What should I pay attention to in car mortgage?

What should I pay attention to in car mortgage?

Car mortgage should be noted that car mortgage loans can be used for decoration, travel and shopping, and can also be used as business loans for self-employed. Therefore, automobile mortgage is still versatile, with a relatively large amount and a relatively long loan period. Generally speaking, you can borrow 80% of the car evaluation price. You can borrow it for up to three years.

Whether it must be my own vehicle: friends who have no loan experience will think that they can only apply for a mortgage loan with my own vehicle. According to the regulations of the organization, you can use other people's cars, and most people will use their spouses, parents or other family members. If you really don't have a car in your name, you need the owner and the borrower to apply for a loan together.

Automobile mortgage needs to pay attention to the following common problems:

1, product organization

If it is a bank or other licensed large financial institution, you can basically handle it with confidence. As long as such institutions repay their loans on time, they will not deliberately make things difficult for borrowers in their products, and the products made by banks or licensed institutions are often more expensive.

2. Interest and interest rate

If the monthly interest rate is 1% or 10, this is very problematic. The more formal the product, the less likely it is to offer incredibly low interest rates. How can such a low interest rate be possible? There are more traps waiting for you behind low interest rates.

3. Abnormal charging behavior

Before signing a car loan contract, it is necessary to confirm whether there are behaviors such as charging in advance or charging high handling fees. Normal car loan products will not charge in advance, or charge a handling fee, because the car loan is definitely full and will not charge the borrower any fees in advance.

4. Are there any unreasonable terms or contracts between Yin and Yang?

Regular car loan products do not have these conditions, but some small loan companies will use such terms to let borrowers violate the terms without knowing it, and then tow them, charging high service fees and towing fees to achieve the purpose of obtaining benefits.

What should be paid attention to in automobile mortgage contract?

Procedures needing attention in automobile mortgage contract: 1. Know the current situation of the car. Before buying a mortgage car, the owner must carefully observe the condition of the car, compare the prices in many ways, and learn some second-hand car knowledge. If you have knowledgeable friends, you'd better ask them to choose together; 2. Car price positioning. When many car owners buy mortgage cars, they don't set the price and are often fooled by some illegal mortgage car dealers; Therefore, when buying a mortgage car, you must make your own economic plan in advance. How much to buy depends on your own economic ability. Never buy a car because of face, so you will not be able to afford it in the long run. Determine the positioning of buying your own mortgage car and choose the right mortgage car at this price; 4. Determine the price range of the mortgage car you want, so it will be easier to choose. When buying a mortgage car, the procedures for the vehicle should be complete, and the price and model of the vehicle should be compared. Don't start with mortgage dealers when you see that the car price is cheap. Maybe the next one of the same model will have a better price.

What are the precautions in automobile mortgage?

Among mortgage loans, the most common ones are real estate mortgage loans and automobile mortgage. What should I pay attention to when applying for a car mortgage? What are the precautions in automobile mortgage?

Matters needing attention in the contract

1. The mortgage loan contract shall indicate the name and quantity of the collateral, such as vehicle type, license plate number and engine number.

2. In the contract, it should be clear that the borrower is the legal owner of the vehicle. For example, "Party A guarantees that it is the legal owner of the mortgaged property, and if losses are caused to Party B due to the ownership of the mortgaged property in the future, Party A shall be responsible for compensation."

3. In the contract, the storage mode of the vehicle during the loan period shall be specified. Such as pledge or mortgage, whether the vehicle is kept by the borrower or the lender.

Loan amount: consider vehicle depreciation.

1. When the borrower mortgages the loan with the vehicle, the lender shall consider the current appraised price of the vehicle and its future depreciation. Usually, the loan amount is controlled within 60% to 70% of the vehicle evaluation price. And the loan period should not be too long.

2. When applying for automobile mortgage, it is very important to choose an institution in automobile mortgage. There are many automobile mortgage institutions in the market, and many quality guarantees are uneven.

You can choose to ride or not.

Because cars tend to depreciate, most banks have stopped doing business in automobile mortgage, and now non-bank financial institutions are generally doing business in automobile mortgage. Automobile mortgage, a non-bank financial institution, has two forms, one is to get a car, and the other is not to get a car. Escort means handing over the vehicle to the lending institution for safekeeping, with a parking lot dedicated to storing the vehicle, being watched by a special person 24 hours a day, and lighting the vehicle regularly for preheating. If you don't pick up the car, you need to install GPS on it, just put the formalities in the company, and the car is still for your own use, so you need to apply for mortgage registration.

Only applicable to short-term turnover

You can lend money in one day with a car mortgage, which is very fast. However, the term in automobile mortgage is generally short, which is only suitable for short term. If the loan period is too long, it is not recommended to apply for a car mortgage.

What are the precautions for vehicle mortgage loan?

1, most cars are mortgaged with a mortgage card instead of a car. That is to say, as long as you mortgage the relevant documents of your car to a lending institution, you can get a loan, and the car can be used as usual after installing GPS. Therefore, before making a mortgage, we must first understand whether the car mortgage has a mortgage, and try to avoid the institutions that want to mortgage the car; 2. automobile mortgage's funds are often used for short-term turnover. If long-term loans are needed, it is not applicable to borrow money with cars as collateral; 3. Because automobile mortgage often produces higher expenses, if you choose a vehicle mortgage loan with a long cycle, you can try to repay it in advance if there is prepayment.

What are the precautions for buying a car by mortgage?

Matters needing attention in buying a car by mortgage: 1, application conditions. The threshold of financial car loan is low, and many brands screen loan consumers relatively simply; 2. Loan amount. Credit card car loan has a small amount, and credit card car loan has more restrictions on loan amount; 3. Loan interest rate. Credit card car loans do not charge interest, but the two-year handling fee is not much less than the loan interest rate of ordinary banks; 4. Term of the loan. Financial and bank car loans have a long service life, up to 5 years; 5. Loan procedures. There are a lot of financial and bank car loan materials. With the continuous improvement of China's credit system, there will be more and more credit card car loan models.