At present, with the rejuvenation of car buyers in the car market, instalments are gradually becoming mainstream. So what are the conditions for choosing a payment pattern when we buy a car? Let's see。
The following conditions are to be met for the instalments of the vehicles:
First, 18 years of age and under 60 years of age。
(ii) the ability to repay principal and a fixed source of income, while not exceeding 60 per cent of the total amount at the disposal of the household per month。
Thirdly, third-party natural persons guarantee the repayment of the principal interest on the loan (not to mention that mutual security is not allowed between spouses)。
Four. During the loan period, insurance companies recognized by the bank are required to be insured on a one-time basis against the motor vehicle consumption loan guarantee and continuously on motor vehicle insurance。
In the absence of a bad credit record, a customer who can provide a real estate or other property certificate will have a significantly higher approval rate。
Process relating to the purchase of vehicles in instalments
1. Determine the type of vehicle, order it。
The loan is preceded by a determination of the type and colour of the vehicle to be purchased, and a contract for the purchase of the vehicle is entered into after the concession, gift, etc. Has been negotiated。
2. Complete and submit the relevant application。
Fill out the relevant loan application forms and submit the required personal information to the bank for approval。
3. Pending approval from the bank。
The bank determines whether the loan is approved on the basis of the profession, qualifications and personal credit records of the loan applicant。
4. First payment
Once approved by the bank, we can make a down payment and then hand over the related down payment receipts to the bank, pending the loan。
5. Borrowing of vehicles
After the bank's release, we can get a normal ticket, buy insurance and finally lift the car。
V. Vehicular collateral for the purchase of vehicles in instalments。
But when we make a loan to buy a car, the loan bank demands a vehicular mortgage agreement. That is to say, we need to mortgage the vehicles to the bank in order to obtain a loan, and the ownership of the vehicles will be transferred from the bank only after we have also cleared the loans and cleared them。
Vehicle release procedure:
I. To contact the loan bank in a timely manner and to obtain a certificate of settlement of the loan, approximately 10 working days after the last car loan has been repaid. The bank's motor vehicle registration certificate and the purchase invoice were also recovered。
Secondly, take all the relevant materials and go to the local garages to understand the collateral. Once the formalities have been completed, the ownership of the vehicle will actually come back to us。
Related materials required for write-off。
Motor vehicle registration certificate
(b) the original motor vehicle mortgage register/collateral application form, stamped by the mortgagee
Identification of the owner of the motor vehicle and the mortgage holder and a copy thereof
Letters rogatory from mortgage holders with official seals。
