In fact, whether the car loan approval is likely to be failed depends on the borrower’s personal comprehensive qualifications.

If the borrower has a good income, can shoulder the repayment responsibility, and has no stain on his credit report, the possibility of being rejected for car loan approval is low.

If the borrower applies for a 0 down payment loan, which tests personal financial strength, the possibility of rejection will be greater.

In addition, it is also necessary to look at the loan channels.

If the borrower goes to a bank to apply for a loan, the loan application threshold is relatively high.

In this case, if the borrower's income is less than twice the monthly payment, or the debt ratio exceeds 50, it is more likely to be rejected.

The loan application threshold of automobile financial institutions is generally lower than that of banks. As long as the borrower meets the loan application conditions in all aspects, it is generally easier, but the loan interest rate will be relatively high.

The loan application threshold for 4S stores is considered to be the lowest, because most 4S stores cooperate with many financial institutions. After the borrower submits the loan application information, the 4S store will apply with various financial institutions. Loan matching.

In short, whether a car loan is available depends on the borrower’s overall conditions.

As long as the borrower's overall conditions are good, it will not be difficult to apply for a loan no matter which institution you choose.

Now is the era of credit. Once credit is stained, many things will be difficult to achieve. Online loans are the source of big data. Once the big data becomes chaotic, it will be classified as a high credit risk, thus affecting credit reporting and life restrictions. People who don't understand credit reporting and big data can check their credit data in "Kingfisher Data" to understand their credit data, loan records, risk status, etc. It is recommended that everyone pay attention to protecting their big data credit records.

Extended information:

Will the mortgage loan approval be failed if the debt ratio is high?

When the personal debt ratio is high, it will cause the mortgage loan to be failed.

A high personal debt ratio means an increased risk of overdue debt, and banks are definitely not willing to take risks.

There are two ways to solve the problem of high debt ratio. The first is to pay off part of the loan in advance to reduce the personal debt ratio; the second is to submit additional financial proof materials to prove that you have enough repayment. ability.

As long as the above two methods are adopted, the problem of excessive debt ratio can be solved. After submitting a mortgage application, the bank will see the problem of debt ratio more objectively and will not directly reject the user's mortgage application.