Generally speaking, the period of vehicle mortgage is not too long, usually about five years, but if it is a house mortgage, the time will be longer. How long does it take for automobile mortgage Bank to apply for automobile mortgage? It usually takes 1-5 working days. If the automobile mortgage guarantee has no specific validity period, the principal creditor's right and mortgage right are valid. If the mortgagee fails to claim the mortgage right after the limitation of action for principal creditor's rights, the mortgage right shall be extinguished.

Moreover, the number of years of applying for a car mortgage is also related to the age of the car. If the car is older, not only will the amount of car mortgage you can apply for be lower, but also the period of car mortgage you can apply for will be shorter.

How to realize automobile mortgage:

(1) auction

Auction can make the price change of collateral open and fair, which not only ensures the realization of creditor's rights to the maximum extent, but also protects the interests of mortgagor. Therefore, auction is regarded as the most basic way to realize mortgage by legislation in various countries. Auction is divided into arbitrary auction and compulsory auction. The former is that the parties voluntarily entrust the auction, and the latter is that the mortgagee applies to the court for auction. With regard to the procedure and effectiveness of auction, the relevant provisions of the auction law and the civil procedure law should be specifically applied.

(2) Selling

Selling is a relatively simple way to exchange the price of the auction target, that is, the parties or the court directly sell the collateral at a fair and reasonable price, and the proceeds give priority to repaying the secured creditor's rights. However, it should be noted that in judicial practice, auction is generally the principle, and sale only exists in the form of exception.

(3) Discount

Discount refers to the debtor's failure to perform the debt at the expiration of the performance period, and the ownership of the mortgaged property is transferred from the mortgagor to the mortgagee through an agreement between the mortgagee and the mortgagor, or when the agreement fails, and the judgment is made by the people's court after trial, so as to realize the mortgage. In short, the ownership of the collateral is obtained by discounting the collateral in the form of agreement. Although this method is simple in procedure, it is not transparent enough, so there are many restrictions in legislation, the most important of which is the county's ban on "liquidity contracts".

Legal basis:

Article 394 of the Civil Code of People's Republic of China (PRC) provides a guarantee for debt performance. If the debtor or a third party mortgages the property to the creditor without transferring the possession of the property, the debtor fails to perform the due debt or the creditor has the right to receive priority compensation for the property. The debtor or the third party specified in the preceding paragraph is the mortgagor, the creditor is the mortgagee, and the property that provides guarantee is the mortgaged property.

Article 419 During the limitation of action for principal creditor's rights, the mortgagee shall exercise the right of mortgage. If it does not exercise, the people's court will not protect it.