Some friends may be puzzled that if I choose to buy a vehicle in instalments but have sufficient funds to pay the full amount after a certain period of time, can I pay the loan in advance? The answer is yes. A friend who wants to pay in advance needs to know that, as a rule, the bank requires you to make an appointment 15-30 days in advance to carry out the advance payment. However, the specific provisions in this regard may vary from bank to bank, so that you can direct such information to the bank concerned. There is no limit on the number of early repayments, either in full or in part, but it should be noted that the minimum repayment amounts may vary from bank to bank。

Can you pay for the car in advance after the loan

If your application for a loan does not reach six months or one year, most banks will receive an appointment, in proportion to which the bank concerned should be consulted. The basic process of the phased purchase of vehicles begins after the preferred model is selected and the down payment is paid. Then you need to provide proof and find a well-reputable guarantor to apply for a loan at the bank. Once the bank review has been successful, it will be able to start a phased loan, and the bank will immediately release the loan and then withdraw the vehicle, meaning that the basic process for the purchase of the vehicle in a phased manner is completed。