Not necessarily, this is the insurance imposed on you by the 4s shop. Generally, private loan finance companies will let you buy insurance from them, mainly to ensure the safety of the loan vehicles and prevent them from making accidental claims after accidents. But if it is a car loaned by a state-owned bank, it is not necessary. How to buy insurance is not your concern as long as you repay the loan on time.

Precautions:

Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers.

Loan to buy a car refers to the loan issued by the lender to the borrower who applies for buying a car. In fact, it is to borrow money from financial institutions to buy a car. However, financial institutions require car buyers to pay a certain percentage of down payment and provide proof of repayment ability. They have no bad credit record and must meet the requirements of financial institutions before they can apply for a loan to buy a car.