1. What is automobile consumer credit?

Answer: It is a RMB guaranteed loan issued to borrowers who apply to purchase cars; it is a one-time payment of car payment by banks and car sellers to car buyers. The required funds are provided to provide guaranteed loans, and joint insurance and notary agencies are provided to provide insurance and notarization for car buyers.

2. What is ***same car purchaser? What responsibilities does ***same car purchaser bear?

Answer: ***same car purchaser refers to a spouse relationship with the car purchaser. Or a natural person with an immediate relative relationship who is willing to jointly bear risk responsibilities in the car purchaser's consumer credit car purchase activities, to jointly recognize the terms of the contract, and to pay the arrears together. When a car buyer encounters a problem and is unable to repay the car payment, he has an unshirkable responsibility to repay the outstanding debt.

3. What should I do if there is a quality problem with the vehicle while the payment is not paid in full?

Answer: If there is a quality problem with the vehicle, the user must go to the manufacturer's authorized maintenance service center to negotiate. During this period, users may not use this as an excuse to stop or postpone the payment of the money repayable in each period and other fees owed.

4. Is it possible to pick up the car on the spot when purchasing a car by installment?

Answer: When purchasing a car by installment, dealers and banks need to go through a credit investigation process. Therefore, it is generally not possible to pick up the car on the spot. Furthermore, cars are different from other commodities in that they still need to go through insurance, certificate and vehicle inspection and registration procedures, which are relatively complicated and generally take 7 working days to complete after the application is submitted.

5. What calculation method is used for consumer credit?

Answer: The method of equal monthly repayment of principal and interest is adopted. The calculation formula is: Monthly repayment = loan principal × month Interest rate + loan principal × monthly interest rate / ((1 + monthly interest rate) ↑ total number of repayment periods - 1)

6. What is a guaranteed loan and what are the guarantor’s responsibilities

Answer: A guaranteed loan refers to a loan issued by a third party in accordance with the guarantee method stipulated in the "Guarantee Law" and a third party promises to assume joint and several liability according to regulations when the borrower cannot repay the principal and interest of the loan. The loan guarantee provided by the guarantor for the loan is an irrevocable full joint liability guarantee, which refers to the loan principal and interest stipulated in the loan contract and the related expenses incurred by the loan contract. The guarantor must also bear all joint and several civil liabilities arising from the contract.