Usually, when the borrower has insufficient repayment ability, or has a non-local account, or has no real estate in the local area, the bank may ask the borrower to increase the loan guarantee. Dealers or banks sometimes recommend guarantee companies to borrowers. Guarantee companies usually do not require borrowers to provide counter-guarantees.
Therefore, in order to reduce the guarantee risk, the guarantee company will require the borrower to pay the deposit. The borrower needs to read the contract signed with the guarantee company carefully, and the contract will have detailed provisions on the repayment of the deposit.
When handling auto loan business, some 4S stores will require borrowers to purchase insurance from designated insurance companies to ensure customers' repayment on time, and at the same time, they will also require borrowers to pay a certain deposit.
There are two kinds of deposits:
One is to renew the deposit, which requires 2000 yuan. As long as the customer still buys full insurance in the car company in the second year, he can refund the renewal deposit of 2000 yuan.
The other is to guarantee insurance. The collection of guarantee insurance is related to the price of the car purchased by the customer and the loan amount. The more expensive the car, the higher the guarantee insurance the customer needs to pay. If the customer can repay the loan in advance, a part of the insurance premium will be refunded accordingly. If the customer repays the loan within the stipulated time limit, there will be little insurance money left.
Extended data:
Loan to buy a car must meet the following conditions:
(1) The car buyer must be at least 18 years old and a citizen of China with full civil capacity.
(2) Car buyers must have a relatively stable job, a relatively stable economic income or assets that can be easily realized, in order to repay the loan principal and interest on schedule. Assets that are easy to realize here generally refer to securities and gold and silver products.
(3) During the loan application period, the car buyer shall deposit no less than the down payment stipulated by the bank in the account of the bank savings counter.
(4) Providing banks with bank-approved guarantees. If the personal account of the car buyer is not local, it should also provide joint liability guarantee, and the bank will not accept the mortgage set by the car buyer for the car purchased by the loan.
(5) Car buyers are willing to accept other conditions deemed necessary by the bank.
Baidu encyclopedia-loan to buy a car