Will Yixin Auto Pledge Loan Repossess the Vehicle?
1 Answers
Yixin Auto Pledge Loan will repossess the vehicle if the payment is overdue. Below is relevant information about auto loans: 1. Introduction: Auto consumer loans are a new type of RMB guaranteed loan issued by banks to car buyers who purchase vehicles from their authorized dealers. 2. Loan channels: 4S stores (no service fees at state-owned stores); bank credit loans (high threshold); financial companies (high loan processing fees); bank consumer credit (requires property mortgage). 3. Auto loan requirements: Valid ID and full civil capacity; ability to provide fixed and detailed address proof; stable income and capacity to repay principal with interest on schedule; good personal credit history; holding a car purchase contract or agreement approved by the lender; other conditions stipulated by cooperative institutions.