Situation 1: the loan has come down, but the car purchase contract has not been signed yet.
In this case, you can choose not to mention the car. Because if you don't sign a car purchase contract with the 4s shop, you don't need to pay liquidated damages, which means there is no car purchase relationship between you and the 4s shop. But from the moment the loan comes down, the bank has fulfilled its obligation to give you a loan in accordance with the contract. Similarly, whether you buy a car or not, you need to pay the interest stipulated in the contract. Otherwise, you need to pay liquidated damages in accordance with the breach of contract provisions in the contract.
Situation 2: Can you decide not to buy a car during the examination of the car loan application?
In this case, you can choose not to buy a car, because the bank is under review at this time, and you have no loan relationship with the bank. You just need to call the bank and tell it to temporarily give up applying for a car loan. At the same time, you can also tell the bank that you are worried that your income will be difficult to maintain this loan, and the bank will reconsider your request. Generally speaking, as long as you apply for cancellation, the bank will cancel it for you. Although we should compensate the other party for the expenses incurred, the bank did not incur any expenses at the audit stage, so there is no need for compensation.
Situation 3: The car loan application has come down, and the 4s shop has also signed a car purchase contract.
In this case, if you decide not to buy a car, you need to pay the liquidated damages of the 4s shop and the bank interest agreed in the loan contract.
Therefore, we should think carefully before taking out a loan to buy a car. After all, cars are commodities. All relevant decisions need to be borne by ourselves, which should be made clear when signing the contract.