A car costs hundreds of thousands or even millions, and many people can't afford that much money at once, so most people borrow money to buy a car. Of course, a loan to buy a car must meet certain conditions. So what conditions do you need to meet for a loan to buy a car?

What conditions do you need to buy a car with a loan?

1, aged from 18 to 65, with full capacity;

2. Have legal identity documents and a relatively stable residence;

3. Have paid enough down payment for car purchase (except for car purchase with zero down payment);

4. Have a stable source of income and repayment ability;

5. Good credit information and normal big data information;

6. The vehicle meets the mortgage conditions;

7. Meet other requirements of the lending institution.

Why can't the car loan be approved?

1. Insufficient down payment: Most car loans require a down payment of 30%, and car loans can only be processed after the down payment is paid. However, car loans are not particularly strict with down payment requirements. The borrower can make a loan to pay the down payment, but must provide the down payment certificate;

2. High personal debt: If the borrower has made other loans or used a credit card before the loan, the outstanding loans are all personal debts. If the total debt ratio is above 50%, car loan is impossible because of the high risk.