With the increase in car consumption, the purchase of cars has become a necessity for many in modern cities. For ordinary consumers, however, one of the issues that attracts attention is the timing of car lending. Although the front booking was approved, the lending did not amount to completion, and the actual process and time might be much longer. So, you're waiting for a loan when the front sign passes? Let's analyze it。

Are you waiting for a loan when the car passes

1. Vehicle prices need to be assessed after information has been reviewed

Bank lending requires an assessment of the value of the vehicles provided in the information after completion of the examination of the borrower's information, a step that may take some time. If the vehicle is more common, it may take only a few minutes to complete the assessment, but if the vehicle is special, for example, a car of the best quality, it will take longer to assess, which is also one of the main factors leading to the release of funds。

2. Mortgage of vehicles and procedures related to the processing of loans

Another problem with car loans relates to the handling of vehicle mortgages and related formalities. Following the completion of the data review and vehicle assessment, the bank will register the vehicle as collateral, at which point the borrower will be required to provide the relevant formalities. If the borrower had already provided complete formalities, that step should take about half an hour; but if the formalities were incomplete, the time would be further delayed。

3. Different banks may have different lending cycles

Different banks may have some differences in their lending cycles. Moreover, some banks need additional auditing procedures, such as home visits of borrowers prior to lending, which may lead to longer lending cycles。

The impact on the car lending cycle, of course, also includes other factors, such as the good credit record of the borrower, stable income and financial position. These may affect the speed with which car loans are disbursed。

In the light of the above, the pass-through does not mean that the loan is in sight and, in fact, it may take a significant amount of time to review the data, assess the vehicle, mortgage the vehicle and other stages of the bank lending process. Therefore, the need for specific and well-planned timing of loans and careful preparation of the relevant procedures are crucial factors for car buyers。