How long does it usually take to approve a car loan?

How long the car loan can be approved depends on the lending institution, and different lending institutions have different loan interest rates. Car loan approval usually takes about a week. There are mainly the following two kinds of loans:

(1) The loan standards of auto financing companies are relatively loose, and the loan procedures should be simple. The whole process only takes two or three days, and the customer can get the car without paying the handling fee and mortgage fee, which is convenient and fast. The higher the credibility, the smoother the loan.

(2) The review procedure of bank car loan is relatively complicated, which usually takes five working days or a week, and the requirements for the lender's occupation, income and credit are relatively high.

Lending process after approval of auto loan application:

(1) Pay the down payment at the 4S shop first (this is the first step for you to prove the payment credit to the bank).

(2) You will receive a credit card from the bank in a few days.

(3) After waiting for a week or so, the bank sends a text message to inform you that the loan has been credited to your account. Then you take this card and pay by credit card in 4S shop. The money is directly remitted by the bank to the 4S store and cannot be consumed or withdrawn elsewhere.

(4) The 4S store withdrew the money, plus the down payment you paid before, so the 4 S store received the full amount. In theory, you can pick up the car (of course, it is best to decide to wait for a good card before picking up the car). (5) What remains is your loan relationship with the bank.

Type of automobile loan:

Personal loan car purchase business is divided into direct customers, indirect customers and credit card car loans.

(1) Direct customer service is generally a bank car loan for customers to meet directly, and indirect customer service is generally an auto finance company to transfer car loans to customers. The fees charged by banks for direct car loans include deposit, principal and interest, and 3% guarantee fee. And the bank's premium customer fees will be discounted, but the preferential policies of each bank are different.

(2) In addition to paying the above fees, individual auto financing companies also need to bear supervision fees, fleet management fees and warranty renewal deposits.

(3) There is also a credit card car loan. Credit card installment car loan only provides installment payment for bank credit card users, not all conditions can be handled, and there is an audit procedure, which is difficult for credit card users with bad credit records to handle.

Loan terms:

(1) Having valid identification and full capacity for civil conduct.

(two) can provide a fixed and detailed address certificate.

(3) Have a stable occupation and the ability to repay the loan principal and interest on schedule.

(4) Personal social credit is good.

(5) Holding a car purchase contract or agreement approved by the lender.

(6) Other conditions stipulated by the Cooperation Organization.