How long does it take to buy a car with a loan? How long does it take?

Buying a car with a loan can usually be done in half a month.

After approval, the customer still needs to go to the bank (auto consumer finance company) business outlet within the agreed time to sign a loan contract, handle mortgage and other related procedures, and then enter the loan process. From car loan approval to disbursement, it usually takes three to seven working days.

If the car loan approval result is not received for a long time or the loan is delayed after the car loan is approved, the customer can take the initiative to call the handling bank (auto consumer finance company) to consult customer service.

Loan car purchase process

1. First find a financial institution willing to provide loans. Many brands of cars have their own financial companies. If there is no dealer, they will recommend it.

2. Find the financial institution that provides the payment, and then prepare the financial proof materials including: real estate certificate, employment certificate, social security certificate, household registration book, ID card, personal credit certificate issued by the People's Bank of China, the bank's latest Three months of personal account turnover.

3. The entire loan approval process takes about 15 working days. Some vehicles require a partial down payment, so you need to prepare some cash.

Nowadays, vehicle prices are relatively cheap, and many people are not under great pressure to obtain loans to buy cars, so the application is very common and the time required is relatively short. However, those who are not sure should read the content of this article carefully to gain a clearer understanding. If you have other questions, please feel free to consult a professional lawyer. How long does it take to buy a car with a loan?

It usually takes about half a month to buy a car with a loan.

Loan purchase process:

1. Find a financial institution willing to provide a loan. Many brands of cars, such as Volkswagen, Nissan, have their own finance companies, which dealers will recommend if not available.

2. Find a financial institution that provides loans and prepare financial supporting materials, including: property certificate, work permit, social security certificate, account books, ID card, and bank personal account statements in the past three months.

3. The entire loan approval process takes approximately 15 working days. Some vehicles require a partial down payment, so we need to prepare some cash.

Extended information:

A simple and popular understanding of a loan is borrowing money that requires interest.

Loan is a form of credit activity in which banks or other financial institutions lend monetary funds according to certain interest rates and must be returned. Loans in a broad sense refer to the general term for lending funds such as loans, discounts, and overdrafts. Banks invest their concentrated currency and monetary funds through loans, which can meet the society's need for supplementary funds to expand reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation. How long does it usually take for a car loan to be approved?

Car loans usually take about 7 working days to be approved. If you choose manufacturer finance when purchasing a car, the review will be faster and can usually be completed on the same day.

Car loans are generally easier to pass than other loans because the loan amount of a car loan is relatively lower than other loans (housing loans). As long as people with a regular job and income can generally afford it, Unless you are too willful when choosing a vehicle and exceed your own affordability.

However, the review speed will also be affected by many factors. For example, if the information you provide is incorrect, it will delay a lot of time. Secondly, during the initial review stage, the bank will call you for a return visit for the car loan. The occurrence of errors will also affect the speed of approval and even the results of the review.

If the car loan bank does not approve it, it may be due to several reasons.

1. The loan amount is too large and the bank thinks you are unable to repay it.

2. Bad credit report. If you have had a credit card overdue within 5 years and defaulted on repayments more than twice, the bank will have a high chance of rejecting your loan.

3. The spouse’s credit report is poor. The credit report of the spouse of a married person is also one of the factors considered by the bank.

4. The amount of arrears is too much. If the amount of arrears is too much, the bank may reject your loan. Even if it is not rejected, the loan amount may be reduced.

5. The monthly repayment amount accounts for more than 50% of your monthly income.

When we buy a car, we should first understand the relevant car loan policies in advance. In the unfortunate event that the car loan is not approved, you should reflect on the possible problems that may arise. If you can't get a bank loan, you can also choose car dealer finance or a car loan company. Car loan companies have more flexible repayment mechanisms than banks, but the rates will also increase accordingly.

Supplementary knowledge related to loan car purchase:

1. Process of loan car purchase:

1. The borrower submits loan application materials to the bank;

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2. The bank conducts a preliminary review of the application materials submitted by the borrower;

3. The bank conducts a credit investigation and customer evaluation of the borrower;

4. After preliminary review and credit investigation, loan applications that meet the loan conditions will be reviewed and approved;

5. If approved, the borrower will be notified to go through relevant procedures such as contract signing, loan, mortgage or pledge; if not approved, the borrower must The borrower shall explain;

6. After the loan contract takes effect, the handling bank will issue the loan. A special lending method is adopted, that is, according to the loan contract, the handling bank directly transfers the loan to the account of the dealer where the borrower purchases the car.

2. The basic conditions for applying for a car mortgage loan are as follows:

1. A citizen who is over 18 years old and has full capacity for civil conduct.

2. Have legal identity documents, local permanent residence or valid residence certificate.

3. The individual receiving the loan must have stable career and economic income or assets that are easily liquidated, sufficient to repay the principal and interest of the loan on schedule.

4. The lender’s own funds are sufficient to pay the down payment for car purchase stipulated by China Construction Bank.

5. The lender must provide a guarantee recognized by the bank.

6. The lender is willing to accept other conditions that the bank deems necessary. How long does it take for a car loan to be approved

It usually takes 1-3 days to be approved. Bank car loan application process: 1. Fill in the "Bank Car Loan Application Form" and provide relevant documentation, bank credit investigation and qualifications Review; 2. Notify the lender to sign the loan contract, mortgage contract, guarantee contract, mortgage registration and insurance and other related procedures; 3. Grant the loan, the lender pays the down payment to the car dealer, and goes through the car pick-up procedures with bank documents.