Detailed description:

1. The influence of credit status on car purchase is mainly reflected in loan car purchase. Banks and other financial institutions will refer to personal credit records when considering whether to issue loans. If the personal credit rating is poor, that is, the credit rating is low, the bank may refuse or raise the car loan interest rate. This means that it is more difficult and costly to buy a car with a loan.

2. Poor credit information may also have an impact on the installment payment method of car purchase. Many car dealers offer installment plans, but these plans usually require buyers to provide appropriate credit records. If the personal credit is not good, the car seller may ask the car buyer to provide more down payment or adjust the payment plan to make up for the potential risks.

3. In addition, poor credit information may also affect the auto insurance rate. Insurance companies generally refer to personal credit information when determining premiums. If the personal credit information is bad, the insurance company may assess the risk as high and increase the premium accordingly.

Summary:

Poor credit information has a great impact on the purchase of vehicles. Bad credit record may lead to the rejection of loan application or the increase of interest rate, the restriction of installment payment of car purchase and the increase of auto insurance expenses.

Extended data:

China's credit information system is mainly managed by the People's Bank of China, including personal credit information database and personal credit information report. Personal credit records include personal repayment records, credit card usage records, loan records and other credit-related information. Banks, financial institutions, insurance companies and so on. You can query personal credit information from the credit information system in order to assess risks and decide whether to provide loans and sign insurance.

If a person's credit record is not good, it may be caused by default, arrears, overdue repayment, credit card overdraft and other reasons. Individuals can improve their credit records by timely repayment, reasonable management of credit cards and avoiding default. Establishing a good credit record is not only beneficial to buying a car, but also has a positive impact on personal credit and financial activities.