Bus mortgage loans

Bus mortgage loans with high return, low risk, short cycle, good economical benefit and social benefit characteristics, is that banks should vigorously expand the business. Marketing target customers can locate in good credit, have very stable cash inflow, purchase need fixed assets, but unwilling to lump all the funds will be invested in fixed assets in the enterprise legal person, the individual, the ideal customers such as engaged in passenger car transport company, engaged in passenger transportation enterprise etc..

[product]

Bus mortgage refers to the bank to buy bus borrowers of RMB loans in special dealers, from dealers provide a suretyship of joint and several liability, car manufacturers to provide repo collateral, which belongs to the type of data production of investment loans varieties.

[] the basic provisions

At present the bank usually only on the bus purchase designated brand to provide credit support.

Usually the maximum loan amount does not exceed the price of engineering machinery7A, mortgage loans for the longest period3Years, loan guarantees for the borrower purchased mortgage + bus manufacturer on mortgage loans sold by bus repurchase guarantee/Dealers to provide matching repurchase guarantee + manufacturers/Dealers to provide a certain proportion of margin.

[process]

1 by the head office of the lead, sponsor Bank (core firms to the local branch) approved repurchase guarantee amount for passenger car manufacturers, the head office of the cooperation agreement signed with each other always total passenger car financial services network, a clear bilateral cooperation, mode of operation and other matters, the manufacturers recommended list of dealers. The head office will notify the bank cooperation.

2 coordinators (dealers to the local branch) approved the guarantee amount to dealers, manufacturers and distributors in the lines, CO signed a cooperation agreement, the bus three. In the agreementSpecific business processes, margin, manufacturers buy back conditions, and declare: for bus borrowers Bank approved the future, manufacturers will provide repo collateral confirmation, and clearly the borrower in the contract agreement three party within the scope of security.

3 dealers to the bank recommended to buy bus customers. Provide relevant information to the bank, bank credit to the customer.

4Through  credit approval, the bank signed the loan contract with the customer, guarantee contract, mortgage contract, the customer will be a certain proportion of the first payment of provident bank.

5 dealers in the bank mortgage loans, the contract of sale the sale of merchandise invoices and the corresponding bus mortgage loan applications and irreversible repurchase guarantee letter of commitment to designate a person responsible for the service of the bank. The Distributor shall guarantee provided to Party BThree packs of cards manufacturers such as documents, and the uniqueness of the real effective.

If the borrower to buy the car as collateral, should be to the banks for the first beneficiaries of insurance for banks designated by the insurance to insurance companies, and will be handed to the bank to save original insurance policy. The period of insurance should be borrowing period is shorter than the loan contract. Dealers and the bank for the mortgage registration, at the same time, dealers and banks should have the loan contract, mortgage contract enforcement notarization. Party A shall handle the formalities should assist.

6After  to be dealt with the corresponding procedures according to the loan contract, bank loans to the borrower in the bank savings passbook or a card account, and payment debit authorization and appropriation authorization will be the first payment and loan directly into dealers in the bank open account according to the borrower's principal.

7The borrower repaid bank loan interest.

[time]

Usually the bus maximum loan period does not exceed3Years (including3Years), different brands of vehicle loans for different.

[interest rate]

Car loan interest rates stipulated by the people's Bank of China lending interest rate, as follows:

1 adopt floating rate, general loan period at3Years, in the benchmark interest rate adjustment in the next year, according to the corresponding grade of the implementation of the new loan interest rates.

2 take a fixed interest rate, to keep interest rates in the loan period unchanged, regardless of the basis of whether interest rate adjustment.

[risk]

1 bus repurchase guarantee (hereinafter referred to as repo collateral) when meet the buy back conditions, the bank issued a bus repurchase notification to manufacturers and overdue list, manufacturers should be in receipt of the above3Completion of collateral bus repurchase working days.

2 buy back conditions which borrowers in repayment period3Months failed to arrive on time, in full and the return of bank loans and/Or loan finally failed to return in full amount due interest bank loans, buy back conditions is established.

3 repurchase price is equal to the borrower's outstanding loans and related reasonable expenses. Repurchase behavior may involve mortgage bus transfer.