If you have no money and want to buy a car, you can choose a loan to buy a car. 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. This is a new loan method, and banks provide RMB-guaranteed loans to car buyers who buy cars at special dealers.

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.

Application process

1, customer application. Customers apply to the bank, fill in the application form in writing and submit relevant materials at the same time;

2. Sign the contract. After the application materials submitted by the borrower are approved by the bank, the two parties sign a loan contract and a guarantee contract, and go through the relevant notarization and mortgage registration procedures as appropriate;

3. issue loans. After all the formalities are completed, the loan approved by the bank will be directly transferred to the car dealer account by the bank according to the contract;

4. Repay on schedule. The borrower repays the loan principal and interest according to the repayment plan and repayment method agreed in the loan contract;

5. loan settlement.