As a supplement to unsecured loans, automobile mortgage not only does not impose strict requirements on the personal qualifications of borrowers, but also determines the amount according to the assessed value of mortgaged vehicles, which is about 90% of the assessed value. In addition, if you have good personal qualifications and personal assets, the owner can also increase the credit line, and the maximum credit line can be 150% of the valuation of the mortgage car. The innovative form of vehicle mortgage loan does not stop there. In order to meet the diversified market demand, in addition to the traditional mortgage method, car owners can also choose the mortgage procedure without taking the car, which greatly increases the convenience of transportation. In addition, the speed of lending has become an advantage that cannot be concealed. As long as the procedures are complete and the vehicles meet the requirements, all institutions can quickly deliver the loan funds to the borrower's account, and the loan can be released on the same day at the earliest, and it only takes 2-3 working days at the latest.
Disadvantages:
Due to the depreciation and wear and tear of vehicles, most banks that operate steadily will stay away from automobile mortgage, which also explains why automobile mortgage has become the "exclusive product" of private institutions. Second-hand cars that turn a blind eye to personal qualifications and dare to accept the price to open the downward channel ... There must be high interest charges behind such bold actions by private institutions to support it until it reaches "money". In the face of higher fees, short-term capital turnover should undoubtedly be your response.