The customer needs the materials of the vehicle that provides the mortgage loan.
The appraiser of the borrower shall comprehensively evaluate the mortgaged vehicle.
The borrower and the lender negotiate the value of the mortgaged vehicle.
After the borrower and the lender sign the vehicle mortgage contract, they shall be notarized at the same time.
The borrower and the lender shall go through the mortgage registration and relevant certification procedures at the vehicle management office.
The lender drives the vehicle to the parking lot designated by the borrower, gives all the car keys to the intermediary for safekeeping, and the borrower issues them, and repays the mortgage amount with the receipt.
After the mortgage expires, the lender and the borrower go through the formalities of repayment and mortgage cancellation, repay all the loans, cooperate with the borrower and the vehicle management office to go through the formalities of mortgage registration cancellation, and then get the car keys.
After the loan expires, if the customer fails to renew or cancel the loan at the intermediary office, the borrower will refuse to pledge according to the rules of vehicle mortgage loan.
Automobile mortgage is a loan obtained from a financial institution or an auto loan company with the car or self-purchased vehicle of the borrower or a third party as collateral. According to the purpose of loans with automobiles as collateral, it is mainly used for quick capital turnover.
It should be noted that cars depreciate rapidly, and traffic accidents have a high probability of affecting the value of vehicles. There are relatively few ways for financial institutions to issue loans with cars as a single mortgage, and the general loan evaluation price is 50-80%.
Generally speaking, domestic banks do not provide automobile mortgage services, so it is generally necessary to find private professional credit institutions to apply for such services. For example, automobile mortgage service is a short-term microfinance service for small enterprises, individual merchants and entrepreneurs.