A car loan? For many, this is a critical issue, as it can effectively alleviate your economic pressure. However, a common question is: can I get a loan on the day of the loan application? So let's talk about it today。

Can I make a loan on the day of the loan

First, it should be clear that the approval of the loan did not necessarily take place on that day. Generally, the vehicle loan approval process takes about seven working days. However, if you choose a legitimate financial institution, the speed of approval may be significantly increased and may be completed by that day. Note, however, that the efficiency of approval may be affected by other factors. For example, if there is a problem with the documentation provided, that would take a lot of time. Furthermore, the bank will call you back during the audit process, and if problems arise during this process, the speed and results of the audit will be affected。

Then let's talk about what credit records need to be checked for a loan. In short, there are five main aspects:

Personal information: for example, your working status, marital status, place of residence and property

2. Credit records: if you have a record of overdue payments. This helps banks to understand your credit position

3. Record of borrowings: primarily on the extent to which you have outstanding loans

4. Search records: including loan reviews, credit card approvals, bond inquiries, credit administration, etc.

5. Public information: primarily checking whether you have a record of civil decisions at the time of the loan, enforcement records, administrative sanctions records, telecommunications arrears, etc。

Generally speaking, car loan approval may not be completed on the same day, but the correct selection of financial institutions and the correct submission of information can speed up the process. At the same time, the bank scrutinizes your personal information, credit records and other records to determine your loan eligibility。