First, the bank applies for a loan. Banks have requirements on the price and age of used cars, and the procedures are complicated. Bank loan interest is lower than that of general financial institutions.
Secondly, local financial lending institutions specializing in loans apply for loans. The speed and quality of general financial institutions to handle loans for customers are many times higher than those of banks. The advantage is that applicants don't have to wait too long to apply for second-hand car loans, and the amount they can generally apply for will be more satisfactory.
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The necessary materials for applying for a loan include: personal loan application, valid identity documents, occupation and income certificates, basic family information, car purchase agreement, supporting documents required for guarantee, and other conditions stipulated by the lender. You can check whether the application materials are complete, which may lead to loan failure.
After the owner applies for a loan, the bank will notify the car buyer within 15 working days after the loan application is accepted, and sign a loan contract for second-hand car consumption with the borrower who meets the loan conditions.