1. Short-term commercial loans: within one year (including one year), the annual interest rate is 4.35%.
2. Medium-and long-term commercial loans: 1 to 5 years (including 5 years), with an annual interest rate of 4.75%; For more than 5 years, the annual interest rate is 4.9%. Matters needing attention in automobile mortgage:
1. automobile mortgage conditions
Basic conditions for borrowers:
1. China citizens who have reached the age of 18 and have full capacity for civil conduct and have a fixed residence in China.
2. Have stable professional and economic income, and can guarantee to repay the loan principal and interest on a regular basis.
3. guarantee can be provided.
4. Other conditions stipulated by the bank.
II. Information needed in automobile mortgage
1. Having a stable occupation, the applicant has the ownership of the local mortgaged vehicle.
2. Business to live and work in the city for a long time.
3. Motor vehicle registration certificate, driving license, purchase additional tax certificate (original) and car purchase invoice.
4. Insurance policy, vehicle and vessel tax, and relevant tax certificates for imported vehicles.
5. ID card (non-local account customers provide temporary residence permit or residence permit within the validity period.
I. Concept of mortgage loan interest rate
automobile mortgage refers to the loan varieties that borrowers use their own or third-party vehicles (including cars, SUVs, trucks, etc.) as collateral for personal comprehensive consumption and repay by mortgage. Automobile mortgage interest rate refers to the price paid by the borrower to the borrowed funds, and it is also the return obtained by the lender in lending to the borrower. The interest rate in automobile mortgage is usually calculated as a percentage of one-year interest and principal.
Second, the way to automobile mortgage
At present, we can mainly handle real estate mortgage loans through banks, trusts, pawns.
III. Interest rates from different automobile mortgage channels
(1) Bank loans
Borrowers apply for mortgage loans in banks with their purchased cars as collateral or pledge, and banks must issue automobile sales contracts, automobile mortgage agreements, I automobile mortgage loan contracts, etc. The annual interest rate starts at 6%.
(2) Trust loan
Trust automobile mortgage means that the trustee accepts the entrustment of the principal, and distributes the funds deposited by the principal according to the object, purpose, term, interest rate and amount specified by the trustee (or in the trust plan), and the financier takes the automobile mortgage as the guarantee method of the trust loan. The interest rate plus fees is generally around 18%.
(3) Pawning loan
Pawning mortgage loan refers to the act that the pawnbroker mortgages his car to a pawnshop, pays a certain percentage of fees and interests, obtains pawnbroker's money, and pays the pawnbroker's interest, fees, repays pawnbroker's money and redeems pawnbroker's goods within the agreed time limit. The combined interest and other comprehensive expenses is about 3% per month.