Guarantee period of automobile loan guarantor

The guarantee period of the car loan guarantor is six months from the expiration of the main debt performance period, as follows:

1. If the guarantor and the creditor of the general guarantee have not agreed on the guarantee period, the guarantee period shall be six months from the expiration of the performance period of the main debt;

2. If there is an agreement in the contract, it shall be implemented within the agreed time limit; There is no agreement, in accordance with the following provisions:

(1) If the guarantee period agreed in the guarantee contract is earlier than or equal to the performance period of the main debt, it shall be deemed that there is no agreement, and the guarantee period shall be six months from the expiration of the performance period of the main debt. If the guarantee contract stipulates that the guarantor shall bear the guarantee responsibility until the principal and interest of the main debt are paid off, it shall be regarded as outstanding, and the guarantee period shall be two years from the date of expiration of the main debt performance period;

(2) If there is no agreement or unclear agreement on the performance period of the main debt in the main contract, the guarantee period shall be counted from the date when the grace period for the creditor to require the debtor to perform its obligations expires.

The ways of auto loan guarantee are as follows:

1. The auto loan can be handled by the way that the insurance company provides performance guarantee insurance. If the borrower defaults, the insurance company will repay the corresponding loan through guarantee insurance;

2. Auto loans can be handled by professional guarantee companies to provide joint and several liability guarantees. The borrower can pay the guarantee company to guarantee, and can also handle successful auto loans at will;

3. Car loan can be provided by the borrower himself, mortgaged with his own house, or used for car loan;

4. Auto loans can be handled by the borrower with certificates of deposit in RMB or foreign currency, or treasury bonds and RMB wealth management products.

5. Car loan can be handled by the borrower by providing other guarantee methods recognized by banks or financial institutions, such as car dealers.

Legal basis:

Article 692 of the Civil Code of People's Republic of China (PRC)

The guarantee period is the period during which the guarantor undertakes the guarantee responsibility, and there is no suspension, interruption or extension.

The creditor and the guarantor may agree on a guarantee period, but if the agreed guarantee period expires before or at the same time as the performance period of the principal debt, it is deemed that there is no agreement; If there is no agreement or the agreement is unclear, the guarantee period shall be six months from the date of expiration of the main debt performance period.

Where the creditor and the debtor have not agreed or clearly agreed on the time limit for the performance of the principal debt, the guarantee period shall be counted from the date when the grace period for the creditor to request the debtor to perform the debt expires.

Article 3 of the Measures for the Administration of Automobile Loans

The term "lender" as mentioned in these Measures refers to commercial banks, rural cooperative banks, rural credit cooperatives and non-bank financial institutions established in People's Republic of China (PRC) according to law and approved by the China Banking Regulatory Commission and its dispatched offices to engage in RMB loan business.

Article 4

The term "self-use vehicles" as mentioned in these Measures refers to non-operating vehicles purchased by borrowers through auto loans; Commercial vehicles refer to for-profit vehicles purchased by borrowers through car loans; Used car refers to a car that has changed its ownership and gone through the transfer formalities according to law from the date of registration to the date of reaching the national compulsory scrapping standard; New energy vehicles refer to vehicles that use new power systems and are completely or mainly driven by new energy, including plug-in hybrid (including extended range) vehicles, pure electric vehicles and fuel cell vehicles.

Article 5

The auto loan interest rate shall be implemented in accordance with the loan interest rate regulations published by the People's Bank of China, and the method of interest calculation and settlement shall be determined by both borrowers and borrowers through consultation.

Article 6

The loan term of auto loan (including extension) shall not exceed 5 years, of which the loan term of used car loan (including extension) shall not exceed 3 years, and the loan term of dealer auto loan shall not exceed 1 year.