Vehicles can be directly used to apply for mortgage loans. Essentially, car loans are also a type of mortgage loan, but now they are all in the form of a pledge without a pledge of the car. During the loan period, the user can still use the vehicle normally. . So what is the process of vehicle mortgage loan?

What is the process of vehicle mortgage loan?

1. Provide a loan application to the lending institution and submit the corresponding qualifications;

2. The lending institution conducts home visits and surveys on the applicant and estimates the vehicle value and repayment ability;

3. The lending institution initially sets the loan limit;

4. Handle entrusted notarization and loan notarization;

5. The lending institution temporarily detains the applicant’s driving license, insurance policy and other documents;

6. Go to the vehicle management office to handle mortgage registration procedures ;

7. Bank lending.

What are the advantages?

1. Quickly obtain capital turnover, and the car does not need to be sold, so that it will take a lot of time and cost to buy a new car when the capital turns over;

2. Eliminate the embarrassment of borrowing money from relatives and friends;

3. No local household registration is required, as long as the car is your own, you can get a mortgage loan;

4. No need If you make a long-term reservation, you can get a loan as long as it is a regular and legal vehicle. No deposit is required in the initial stage, as long as it is a legal and qualified vehicle, and no fake cars, assembled cars, etc. are allowed;

5. When the funds are withdrawn, you can Pay off the loan immediately and pick up the car, no penalty required.

The above is an introduction to the process of mortgage car loan. I hope it can be helpful.