1, do loans must be collateral?
No, because now the car loan business is more competitive, so in order to simplify the procedures and speed up the release, many banks for less than 300,000 vehicles will not require collateral, direct lending, general auto finance \ finance leasing company may be the vehicle collateral.
2、 Will the mortgage affect the value of your vehicle?
The mortgage will not, the transfer will. Generally after a new car is licensed, the initial registration is completed, if you do the finance, lending institutions to prevent risk, will be mortgage grade, the subsequent registration certificate mailed to you. After the mortgage, so that there will only be a record in the registration column, you will have a record every time you draw out and draw in, the main follow-up of the other party to help you to do the registration of the release can be, will not have any impact on the value of the vehicle, can only prove that you then the vehicle mortgage to others.
3, after the mortgage, the car still belongs to their own?
As long as the name is your own name, the ownership of the vehicle in the police is identified as yours, but if your loan contract is overdue, the financial institutions have the right to sue you for the money owed on the vehicle to recover the vehicle will be auctioned off if necessary, so do not overdue, the loan vehicle still belongs to you, the mortgage is only the financial institutions in the occurrence of overdue is a way to lock the priority bond. Registered in your name, the car in your hands, legally speaking is your car, because the movable property is registered and delivered to define ownership.
4、 Is there anything I can't do during the mortgage period?
During the mortgage period, no transfer can be made, if you need to transfer, you need to release the mortgage before transferring, this is a means to prevent the financing vehicle from being transferred privately, to prevent the financing from being lost, or being bought and sold by a bona fide third party, nothing affects, no need to worry too much.
5. What is a mortgage?
It is your car (assets) as collateral, a way to refinance assets, common property mortgage, vehicle mortgage, etc.. Modern young people, or business people are always shy, in addition to online loans, you can also mortgage your vehicle, according to the current value of your car can be released to you a lump sum, so that you only need to pay the rent in installments, but usually the interest rate of this loan is relatively high, because after all, the vehicle depreciates quickly, the car is still in your hands to drive, the financial institutions more risky, so it will certainly be much more expensive. This is the same as cash loans, are expedient, generally urgent need of money only to do mortgage loans.
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