Legal analysis: As the case may be, the loan business can be cancelled before the formal contract is signed. If the loan contract has been signed and the loan is waiting to be issued, the cancellation needs to pay liquidated damages and bear certain liability for breach of contract. If you have bought a car, want to go back on our word and want a refund, you can negotiate with the dealer and ask for the termination of the car sales contract, but you must bear certain liability for breach of contract and compensate the dealer for the losses. If negotiation fails, the dealer insists on not agreeing to terminate the contract, and the buyer can only pay the full payment. Because the contract is legal and valid, it must be fulfilled. Car loan, commonly known as "car loan", is a major consumption form of modern car purchase. Refers to the loan that the lender gives the borrower to buy a car (including a used car), including personal car loan, dealer car loan and institutional car loan. The interest rate of auto loans shall be implemented in accordance with the loan interest rate regulations published by the People's Bank of China, and the methods of interest calculation and settlement shall be determined by both borrowers and borrowers through consultation. The loan term of auto loan (including extension) shall not exceed 5 years, of which the loan term of used car loan (including extension) shall not exceed 3 years, and the loan term of dealer auto loan shall not exceed 1 year. Lenders and borrowers should follow the principles of equality, voluntariness, honesty and trustworthiness.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 585 The parties may agree that one party shall pay a certain amount of liquidated damages to the other party for breach of contract, or may agree on the calculation method of the amount of compensation for losses caused by 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.

Article 679 A loan contract between natural persons is established when the lender provides the loan.