How long does it take to approve the car loan?

How long does it take to review the car loan?

It generally takes about 15 days for banks to review car loans. If the borrower passes the examination, the bank will send a notice.

The process of handling auto loans in banks is:

1. Bring relevant materials to the bank outlets to apply for loans;

2. The bank investigates the materials and then approves them;

3. After approval, the borrower signs a contract with the bank;

4. The borrower handles notarization, mortgage and other procedures;

5. Bank loans.

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).

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

After waiting for a week or so, the bank sent a short 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 The money is directly remitted by the bank to the 4S store and cannot be consumed or withdrawn elsewhere.

4.4S store has already withdrawn money, plus the down payment you paid before, so 4S store has received the full amount. In theory, you can take the car (of course, it is best to decide to wait for a good card before picking up the car).

What is left is your loan relationship with the bank.

Reasons for slow car loan review:

1. Personal information is incomplete.

Car loan business requires car buyers to have household registration books or real estate licenses, as well as a series of certificates. If there are errors or problems, it will affect the approval time.

2. Advance payment

Now most car buyers choose a loan ratio of 40% to 60% of the car price. Too low down payment will affect the approval speed.

3. Special circumstances

If you encounter policy reasons, it will lead to insufficient institutional or bank quotas. You may have to wait in line for a while, and take the initiative to contact the account manager to ask about the approval progress.

First: the real estate license of the borrower is only proof of property and will not be mortgaged.

Second, it depends on which financial institution you use. If it is a financial company with a car brand, it will be much simpler, and it will be completed within 5 working days from submitting the information to picking up the car.

Third: there are two kinds of bank approval, one is credit loan, but it is not exactly the same as the fastest reply. After the approval of the bank, you pay the down payment, and the bank will help you pay off the rest of the money to the 4S shop, so you can pick up the car. The period of such loans is 4-5 working days. The other is mortgage loan. After you pay the down payment, the 4S store will issue an invoice. After you sign the card with the invoice, insurance policy, certificate of approval and ID card, give the information to the 4S shop, and the bank will lend it to the 4S shop after completing the mortgage formalities. The loan period of this kind varies from 5- 12 working days, and each bank is different.

How long does it take to review the car loan?

Auto loan refers to the loan issued by the lender to the borrower who applies for buying a car, also known as auto mortgage. The loan object must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.

The approval time of auto loan is determined by many factors. If it takes a long time to approve the car loan through the bank and the process is complicated, it usually takes about a week to pay on the premise that the information is fully prepared. It usually takes about a week to borrow by credit card in installments, which is convenient and interest-free. While applying for loans through auto financing companies, the approval time of auto loans is relatively short, usually only 2~3 days. However, auto financing companies have a lot of loan fees, and there are often arbitrary charges. You can choose according to your actual situation.

Automobile loan application conditions

1. Car buyers must be at least 18 years old and be China citizens with full civil capacity.

2. Car buyers must have a stable job, a stable economic income or assets that can be easily realized in order to repay the loan principal and interest on schedule. The realizable assets here generally refer to securities, gold and silver products, etc.

3. During the period of applying for a loan, the car buyer will deposit the car purchase down payment lower than that stipulated by the bank into the bank savings counter account.

4. Provide banks with bank-approved guarantees. If the personal account of the car buyer is not local, it is necessary to provide joint and several liability guarantee, and the bank does not accept the mortgage set by the car buyer with the loan.

5. Car buyers are willing to accept other conditions deemed necessary by the bank.

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

Sometimes we need a loan to buy a car, so we need to know more about the loan. How long does it take to apply for a loan? This is a question that many people don't know? But this is a very important point that needs everyone to understand clearly. I have compiled the following contents to answer your questions, hoping to help you.

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

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

Loan car purchase process

1. First, find financial institutions willing to provide loans. Many brands of cars, such as Volkswagen and Nissan, have their own finance companies. If there is no dealer, they will recommend it.

2. Find the financial institution that provides the loan, and then prepare the financial proof materials, including: real estate license, work certificate, social security certificate, household registration book, ID card, personal credit certificate issued by the People's Bank of China, and personal account of the bank in the last three months.

