Legal analysis: If the application is passed, the consumer has signed an agreement or contract with the lending institution, but the car loan has not been issued. At this time, if the consumer wants to cancel the loan, don't pay the down payment, discuss with the car dealer, and then go to the bank to cancel the loan. After the car loan is passed, the owner will generally be informed and bring the corresponding information to go through the formalities.

Legal basis: Article 585 of the Civil Code of People's Republic of China (PRC), the parties may agree that one party shall pay a certain amount of liquidated damages to the other party according to the breach of contract, or agree on the calculation method of the amount of damages for breach of contract. If the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase the liquidated damages at the request of the parties; If the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties. If the parties concerned pay liquidated damages for delayed performance, the breaching party shall also perform the debt after paying the liquidated damages.