What is mortgage to buy a car?

Buying a car by mortgage means that the borrower who applies for buying a car pays part of the down payment first, and the lender pays the rest to the buyer in installments. Buying a car by mortgage means that the borrower who applies for buying a car pays part of the down payment first, and the lender pays the rest to the buyer in installments. 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 for personal loans to buy a car in the market finance industry. 1. Use real estate as collateral to buy a car (use real estate as collateral). Generally, a mortgage loan can be used for a car for up to five years, with a down payment of more than 30%. The interest rate is mainly determined by your loan type and personal qualifications. 2. Buy a car with a personal credit loan (unsecured and unsecured, generally requiring you to have good credit and stable work income). This form of loan can generally be used for 5 years, with a down payment of more than 30%.