Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers. The interest rate of automobile consumption loan refers to the ratio between the loan amount and the principal paid by the bank to consumers, that is, borrowers, for purchasing their own cars. The higher the interest rate, the greater the repayment amount of consumers.

According to the requirements of the bank, the down payment ratio of customers who borrow money to buy a car is at least 30%. When a bank handles a car loan, it will first check the borrower's personal credit report. If it finds the overdue repayment shown in the report, the loan amount may be discounted. Therefore, in daily life, we must safeguard our personal credit to avoid the loan application being blocked.