Matters needing attention in automobile mortgage:
One: the car mortgage can't be handled in the bank.
Because of the large loss and rapid depreciation of automobiles, banks refused to accept automobile mortgage in order to control credit risk, so borrowers who need to apply for such loans have to find local formal non-bank financial institutions to do it.
Two: automobile mortgage can replace automobile pledge with certificate.
The car is a symbol of the owner's identity, and it also brings a lot of convenience to travel. Therefore, some borrowers are reluctant to take the car when applying for a loan. In order to satisfy their wishes, many lending institutions have introduced loans that do not take cars, but they need to install GPS in cars.
Three: automobile mortgage is only suitable for short-term capital turnover.
Automobile mortgage usually lasts for three years, which is not suitable for long-term capital turnover. If the borrower needs a long turnaround time, he should consider other loan projects, such as housing mortgage loans.
Four: automobile mortgage should choose suitable lending institutions.
When handling automobile mortgage, borrowers should choose matching lending institutions according to their own actual conditions, and at the same time pay attention to the formality of the selected lending institutions. If the other party asks for payment before lending, be careful, because this is a trick of a liar.