Four Common Sense of Auto Finance Loan
Common sense 1: What is automobile consumption credit?
Automobile consumption credit, also known as automobile mortgage, is the behavior that a car buyer, as an applicant, puts forward RMB-guaranteed loans to lenders (banks, auto financing companies, etc.). ).
That is, to issue RMB-guaranteed loans to borrowers who apply for car purchase; It is banks and car dealers that provide guaranteed loans for the funds needed for car buyers to pay the car payment in one lump sum, and jointly provide insurance and notarization for car buyers with insurance and notarization institutions.
Common sense 2: can you pick up the car on the spot by choosing the way of buying a car by installment?
Many consumers think that buying a car by installment with a bank credit card is like buying something in a shopping mall. You can take things away when you swipe your card, but it's different when you buy a car.
Because cars need to go through insurance, licensing, certification and other procedures before they can go on the road, banks and car dealers also need a credit reporting process, so it takes 7 working days to complete the car purchase by stages.
Common sense 3: What is a second-hand car loan?
Second-hand car loan is a financial service specifically for second-hand car projects. Second-hand car loans are more rigorous than new car loans, so many consumers will choose guarantee companies or auto financing companies to complete second-hand car loan projects.
Common sense 4: Can a legal person apply for a car loan?
Generally, the object of auto loan is to buy a car by individuals, but some auto finance services are also aimed at corporate auto loans. However, corporate car loans need to provide more proof materials than individual car loans.
Six legal knowledge of auto financing loan
1. What is a * * * car buyer? * * * What is the responsibility of the same car buyer?
* * * The same car buyer refers to a natural person who has a spouse relationship or lineal relatives with the car buyer, is willing to * * * share the risk responsibility, * * * agrees to the terms of the contract, and * * * pays the arrears of the car buyer in car purchase activities. When the car buyer has problems and can't repay the car money, he has an unshirkable responsibility to pay the arrears.
2. What should I do if the vehicle has quality problems during the unpaid period?
If there is a quality problem with the vehicle, the user will go to the manufacturer's special maintenance service center for negotiation. During this period, the user shall not use this as an excuse to stop or delay the payment of each installment and other fees owed.
3. Can I pick up my car on the spot when I buy it by installment?
To buy a car by stages, dealers and banks need to have a credit process, and generally can't mention the country on the spot. Moreover, unlike other commodities, cars also need to go through insurance, license issuance, vehicle inspection, license registration and other procedures, which are quite complicated and generally take 7 working days to complete.
4. What is the calculation method of consumer credit?
The monthly repayment method of equal principal and interest is adopted, and the calculation formula is:
Monthly repayment amount = loan principal × monthly interest rate+loan principal × monthly interest rate /(( 1+ monthly interest rate) = total repayment period-1)
5. What is a secured loan and what is the responsibility of the guarantor?
Guaranteed loan refers to the loan issued by a third party in the form of guarantee as stipulated in the Guarantee Law, and the borrower promises to bear joint and several liabilities in accordance with the provisions when the borrower cannot repay the principal and interest of the loan. The loan guarantee provided by the guarantor for the loan is an irrevocable full joint liability guarantee, that is, the loan principal and interest agreed in the loan contract and the related expenses caused by the loan contract. The guarantor must also bear all joint and several civil liabilities arising from the contract.
6. What is a secured loan and what is the responsibility of the guarantor?
Guaranteed loan refers to the loan issued by a third party in the form of guarantee as stipulated in the Guarantee Law, and the borrower promises to bear joint and several liabilities in accordance with the provisions when the borrower cannot repay the principal and interest of the loan.
The loan guarantee provided by the guarantor for the loan is an irrevocable full joint liability guarantee, that is, the loan principal and interest agreed in the loan contract and the related expenses caused by the loan contract. The guarantor must also bear all joint and several civil liabilities arising from the contract.