Vehicle Mortgage Loan Agreement

Contract No.: _________________________
Place of Signing: ______________________
Date of Signing: ____ / ____ / ____

Article 1: Parties to the Agreement

Lender (Party A): ___________________________
Unified Social Credit Code / Business Registration No.: _______________________
Registered Address: __________________________________
Contact Information: ______________________________

Borrower (Party B): ___________________________
ID / Passport No.: _________________________
Contact Address: ________________________________
Contact Information: _____________________________

Article 2: Vehicle Information

  1. Vehicle Make & Model: _________________________
  2. Vehicle Identification Number (VIN): _________________________
  3. License Plate No.: _________________________
  4. Vehicle Registration Certificate No.: _________________________
  5. Mileage: ______ km
  6. Vehicle Condition & Accessories: _________________________
  7. Party B owns the vehicle and it is free from other mortgages, pledges, or disputes.

Article 3: Loan Amount and Interest Rate

  1. Loan Amount: RMB ______ (or USD ______)
  2. Interest Rate: ______% per year (Fixed / Floating)
  3. Loan Term: ______ years / months, from ____ / ____ / ____ to ____ / ____ / ____

Article 4: Loan Disbursement and Purpose

  1. Loan Disbursement: Party A shall transfer the loan amount directly to Party B’s designated account.
  2. Loan Purpose: Party B promises to use the loan for lawful purposes only and shall not divert it for other uses.
  3. Party B shall provide proof and relevant documentation of the loan usage.

Article 5: Mortgage Registration and Rights & Obligations

  1. Party B agrees to use the above vehicle as collateral and shall complete the mortgage registration with the relevant vehicle authority.
  2. During the mortgage period, Party B shall not transfer, lease, or re-mortgage the vehicle, nor change its use without Party A’s written consent.
  3. Mortgage registration and related fees shall be borne by Party B, with Party A assisting as necessary.
  4. Party B shall properly maintain the vehicle, ensure its safety, and maintain both compulsory traffic insurance and commercial insurance.

Article 6: Repayment Method

  1. Party B shall repay the loan principal and interest as follows: □ Equal Principal & Interest □ Equal Principal □ Lump-sum repayment □ Other: ______
  2. Repayment Date: the ______ day of each month (or as mutually agreed).
  3. Party B shall repay on time. Late payments will incur a penalty of ______% on the overdue amount.

Article 7: Early Repayment and Default

  1. Party B may repay the loan early but must notify Party A in advance. Party A is entitled to charge an early repayment fee of ______ (amount / percentage).
  2. If Party B delays repayment or violates mortgage terms, Party A is entitled to:
    1. Charge overdue penalty;
    2. Apply for judicial procedures to dispose of the collateral vehicle to recover the loan principal, interest, and related costs.
  3. In case of force majeure preventing timely repayment, both parties shall negotiate a revised repayment plan.

Article 8: Insurance and Maintenance

  1. During the loan period, Party B shall maintain compulsory traffic insurance and commercial insurance and provide Party A with the insurance policy and payment proof.
  2. In case of accident, damage, or loss during the mortgage period, Party B shall promptly inform Party A and repay the loan according to insurance compensation or the vehicle’s actual value.

Article 9: Dispute Resolution

  1. This Agreement shall be governed by the laws of the place of signing.
  2. Any disputes arising from the performance of this Agreement shall first be resolved through negotiation. If negotiation fails, either party may submit the dispute to the arbitration institution or the court at the place of signing.

Article 10: Miscellaneous

  1. Any matters not covered by this Agreement shall be handled in a written supplementary agreement, which shall have the same legal effect as this Agreement.
  2. This Agreement is executed in two counterparts, each party holding one copy, and shall become effective upon signing and stamping.
  3. Both electronic and paper signatures are valid.

Signatures

Lender (Party A): ___________________ (Seal)
Date: ____ / ____ / ____

Borrower (Party B): ___________________ (Signature)
Date: ____ / ____ / ____