A car, the power tool of our lives, can it also become a vault when we need cash? Specifically, it is to mortgage your car to a financial institution in exchange for a suitable fund. Then let's see how we can increase the pass rate of your car mortgage。

How do we improve the success of auto mortgages

First, you have to pick a threshold and conditions for your lending institution. The thresholds and requirements vary from one lending institution to another, and if the threshold is low and the requirements loose, the loan is easier to issue; on the contrary, it is more difficult. You need to look at your actual conditions and choose a suitable institution for you。

Second, you have to meet the age requirement. This is because age and wealth, income, social experience are positive. The age requirement for general lending institutions is 18 to 55 years, as this group is more stable and less risky。

Third, you have to keep a good record of credit. A user with a good credit record shows that you're a man of trust, not vulnerable to default, so that the loan institution is more willing to work with you than to worry that you will not pay。

Again, you need a steady income. The more stable the income, the greater your solvency, the more credit institutions will reassure you。

Finally, your car must be in good shape. Lending institutions will require professionals to assess your car's condition. If it is in good condition, with low mileage, short age, unimpaired appearance, it will have higher market value and a relatively larger loan, with a higher probability of success。

What about the car mortgage process

1. To submit an application for a loan, you are required to submit a loan application and a series of personal documents such as a certificate of income, a certificate of work, a driver ' s licence, etc. to the loan institution。

The loan institution receives the loan application and checks the information you have submitted, and in case of omissions you need to be supplemented in a timely manner。

3. Loan institutions conduct on-site surveys and send a specialized evaluation body to assess the price of your car。

Determine the amount of the loan. The amount of the loan, the duration of the loan and the interest rate of the loan, etc., are determined on the basis of the assessed value, and the relevant registration procedures are completed。

V. Approval by the lending institution. Your qualifications are carefully analysed by the risk control department of the lending institution and, if eligible, the loan is granted。

Signing of loan contracts. (c) Signing of a car mortgage contract and related agreements with a lending institution, followed by a mortgage registration process。

VII. Lending. The loan institution transfers the loan amount to your account at the agreed time。