The agreed annual interest rate above 36% (monthly interest rate above 3%) is not protected by law; If the annual interest rate is between 24% and 36%, the paid interest is not required to be returned, and the unpaid interest is not required to be paid;
If the interest rate agreed between the borrower and the borrower does not exceed the annual interest rate of 24%, and the lender requests the borrower to pay interest at the agreed interest rate, the people's court shall support it;
If the interest rate agreed between the borrower and the borrower exceeds the annual interest rate of 36%, the interest agreement in excess is invalid; The people's court shall support the borrower's request to the lender to return the part of the interest paid that exceeds 36% per annum.
What are the conditions for mortgage car loan?
1, at least 18 years old (generally not more than 60 years old), with full capacity for civil conduct.
2. Have a fixed residence in the local area and can provide valid proof of residence.
3. Personal credit is good, and there is no bad record or serious negative information in the credit report.
4 have a stable and legitimate source of economic income and the ability to repay the principal and interest of the loan on time.
Legal basis:
People's Republic of China (PRC) Civil Code
Article 394
In order to ensure the performance of the debt, if the debtor or a third party mortgages the property to the creditor without transferring the possession of the property, if the debtor fails to perform the due debt or realize the mortgage according to the agreement of the parties, the creditor has the right to be compensated in priority for the property. The debtor or the third party specified in the preceding paragraph is the mortgagor, the creditor is the mortgagee, and the property that provides guarantee is the mortgaged property.