That's because your credit doesn't meet their standards, or you have outstanding loans online.
Second, why is the application for a car loan rejected?
What are the three main reasons why bank car loans are rejected? Not everyone can borrow money to buy a car. Specifically, car loans will be rejected.
One:
Self-employed and freelancers without units. The reason is that the lending institution needs the work certificate issued by the borrower's unit. If the above-mentioned personnel can't provide this material, the lending institution will not study the borrower's income source and repayment ability, and worry that it will face the risk that the funds will not be recovered after the loan.
Two: the down payment is too low.
According to the regulations of most lending institutions, borrowers must pay at least 30% down payment when applying for car loans, otherwise it will be difficult to get approval.
Third: the debt is too high.
Lending institutions have certain requirements on the ratio of borrowers' income to liabilities, which exceeds a certain limit. Specifically, the total monthly payment of new loans and original loans cannot be higher than 50% of monthly income, otherwise it will be difficult to obtain loans.
3. What if the car loan is rejected?
The solution to the rejection of car loan is to try to borrow money from another institution. The reasons that hinder the approval of car loan are: 1, the approval process of no property and no household registration book is blocked, and the car loan business requires the car buyer to have a household registration book or a property certificate, but one of the two conditions cannot be met, even if the bank has a good running record, it may be rejected; 2. It is difficult to get approval if the down payment is less than 40%. At present, the amount of loans that lenders can borrow is gradually shrinking, and the situation of buying a car with a down payment of 20% is becoming less and less. Even if there is, it will affect the speed of loan review or approval. Now most car buyers choose a loan ratio of 40% to 60% of the car price. It is said that it is difficult to get approval for buying a car with a down payment of 30%, even if it is approved, it will affect the approval speed. 3. Improper installment loan affects the approval progress. If consumers want to make a successful loan, they need to examine the interest rates corresponding to different loan terms, and then find a balance point according to their repayment ability. 4. The loan amount \/repayment method is directly linked to the monthly payment burden, and the loan amount depends on the situation. Personal credit or joint liability guarantees a maximum loan of 200,000 yuan, and the loan amount of the purchased vehicle or real estate mortgage is 70%.
4. What if the car loan is rejected?
How much is the loan?