1. Under normal circumstances, after paying off the car loan, the lender shall timely return the deposit when the borrower borrows the car according to the relevant contract. In fact, it is unreasonable to pay the renewal deposit for car purchase by stages, and both parties can implement it through consultation.
2. When signing a car loan contract, consumers must clearly understand the relevant contents of the "deposit" and consult clearly about the renewal of the deposit. Whether the deposit paid by the consumer belongs to the late renewal deposit, if the insurance is not paid at the place designated by the lender, the deposit cannot be returned after paying off the loan, which requires the consumer to know in detail.
Second, the renewal deposit, literally, is generally encountered when buying a car to buy insurance. You can understand it this way. You want to continue to insure when the insurance expires, so you continue to insure. The renewal deposit is the deposit paid before you renew your insurance, to prevent you from paying the arrears when it expires, and to make preparations in advance.
Third, it should be noted that under normal circumstances, insurance companies often use banks or guarantee companies as "risk intermediaries" in order to reduce their own risks. Banks and insurance companies have signed an agreement. Car owners can complain to the industrial and commercial departments when they see this phenomenon. Extended information deposit is also called deposit and mortgage risk in practice. It means that the parties agree that the debtor or the third party will pay a certain amount to the creditor as a guarantee for its performance of the debt, and the deposit will be returned or deducted when the debt is performed; When the debt is not performed, the creditor can be paid in priority. The person who pays the deposit is called the grantor, usually the debtor or a third party. The person who receives the deposit is called the mortgagee, and he is a creditor. Once the debtor pays the deposit, the deposit contract is established and takes effect, which has the expected legal effect on both parties.