Secondary loan process of mortgage car

The second loan, but meet the following conditions:

1. There is room for remortgage for the second mortgaged car.

2. The secondary mortgage procedures for automobiles should be complete.

3. The borrower has a legal and stable income source and repayment ability.

4. Other conditions required by the lending institution.

Article 36 of the Commercial Bank Law: The borrower shall provide guarantee for the loan of the commercial bank. Commercial banks should strictly examine the repayment ability of guarantors, the ownership and value of collateral, and the feasibility of realizing collateral. After examination and evaluation by a commercial bank, it is confirmed that the borrower has a good credit standing and can repay the loan, and no guarantee may be provided.

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Buying a car by mortgage means that the borrower who applies for buying a car pays part of the down payment in advance, and the lender lends the rest to the buyer in installments.

1. Original ID card, household registration book or other valid proof of residence, and provide a copy;

2. Proof of occupation and economic income;

3 car purchase agreement, contract or letter of intent signed with the dealer;

4. Other documents and materials required by the Cooperation Organization. After you have provided these mortgage procedures for buying a car, you need to meet some other conditions before you can apply for buying a car:

(1) Having valid identity documents and full capacity for civil conduct;

(2) Proof of fixed and detailed address can be provided;

(3) Having a stable occupation and the ability to repay the loan principal and interest on schedule;

(4) Personal social credit is good;

(5) Holding a car purchase contract or agreement approved by the lender;

(6) Other conditions stipulated by the Cooperation Organization.

Application method:

In order to increase car sales, the government and financial institutions jointly launched a personal loan car purchase business. At present, there are two main ways to buy a car with personal loans in the market finance industry:

1. is a real estate mortgage loan to buy a car (with real estate as collateral). Generally, a mortgage loan can buy a car for up to 5 years, with a down payment of more than 30%. The interest rate mainly depends on your loan type and personal qualifications.

2. Personal credit loan to buy a car (unsecured and unsecured, generally requires you to have good credit and stable work income). With this form of loan, you can buy a car for five years with a down payment of more than 30%.

How to get a second loan if you have a car?

The steps of the second car loan are as follows:

1. If the owner wants to mortgage the second car, he must first submit information to the bank and apply;

2. A professional appraisal institution evaluates the automobile and carries out secondary mortgage according to the appraised value of the automobile;

3. The bank reviews the secondary mortgage information and goes through relevant procedures;

4. After approval, notify the owner to handle the secondary mortgage registration procedures, and then the bank will issue loans to the owner.

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When applying for a second auto loan, the materials that the lender needs to prepare are divided into the following categories:

1. Personal identification: ID card, residence permit, household registration book, marriage certificate and other materials;

2. Provide proof of stable income sources: bank statements, labor contracts, etc. ;

3. Provide stable proof of address: such as housing lease contract, utilities, property management and other related certificates;

4. Other information required by the bank.

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How to get a second loan for a mortgage car? Everyone should understand the whole process of mortgage car loan.

Many people who have bought cars know that cars can be used as collateral for mortgage loans in addition to going out. But unlike real estate, a car can be mortgaged twice and a car can only be mortgaged once. It is not easy for a mortgage car to apply for a car loan. How to get a second loan for a mortgage car? Everyone should understand the whole process of mortgage car loan!

How to get a second loan for a mortgage car?

According to the regulations, the mortgaged vehicle cannot be mortgaged before the installment payment is paid off, because all the property rights of the mortgaged vehicle belong to the lending institution, and the owner only has the right to use it. However, because the mortgaged vehicle has not been repaid in installments, the property right has not yet been owned by the individual and cannot be mortgaged.

However, the loan regulations of different banks are different. Some loan companies (Yunxinyi Auto Loan) also support the second mortgage of the mortgage car, depending on the actual requirements of the car loan handling bank.

To submit a loan application, the borrower needs to bring his ID card, motor vehicle registration certificate, driving license and other materials to the bank to go through the loan formalities, fill in the loan application form and submit the prepared materials. Bank audit: after receiving the borrower's loan application and loan information, the bank will investigate and audit the personal information to ensure the authenticity of the information, and will contact the borrower for the next step after the approval.

After the vehicle evaluation and approval, there will be a professional appraiser to evaluate the mortgaged vehicle. Generally speaking, the loan amount will not exceed 70% of the assessed value of the car. Determine the loan amount. After the appraiser determines the car valuation, the bank will determine the loan amount according to a certain proportion of the valuation.

Sign a loan contract. After the borrower goes to the bank to handle the loan-related procedures, he signs a loan contract, which includes the loan amount, loan interest rate, loan term and other items. If it is notarized, the loan contract needs to be notarized after the loan procedures are completed. Take the certificate to go through the mortgage formalities. The bank will collect the motor vehicle registration certificate and go through the mortgage formalities. Finally, the bank will lend the money to the designated bank card within the specified time, usually about a week.

The above is the related content sharing of "How to get a second loan for a mortgage car", hoping to help everyone!

The introduction of the second loan process of mortgage car ends here.