Legal analysis: not illegal.
Legal basis: People's Republic of China (PRC).
Article 394 Where the debtor or a third party mortgages the property to the creditor to guarantee the performance of the debt without transferring the property, and the debtor fails to perform the due debt or realize the mortgage right according to the agreement of the parties, the creditor has the right to be paid in priority for the property. The mortgagor and creditor specified in the preceding paragraph are mortgagees and provide guarantee.
Article 395 The debt property may be mortgaged: (1) (2) the right to use the construction land; (3) the right to use the sea area; (4) Production equipment, raw materials, semi-finished products and products; (5) Construction means of transport under construction; (seven) other property as prescribed by law. The mortgagor may
Article 400 To create a mortgage, the parties shall adopt a written mortgage contract, which generally includes the following terms: (1) Price; (2) The time limit for the debtor to perform the debt; (3) The name and quantity of the mortgaged property; (4) Scope of guarantee
Article 419 During the limitation of action for principal creditor's rights, the mortgagee shall exercise the right of mortgage. If it is not exercised, people will not be protected.
Second, is the automobile mortgage that can be seen everywhere legal?
Spread out completely
Hello, there is nothing illegal. If you don't repay your car loan within the time limit, there is a law that allows you to take your car away for auction.
3. Is the auto mortgage company legal?
At present, there are two kinds of companies handling automobile mortgage in the market, one is consumer finance companies such as banking system and Ping An, and the other is companies and auto financing leasing companies. These two platforms are loan channels licensed by national financial institutions and supervised by the State Financial Supervision Bureau. They are legal and compliant and can be handled with confidence on these platforms. When handling business in automobile mortgage, there is generally no problem as long as the qualification of the loan company is guaranteed, the company operates normally, the contract is standardized and the fees are transparent. At present, a licensed enterprise similar to Shanghai Anmeitu Automobile Finance Leasing Company in the automobile mortgage market has its unique advantages in the automobile industry, such as specialty, convenient operation and fast loan, and is favored by car owners who urgently need to use cars to solve problems. Need money badly? Find a safe way! You can get a loan if you have a car! Want to know more about car mortgage, it is recommended to consult Anmeitu car loan. Anmeitu is formal and reliable, with low threshold. If you have a car, you can borrow it. According to the different needs of consumers, tailor-made low-interest capital solutions. Professional one-on-one service, reasonable and transparent fees, clearly marked. Relieved and reliable, the mortgaged vehicle is stored in an all-weather safe closed room. You can do it without a car, and you can manage it if you get the money. Shanghai, Chengdu, Xi, Wuhan, Shenzhen, Chongqing, Beijing, Kunming, Guangzhou and Shihezi, Xinjiang all have offline direct stores.