Auto finance companies generally check credit records, including identification information, loan information, loan information and other inquiries.

Auto finance allows consumers to directly apply for preferential payment methods from auto finance companies when they need a loan to purchase a car. They can choose different models and different payment methods according to their individual needs. .

Currently, there are five types of personal auto consumption loans: banks, auto finance companies, OEM finance companies, credit card installment purchases, and auto finance leasing.

The characteristics of the car purchase method of automobile finance companies are that they do not require loan car buyers to provide any guarantee, as long as they have a fixed occupation and residence, stable income and repayment ability, and good personal credit.

Will car finance companies check credit records when applying for loans?

Car loans are subject to the central bank’s credit report. If you take a loan from a bank or some car finance companies, your credit report will show it. Personal credit information mainly includes three categories:

The first is identification information, including name, ID number, home address, work unit, etc.;

The second is loan information, including loan issuance Bank, loan amount, loan term, repayment method, actual repayment record, etc.;

The third is credit card information, including card-issuing bank, credit limit, repayment record, etc.

As the database construction is gradually improved, information on personal payments for telephone, water, electricity, gas and other public utilities, as well as court civil judgments, tax arrears and other public information will be collected to comprehensively Reflects a person's credit status.

Purchasing a car through auto finance is divided into three stages: signing a car purchase contract, submitting approval materials, and submitting loan materials.

As long as you submit your ID card in the approval materials, the financial company will investigate your credit report in the PBOC system to evaluate your qualifications.

Currently, each bank has established a personal credit system. As long as you have borrowed money from any bank in China, it will be recorded. If there is a credit stain of not repaying on time, it will not only make the bank lose money to you in the future. Increase scrutiny when applying for a loan and even increase loan interest. When an individual applies for a loan to buy a car, his or her personal credit record is an important part of the bank's review. If there are any negative phenomena in your personal record, the bank has reason to believe that you do not have the ability to repay and refuse to apply for a loan.

Generally, if an individual does not repay the loan for a month, the bank's collection department will ask the customer about the situation; if the loan is not repaid on time for about 3 months, the guarantee company will bear the corresponding responsibility.

After car owner loans occurred in other places, the guarantee unit used the name of the bank to charge various fees to the car owner, so now banks set up their own accounts for the lenders, and the lenders only need to repay the money to the account on a monthly basis. Just make the payment and there is no need to go through a guarantee company. Consumers should pay special attention to this.