Consequences of car loans overdue:

Because it is a car mortgage, I mortgaged the car to the loan company. Therefore, if the borrower fails to repay the loan, the lending institution can auction the borrower's car directly to repay the loan. Prior to this, the lending institution would ask the borrower to repay many times, and there would be certain interest charges during the repayment period, which was a relatively high penalty interest, and the repayment pressure of the borrower would increase during this period.

It's relatively easy to handle automobile mortgage through a loan company, but the borrower should never be lucky enough not to repay the loan. Lending companies have plenty of ways to keep themselves from "losing money". Therefore, we should do what we can to avoid the phenomenon of inability to repay.

Auto loan refers to the loan issued by the lender to the borrower who applies for buying a car, also called auto mortgage.

Loan description

First, the car purchase instructions

Previously, the automobile consumer credit business could not be widely carried out. Compared with ordinary automobile sales business, it is only suitable for a small number of people with credibility but lack of one-time payment ability. Therefore, organizers (dealers, banks, insurance departments) need to do detailed and comprehensive work, and provide consultants with "car purchase instructions" in the early stage of publicity.

The contents of this notice include: business overview, conditions and materials that car buyers should have, business operation process description and matters needing attention.

(for) consultation and publicity.

Automobile consumption credit car purchase instructions

The latest automobile consumption credit model introduced by XX Bank, XX enterprise and XX insurance company is close to people's lives, with simple and quick procedures and reasonable expenses, and all troubles are solved by us. Please read this book carefully before applying for a car. & lt description >>.

(1) car purchase method:

The customer pays not less than ×% of the car payment in advance, and applies to the bank for a special fund loan with the longest term not exceeding × years, and the dealer provides the loan guarantee.

(2) Conditions of the loan buyer:

1.Urban hukou and permanent hukou in XX District of XX City.

2.25 ~ 60 years old natural person.

3. Pledge, mortgage or third-party guarantee recognized by the lender can be provided.

4 have a stable occupation and income, and have the ability to repay the principal and interest of the car on schedule.

5. Willing to accept other conditions deemed necessary by the lender.

(three) the information that the loan buyer should provide:

1. My ID card. Household registration book 3. Driver's license 4. Housing 5. Two recent one-inch photos. Income and labor certificate. Parking permit.

Note: 1. The original and three sets of copies of the required information.

2.*** The same buyer and guarantor should also provide 1, 2, 4 and 6 in the information of the buyer.

(4) Operation process:

Go to various distribution points and consulting outlets for consultation.

Submit the information provided to the dealer for preliminary review.

Select a car model and sign a contract with the dealer & gt

The down payment is deposited in the designated account and submitted to the bank (application for automobile consumption loan).

News & gt stipulates that the loan principal and interest should be directly returned to the bank on schedule.

The dealer handles the vehicle entry formalities and delivers the vehicle.

Handle insurance, mortgage registration, notarization and other procedures.

The bank accepts, approves and signs the loan contract.

(5) Other matters:

1. Vehicle insurance must be handled by the designated insurance company. The types of insurance that must be insured include: car damage insurance, third party liability insurance, fund emergency rescue, deductible insurance and credit insurance or installment car purchase guarantee insurance.

2. The notarization fee shall be borne by the buyer and the seller in half.

3. Car buyers still need to pay the guarantee fee in one lump sum according to the loan term. The rate standard is based on the loan amount, one year 1%, two years 2% and three years 3%.

4. One-stop service is implemented, but all the expenses for handling the vehicle entrance are borne by the car buyers, and users still have to pay the agency service fee of RMB per car. < > users need to handle it themselves.

Reference link: auto loan _ Baidu Encyclopedia