The used car of Pacific Auto Network is mortgaged in the bank by stages. When banks handle credit card installment business, most of them require borrowers to sign relevant mortgage contracts with banks to mortgage the purchased vehicles to the banks. In this way, banks aim to control risks and prevent borrowers from being unable to repay.

After the borrower pays off all the loans, he can go through the formalities of cancellation of vehicle mortgage registration. In particular, banks need a certain amount of mortgage to buy a car loan, but the specific situation of each bank is different, depending on which bank to choose. However, at present, the purchased car is mainly used as collateral, and the bank keeps auto insurance policies, car purchase invoices and other documents and vehicle registration certificates during the loan period. Different banks have different requirements, and some require real estate licenses as collateral, but generally the vehicle registration certificate is the main one. Extended data:

Loan to buy a car requires not only real estate mortgage, but also a guarantor to guarantee it, so as to get a loan through the bank. Moreover, the loan to buy a car as a guarantee is flexible and diverse. There are mainly the following aspects, focusing on the local.

1. The spouse of the car buyer must go through the car purchase formalities as a co-buyer;

2. The purchased vehicle shall be used as collateral;

3. If necessary, the customer may be required to provide real estate license or other valid certificates and securities as collateral;

4. The natural person or legal person recognized by the distributor shall be the guarantor.

Loan conditions of mortgage loan: legal status; Have a stable economic income, have the ability to repay the loan principal and interest, and have no bad credit record; There is a legal and effective purchase contract; If the newly purchased house is used as the maximum mortgage, it must have a legal and effective purchase contract, the age of the house is within 10 years, and the down payment of not less than 30% of the total price of the purchased house has been prepared or paid; If the mortgage loan has been purchased, the original mortgage loan has been repaid for more than one year, the loan balance is less than 60% of the value of the mortgaged house, and the mortgaged house has obtained the property ownership certificate, and the age of the house is within 10 year; Being able to provide effective guarantee recognized by the loan bank; Other conditions stipulated by the lending bank.

(Photo/Text/Photo: Pacific Auto Network Q&A called Beast)