What does automobile mortgage need?

Automobile mortgage refers to the mortgage of car ownership to financial institutions in order to obtain a certain amount of loans. Lenders need to meet the following conditions to apply for automobile mortgage:

1. Vehicle ownership: the lender must be the legal owner of the vehicle, and the vehicle should be in a debt-free state, that is, there is no mortgage and no debt from other financial institutions.

2. Vehicle guarantee value: Financial institutions usually require that the loan amount should not exceed a certain proportion of the vehicle valuation, generally between 50% and 70% of the vehicle market value. Therefore, lenders need to own valuable vehicles as collateral.

3. Credit qualification: In addition to vehicle mortgage, financial institutions will also evaluate the credit status of lenders, including past repayment records, personal credit reports and income certificates. A good credit record helps to obtain more favorable interest rates and conditions.

4. Repayment ability: Lenders need to prove that they have a stable source of income and can repay the loan principal and interest on time. Usually, financial proof materials such as payroll and tax bill are needed.

5. Purpose of loan: The lender needs to specify the purpose of automobile mortgage, such as personal consumption and capital turnover. Some financial institutions may have certain restrictions on the use of loans.

On the basis of understanding these situations, lenders can inquire about their credit qualifications and big data by docking third-party big data risk control platforms, such as Zhiyi Big Data and Sesame Credit, so as to deepen their understanding of their credit status. At the same time, pay attention to maintaining your online loan credit and avoid overdue or unpaid debts, so as not to affect the opportunity to apply for online loan products again in the future.