Under normal circumstances, a loan to buy a car requires a down payment, which is the same as buying a house. According to the regulations of the bank, the applicant can only apply for a car loan from the bank if he is able to repay the loan and pay the down payment, notary fee and insurance premium. Usually, applicants follow the model of "looking for a car dealership first and then looking for a bank". The applicant first plans to buy a vehicle, prepare the application materials, and then apply to the bank. The bank will review the applicant and the information submitted. After the approval, the applicant and the bank have completed the relevant procedures. In this way, the applicant can confidently bargain with the dealer and talk about discounts with "money" (the money is directly transferred from the bank to the account of the car dealer).

Generally speaking, the down payment ratio of loans to buy a car is between 20% and 30%. In addition, the down payment and interest rate requirements are different according to the way the applicant borrows money to buy a car. For example, the installment fees of bank auto loans and bank credit cards are generally higher than the benchmark interest rate of the central bank, while the loan interest rate of auto financing companies will be higher because of the lower threshold.