Product definition

Commercial vehicle mortgage loan refers to the loan offered by the loan bank to the borrower who uses his legally self-owned commercial vehicle as security guarantees.

Application requirements

1. Franchised dealers authorized by automobile manufacturers or dealers having the same qualifications;

2. Having the qualifications of 4S shop (whole car sales, after service, parts supply, feed back information supply) or being up to the 4S shop standard;

3. The borrowers who have their self-owned permanent sites for business operation must have engaged in automobile sales for over 1 year; the borrowers who lease operating sites must have engaged in automobile sales for over 3 years;

4. With good credit status , without poor record and significant commercial disputes;

5. With steady market for products, strong marketing capacity and steady sales volume. Being sales agent recommended by the manufacturer.

Use of loan

Commercial vehicle mortgage loan is used mainly to provide the working capital needed by the borrower in operation.

loan amount

The loan amount shall be determined in consideration of the factors such as the busyness operation and fund demand of the client, but shall not exceed 60% of the factory price of the mortgage vehicle.

Mode of repayment

The mode of repayment can be: lump-sum repayment of principal at maturity with monthly interest settlement; average principal and interest (principal) ; or installment repayment, with monthly interest settlement.