Applying for a car loan from a bank requires strict proof of the applicant's income, collateral and other assets, as well as cumbersome procedures such as guarantee and property proof; Relatively speaking, the standards for lending to banks or auto financing companies through 4S stores are much looser, and many car loan businesses are unsecured and unsecured, which will be much more convenient for car owners.

2, auto loan approval procedures

The biggest advantage of lending money to banks or financial companies to buy cars through 4S shops, especially auto finance companies like GM, Toyota and Volkswagen, is that the approval process of auto loans is fast, and loans can be granted in about three working days; However, it takes two weeks or more to borrow money through the bank, and it will take even longer if the asset certification information is incomplete.

3. Loan mode

There are no restrictions on the types of cars that banks can borrow, while 4S stores only provide car loan services for their models. Therefore, in the choice of loans, bank loans to buy a car will have more advantages.

A simple understanding of a loan is to borrow money with interest.

Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans and interest subsidies? A general term for borrowing funds such as overdraft. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.