loan.

Hidden costs need to be known in advance: generally, this situation is easy to happen in secondary dealers. In fact, as long as consumers book a car, they should ask whether there are other hidden costs, such as new car inspection fees, delivery fees, etc., and also pay attention to whether the loan contract is provided by the bank, which is troublesome when using the hands-free car.

2. Car insurance by installment: If consumers choose to buy a car by installment with a credit card, the general car dealers will ask the designated insurance company to handle the car insurance for a specified period, and consumers should pay attention to whether the car insurance price is acceptable.

Extended data:

What is a mortgage loan and what property can be mortgaged?

Mortgage loan, also known as "mortgage loan". Refers to a loan method adopted by some national banks. The borrower is required to provide a certain amount of collateral as loan guarantee to ensure the repayment of the loan at maturity. Collateral is generally easy to preserve, wear and tear and sell, such as securities, bills, stocks, real estate and so on. After the loan expires, if the borrower fails to repay the loan on time, the bank has the right to auction the collateral and repay the loan with the proceeds from the auction. The balance of the auction money after paying off the loan shall be returned to the borrower. If the auction money is not enough to pay off the loan, the borrower will continue to pay off.

A loan issued by a mortgage lender with the property of the borrower or a third party as collateral according to the mortgage method stipulated in the Guarantee Law. Property that can be used as collateral includes:

1, the mortgagor has the right to independently control the real estate and other fixtures on the land.

2. The right to use state-owned land obtained by the mortgagor according to law.

3. Other properties recognized by the lender.

References:

Baidu encyclopedia-mortgage loan