Where Is the Other Key for a Financed Car?
1 Answers
For a financed car, the vehicle certificate and one of the keys are usually mortgaged with the bank. You can retrieve the other key once you obtain the vehicle certificate. Only the vehicle registration certificate is mortgaged with the bank for a financed car. Financing a Car Purchase: A financed car refers to purchasing a car through a loan. It is a type of RMB guaranteed loan provided by banks to customers who buy cars from designated authorized dealers. The borrower applies for the car purchase by paying a portion as a down payment, and the remaining amount is disbursed in installments by the lender (bank) to the borrower. Financing a Car Purchase Application Requirements: The main application requirements for financing a car purchase include having a valid ID and full legal capacity, a stable job and the ability to repay the loan on schedule, as well as good personal social credit, among others.