3. The whole loan approval process takes about 15 working days. Some vehicles need to pay part of the down payment, so you need to prepare some cash.

Relevant laws and regulations

The central bank and the China Banking Regulatory Commission decided to amend the Measures for the Administration of Automobile Loans. The new measures will take effect from 20 18 1. According to the new method, the maximum loan ratio for self-use traditional power vehicles is 80%, and the maximum loan ratio for commercial traditional power vehicles is 70%. The maximum loan ratio for self-use new energy vehicles is 85%, and the maximum loan ratio for commercial new energy vehicles is 75%; The proportion of second-hand car loans is up to 70%.

Below, I have a certain understanding of how long it takes to apply for a car loan. This is also a common problem when we buy a car. However, we still need to submit the corresponding materials when handling it, so that we can handle it smoothly and finally buy a car. Please consult a professional lawyer if you have any other questions.

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

Car loans can generally be approved in about 7 working days. If you choose the manufacturer's finance when buying a car, the audit speed will be faster, and it will usually be completed on the same day.

Car loans are generally easier to pass than other loans, because the loan amount of car loans is relatively lower than other loans (housing loans), and people with fixed jobs and incomes can generally afford it, unless you are too capricious when choosing a car, which is beyond your tolerance.

But the audit 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, Bank of China will call you to pay a return visit to the car loan. If there are mistakes in the return visit, it will also affect the approval speed and even the audit results.

If the car loan bank does not approve it, it may be caused by several reasons.

1. The loan amount is too large, and the bank thinks you can't repay it.

2. Poor credit information. If you have ever defaulted on your credit card for more than two times in five years, the bank has a good chance to refuse your loan.

3. The spouse's credit information is poor, and the credit information of the married spouse is also one of the factors considered by the bank.

4. There are too many debts. If you owe too much, the bank may refuse your loan, and even if you don't refuse, it may reduce the loan amount.

Monthly repayment accounts for more than 50% of your monthly income.

When buying a car, you must first understand the relevant car loan policy in advance. If the car loan fails unfortunately, you should reflect on your possible problems. If the bank loan is not enough, you can also choose car dealer finance or car loan company. The repayment mechanism of car loan companies is more flexible than that of banks, but the rate will increase accordingly.

Supplementary knowledge about buying a car with a loan;

First, the process of applying for a loan to buy a car:

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

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

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

4. The bank examines and approves the loan application that meets the loan conditions through preliminary examination and credit investigation;

5. If it is approved, notify the borrower to go through relevant procedures such as signing, lending, mortgage or pledge; If it fails to pass the examination and approval, it shall explain to the borrower;

6. After the loan contract comes into effect, the handling bank will issue loans. Special loan method is adopted, that is, according to the loan contract, the handling bank directly transfers the loan to the dealer account of the borrower's car purchase.

Two, the basic conditions for applying for automobile mortgage are as follows:

1./kloc-citizens over 0/8 years old with full capacity for civil conduct.

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

3 loan individuals should have stable professional and economic income or assets that are easy to realize, enough to repay the loan principal and interest on schedule.

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

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

6. The lender is willing to accept other conditions deemed necessary by the bank.

How long does it take to approve the auto bank loan?

It takes about 15 working days to approve the car loan at the bank. The reasons are as follows: 1. Because it involves evaluation, mortgage registration and other links, the situation of each customer will be different; 2. The specific lending time, review and processing progress of the loan can be directly confirmed by contacting the handling outlets or loan account managers; 3. The borrower must be at least eighteen years old and a citizen with full capacity for civil conduct.

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 loans. Many brands of cars, such as Volkswagen and Nissan, have their own finance companies. If there is no dealer, they will recommend it.

2. Find a financial institution that provides loans and prepare financial proof materials, including: property certificate, work permit, social security certificate, household registration book, ID card and personal account of the bank in the last three months.

3. The whole loan approval process takes about 15 working days. Some vehicles need to pay part of the down payment, so we need to prepare some cash.

Extended data:

The simple and popular understanding of loan is to borrow money with interest.

Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.