Car 4S shops have nothing to do with loans. You only pay the down payment when you pick up the car, and only the bank pays the final payment, so as to make up the full amount of the car. When you see the money, the 4S store will release the car.
A customer applies for a loan from a bank (auto consumer finance company) through a 4S shop. After being approved, the customer signs a loan contract with the bank (auto consumer finance company) and completes the mortgage and other related procedures. After that, the bank (auto consumer finance company) will generally distribute the loan funds to the bank card under the customer's name, and then the system will transfer them to the designated account of the auto dealer. After the car dealer receives the car payment, the customer can go to the 4S shop to pick up the car.
Can I borrow money to buy a car directly from a 4s shop?
You can do it directly, but you have to pay a handling fee. You might as well go to the bank and do it yourself.
The car loan down payment is paid directly to the 4s shop, and the car down payment needs more than 20% of the vehicle price. The People's Bank of China stipulates that the down payment ratio of individual car loans and car loans shall not be less than 20%. However, due to the credit crunch during the year, some banks in Shanghai have increased the down payment ratio of personal car loans from 20% to 30%-40%.
If you want to buy a 100w BMW, you should pay 20%-50% down payment for buying a car by stages, and the general bank requires 40%-50%. Some car dealers can get 20% or even lower if they find some financing companies. In other words, if you pay the down payment for this car, you need to pay 20-50w, or even lower.
For car buyers who intend to apply for personal car loans from banks, they should prepare the down payment in advance according to the market price of the models, so as to avoid a temporary panic because they don't understand. The general bank's provisions on the amount of personal car loan products mainly include: personal credit or joint liability guarantee can guarantee a maximum loan of 200,000 yuan; Apply for mortgage of the purchased vehicle or real estate, and the loanable amount is 70%; If a third party applies for secured loans (except banks and insurance companies), the loanable amount is 60%.
Prepare the down payment and related formalities after the loan is approved. Then, according to the regular standards of car loan agents, it will be credited to the account of the car dealership. After the down payment is in place, the 4S shop will issue a full invoice for your new car according to the bank's loan notice and the proof that the down payment has been paid. After licensing, the relevant procedures such as vehicle registration certificate will be summarized in the bank, and the bank will directly transfer the loan amount to the 4S account.
In other words, the later stage is the lending relationship between our customers and banks. We borrow money from the bank, and the bank takes away our vehicles! After the general loan for car purchase is approved, the down payment and related formalities will be prepared, and then it will be credited to the car dealership account according to the regular standards of car loan agents.
Loan to buy a car, after the loan, the money will be given to the car dealer?
If you bought the car at a dealer.
There are also installment loans handled by the dealership.
The amount after the next paragraph goes directly to the garage.
If you are looking for a private installment loan.
The loan amount goes directly to your name.
You have to transfer it to the dealer.
This is basically the process.