Legal analysis: Yes. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers. Loan to buy a car refers to the loan issued by the lender to the borrower who applies for buying a car. In fact, it is to borrow money from financial institutions to buy a car. However, financial institutions require car buyers to pay a certain percentage of down payment and provide proof of repayment ability. They have no bad credit record and must meet the requirements of financial institutions before they can apply for a loan to buy a car.

Legal basis: Article 669 of the Civil Code of People's Republic of China (PRC) concludes a loan contract, and the borrower shall provide true information about the business activities and financial status related to the loan according to the requirements of the lender.