According to the official inquiry, Mianyang's auto mortgage interest rate is 4.85%. And it is gradually rising.

Article 22 of the Regulations on Motor Vehicle Registration clearly stipulates that "if a motor vehicle owner mortgages a motor vehicle, he shall apply to the vehicle management office at the place of registration for mortgage registration. Fill in the "Application Form for Motor Vehicle Mortgage or Cancellation of Mortgage Registration" with the motor vehicle registration certificate and the identity certificate of the mortgagee and mortgagor, and affix the official seal of the unit to the relevant window for handling.